Waukesha, Wisconsin Housing Market Prices
Waukesha 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 144% above the Wisconsin median$416,491
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Median rent 13% above the Wisconsin median$1,229
Housing Market Overview
| Metric | Waukesha | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $416,491 | $170,479 | $248,835 |
| Price Trend (Annual %) | 15.7% | 4.2% | 7.5% |
| Median Gross Rent | $1,229 | $1,087 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Waukesha is about 144% higher than in Wisconsin. Rent is about 13% higher than the Wisconsin average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Waukesha, up about 15.7% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Waukesha rose about 46.0% between 2015 and 2024, from $842 to $1,229. Over the same span, rent in Wisconsin rose about 40.2%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Waukesha.
Buying the median-priced home in Waukesha costs roughly 28.2 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 Waukesha. The price-to-rent ratio in Wisconsin is about 13.1.
| Metric | Waukesha | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $416,491 | $170,479 | $248,835 |
| Median Household Income | $82,762 | $77,698 | $80,455 |
| Price-to-Income Ratio | 5.0 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Waukesha rose about 156.0%, while median household income rose about 35.9% between 2009 and 2025 — 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 | Waukesha | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.1% | 60.5% | 58.5% |
| Rental Rate | 39.9% | 28.7% | 31.2% |
| Vacancy Rate | 3.0% | 10.8% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Waukesha has a homeownership rate of 57.1%, lower than the Wisconsin average of 60.5%. Its housing vacancy rate is 3.0%, compared with 10.8% in Wisconsin.
Housing Stock
| Metric | Waukesha | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.33 people | 2.53 people |
| Median Structure Built Year | 1975 | 1974 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Waukesha was built around 1975. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Waukesha, WI Housing Compared With Nearby Cities
How Waukesha, WI compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Waukesha, WI | 57,950 | $416,491 #1/3 | $1,229 #3/3 | 58.9% #3/3 |
| Pewaukee, WI | 21,422 | $235,437 | $1,378 | 71.9% |
| New Berlin, WI | 42,296 | $374,844 | $1,412 | 76.6% |
Frequently Asked Questions
Common questions about the housing market in Waukesha, Wisconsin.
What is the median home price in Waukesha, Wisconsin?
The median home price in Waukesha, Wisconsin is $416,491, higher than the Wisconsin average of $170,479.
What is the average home price in Waukesha, Wisconsin?
The typical home price in Waukesha, Wisconsin, reported as the median sale price, is $416,491. 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 Waukesha, Wisconsin?
The median gross rent in Waukesha, Wisconsin is $1,229 per month, higher than the Wisconsin average of $1,087.
What was the median gross rent in Waukesha in 2020?
In 2020, the median gross rent in Waukesha, Wisconsin was $967 per month.
What is the price-to-rent ratio in Waukesha, Wisconsin?
The price-to-rent ratio in Waukesha, Wisconsin is about 28.2, meaning it would take roughly 28.2 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 Waukesha.
Are home prices or rent rising faster in Waukesha, Wisconsin?
Both home prices and rent are rising in Waukesha, up about 15.7% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Waukesha, Wisconsin?
57.1% of households in Waukesha, Wisconsin own their home, lower than the Wisconsin average of 60.5%.
What is the vacancy rate in Waukesha, Wisconsin?
The housing vacancy rate in Waukesha, Wisconsin is 3.0%, lower than the Wisconsin average of 10.8%.
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