Market Overview
Home Prices in South Milwaukee, WI
The median home value in South Milwaukee, WI is $313,885 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.5% compared to a year ago and up 2% from two years prior.
Compared to the U.S. national median of $410,000, homes in South Milwaukee are priced23% below average. South Milwaukee is part of the Milwaukee-Waukesha, WI metro area.
Over the past five years, South Milwaukee home values have risen by approximately25.4%, reflecting strong long-term appreciation in this market.
Price History
South Milwaukee Home Price Trend
City Comparison
South Milwaukee vs. National Median
At $313,885, homes in South Milwaukee cost 23% below the national median of $410,000. This makes South Milwaukee a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in South Milwaukee?
20% Down Payment
$62,777
on $313,885
Monthly P&I
$1,637/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,079/mo
incl. taxes & insurance
Income Needed
$83,160
gross annual (30% rule)
10% Down Option
$31,389
+ PMI applies
Loan Amount (20% dn)
$251,108
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in South Milwaukee, WI?
The median home value in South Milwaukee is $313,885 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.5% year-over-year.
How much have home prices changed in South Milwaukee?
Over the past year, home values in South Milwaukee have increased by 2.5%. Over five years, prices have risen approximately 25.4%.
How much do I need to earn to buy a home in South Milwaukee?
To comfortably afford the median home price of $313,885 with a 20% down payment ($62,777) at today's rates (6.8%), you'd need a gross annual income of approximately $83,160. This assumes keeping total housing costs at or below 30% of gross income.
How does South Milwaukee compare to the national average home price?
The national median home value is approximately $410,000. At $313,885, homes in South Milwaukee are 23% below the national average.
What metro area is South Milwaukee part of?
South Milwaukee is part of the Milwaukee-Waukesha, WI metropolitan area. Home prices and market conditions can vary across the broader metro region.