Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Walworth County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $384,999 | $176,921 | $242,182 |
| Price Trend (Annual %) | 15.5% | 5.3% | 8.2% |
| Median Gross Rent | $1,090 | $1,045 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Walworth County is about 118% higher than in Wisconsin. Rent is about 4% higher than the Wisconsin average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Walworth County, up about 15.5% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Walworth County rose about 34.2% between 2015 and 2023, from $812 to $1,090. Over the same span, rent in Wisconsin rose about 34.7%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Walworth County.
Buying the median-priced home in Walworth County costs roughly 29.4 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 Walworth County. The price-to-rent ratio in Wisconsin is about 14.1.
| Metric | Walworth County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $384,999 | $176,921 | $242,182 |
| Median Household Income | $77,548 | $75,766 | $78,145 |
| Price-to-Income Ratio | 5.0 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Walworth County rose about 48.1%, while median household income rose about 44.2% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Walworth County | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.0% | 60.4% | 58.2% |
| Rental Rate | 23.3% | 28.6% | 31.3% |
| Vacancy Rate | 20.7% | 11.1% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Walworth County has a homeownership rate of 56.0%, lower than the Wisconsin average of 60.4%. Its housing vacancy rate is 20.7%, compared with 11.1% in Wisconsin.
Housing Stock
| Metric | Walworth County | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.35 people | 2.54 people |
| Median Structure Built Year | 1976 | 1973 | 1978 |
| Median Number of Rooms | 5.8 | 5.6 | 5.5 |
The typical housing unit in Walworth County was built around 1976. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Walworth County, Wisconsin.
What is the median home price in Walworth County, Wisconsin?
The median home price in Walworth County, Wisconsin is $384,999, higher than the Wisconsin average of $176,921.
What is the average home price in Walworth County, Wisconsin?
The typical home price in %s, reported as the median sale price, is %s. 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 Walworth County, Wisconsin?
The median gross rent in Walworth County, Wisconsin is $1,090 per month, higher than the Wisconsin average of $1,045.
What was the median gross rent in Walworth County in 2020?
In 2020, the median gross rent in Walworth County, Wisconsin was $898 per month.
What is the price-to-rent ratio in Walworth County, Wisconsin?
The price-to-rent ratio in Walworth County, Wisconsin is about 29.4, meaning it would take roughly 29.4 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 Walworth County.
Are home prices or rent rising faster in Walworth County, Wisconsin?
Both home prices and rent are rising in Walworth County, up about 15.5% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Walworth County, Wisconsin?
56.0% of households in Walworth County, Wisconsin own their home, lower than the Wisconsin average of 60.4%.
What is the vacancy rate in Walworth County, Wisconsin?
The housing vacancy rate in Walworth County, Wisconsin is 20.7%, higher than the Wisconsin average of 11.1%.