Oak Creek, Wisconsin Housing Market Prices
Oak Creek Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 228% above the Wisconsin median$558,730
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Median rent 34% above the Wisconsin median$1,451
Housing Market Overview
| Metric | Oak Creek | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $558,730 | $170,479 | $248,835 |
| Price Trend (Annual %) | 7.1% | 4.2% | 7.5% |
| Median Gross Rent | $1,451 | $1,087 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oak Creek is about 228% higher than in Wisconsin. Rent is about 34% higher than the Wisconsin average.
Median Home and Rent Price Trends
Median Home Prices, 2020-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Oak Creek, up about 7.1% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Oak Creek rose about 50.8% between 2015 and 2024, from $963 to $1,451. Over the same span, rent in Wisconsin rose about 40.2%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Oak Creek.
Buying the median-priced home in Oak Creek costs roughly 32.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Oak Creek. The price-to-rent ratio in Wisconsin is about 13.1.
| Metric | Oak Creek | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $558,730 | $170,479 | $248,835 |
| Median Household Income | $96,067 | $77,698 | $80,455 |
| Price-to-Income Ratio | 5.8 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2020 and 2024, the median home price in Oak Creek rose about 24.2%, while median household income rose about 37.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Oak Creek | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.5% | 60.5% | 58.5% |
| Rental Rate | 41.7% | 28.7% | 31.2% |
| Vacancy Rate | 2.7% | 10.8% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Oak Creek has a homeownership rate of 55.5%, lower than the Wisconsin average of 60.5%. Its housing vacancy rate is 2.7%, compared with 10.8% in Wisconsin.
Housing Stock
| Metric | Oak Creek | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.33 people | 2.53 people |
| Median Structure Built Year | 1990 | 1974 | 1978 |
| Median Number of Rooms | 5.2 | 5.6 | 5.5 |
The typical housing unit in Oak Creek was built around 1990. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 14.0 years on average.
Oak Creek, WI Housing Compared With Nearby Cities
How Oak Creek, WI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Oak Creek, WI | 36,158 | $558,730 #1/2 | $1,451 #2/2 | 57.1% #2/2 |
| Franklin, WI | 35,891 | $192,535 | $1,457 | 77.3% |
Frequently Asked Questions
Common questions about the housing market in Oak Creek, Wisconsin.
What is the median home price in Oak Creek, Wisconsin?
The median home price in Oak Creek, Wisconsin is $558,730, higher than the Wisconsin average of $170,479.
What is the average home price in Oak Creek, Wisconsin?
The typical home price in Oak Creek, Wisconsin, reported as the median sale price, is $558,730. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Oak Creek, Wisconsin?
The median gross rent in Oak Creek, Wisconsin is $1,451 per month, higher than the Wisconsin average of $1,087.
What was the median gross rent in Oak Creek in 2020?
In 2020, the median gross rent in Oak Creek, Wisconsin was $1,112 per month.
What is the price-to-rent ratio in Oak Creek, Wisconsin?
The price-to-rent ratio in Oak Creek, Wisconsin is about 32.1, meaning it would take roughly 32.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Oak Creek.
Are home prices or rent rising faster in Oak Creek, Wisconsin?
Both home prices and rent are rising in Oak Creek, up about 7.1% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oak Creek, Wisconsin?
55.5% of households in Oak Creek, Wisconsin own their home, lower than the Wisconsin average of 60.5%.
What is the vacancy rate in Oak Creek, Wisconsin?
The housing vacancy rate in Oak Creek, Wisconsin is 2.7%, lower than the Wisconsin average of 10.8%.
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