Village in Waukesha County, Wisconsin. Data-backed housing guide by Kinan Sawar, MD — REALTOR® at Shorewest, REALTORS®. Figures as of 2026-07-03.
| Typical home value | $697,367 |
|---|---|
| 1-year change | +6.1% |
| 5-year change | +34.8% |
| Typical rent | not published |
The typical home in Elm Grove, Wisconsin is worth about $697,367 as of 2026-07-03, up 6.1% over the past year and up 34.8% over five years. Source: Zillow Home Value Index, compiled by Sawar Homes.
Elm Grove's defining number is its five-year run: typical home values are up 34.8% since 2021, reaching $697,367 as of April 30, 2026. That places the village 5 of 27 in Waukesha County, at a $163,265 premium — about 31% — over the county median of $534,102.
The ZIP-level rent figure is also notable. ZIP 53122, which covers Elm Grove, shows a typical rent of $3,281 per month alongside a ZIP typical value of $677,747.
Over the most recent year, values rose 6.1%, and the village sits about 53% above the seven-county regional median of $455,834.
A 34.8% five-year gain averages out to roughly 6% per year compounded, and the latest year's 6.1% matches that pace almost exactly — appreciation here has been remarkably even rather than front- or back-loaded. Even trends can change; past performance does not guarantee future results.
Among its listed peers, Elm Grove sits below Delafield ($757,187) and Nashotah ($727,339) and above Hartland ($669,294) and the Town of Ottawa ($647,772). The distance from Elm Grove down to Ottawa is about $50,000, and up to Nashotah about $30,000 — this is the middle of Waukesha County's upper tier.
The $3,281 monthly rent recorded in ZIP 53122 is a concrete data point for anyone comparing owning against renting at this price level, though the dataset does not include a municipality-wide rent or gross yield figure for Elm Grove.
| ZIP code | Typical home value | 1-year change | Typical rent |
|---|---|---|---|
| 53122 | $677,747 | +5.9% | $3,281/mo |
| Homes sold (arms-length, single-family) | 116 |
|---|---|
| Median sale price | $590,000 |
| Middle 50% of sales | $353,750 to $850,000 |
| Government-backed financing (FHA/VA/USDA) | 0% |
| Seller-financed | 0% |
Over the 12 months ending June 2026, 116 single-family homes sold in Elm Grove, Wisconsin in arms-length transactions, at a median price of $590,000. Half of those sales fell between $353,750 and $850,000. Source: Wisconsin Department of Revenue real estate transfer returns, compiled by Sawar Homes — every recorded sale, including for-sale-by-owner and builder-direct transactions that never appear in the MLS.
Zillow’s typical-home-value estimate for Elm Grove is $697,367, while homes that actually changed hands had a median price of $590,000 — a difference of -15.4%. These measure different things, and neither is wrong: the index estimates the value of every home whether or not it sold, while the sale figure reflects only the homes that changed hands, which usually skew toward the more affordable end of the market.
Buyers get one advantage from Elm Grove's steady trajectory: the market's recent past is unusually predictable to read, with one-year (6.1%) and five-year (34.8%, roughly 6% annualized) figures in agreement. At a typical value of $697,367, it is the least expensive of the four listed municipalities above it in the county top five, while ZIP 53122's $677,747 figure suggests the surrounding ZIP prices slightly below the village-wide number.
Sellers can point to five years of compounding gains totaling 34.8% — the strongest single figure in Elm Grove's data — and a top-five county rank. With Hartland ($669,294) and Ottawa ($647,772) offering lower-priced alternatives nearby, pricing at the market rather than above it keeps a listing competitive against documented substitutes. Historical gains support the comps; they do not guarantee an individual outcome.
Elm Grove centers on Village Park, where a pavilion, pond, and playgrounds sit a short walk from the shops of the Watertown Plank Road district and the Sunset Playhouse community theater. Underwood Creek threads through the village, and Bluemound Road and I-94 at the southern edge connect to downtown Milwaukee and the Milwaukee Regional Medical Center just east.
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$697,367 as of April 30, 2026 — fifth-highest of the 27 municipalities tracked in Waukesha County. The ZIP 53122 figure is $677,747.
34.8% over five years and 6.1% over the past year, through April 30, 2026. That works out to a steady pace of roughly 6% per year.
The typical rent in ZIP 53122 is $3,281 per month as of April 30, 2026. A separate municipality-wide rent figure is not available.
Yes — by $163,265, or about 31%, versus the county median of $534,102.
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Kinan Sawar, MD — REALTOR® at Shorewest, REALTORS®, serving Milwaukee and Southeast Wisconsin (Milwaukee, Waukesha, Ozaukee, Washington, Racine, Kenosha, and Walworth counties). Email: [email protected] · Phone: (618) 713-2964.
How to choose a real estate agent in Elm Grove and Milwaukee — a five-question checklist
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Home values and rents are Zillow ZHVI/ZORI estimates for the named area, as of 2026-07-03; incomes and population are U.S. Census (SAIPE, Population Estimates); migration is IRS Statistics of Income. Area-level statistical estimates for information only — not an appraisal, and not financial, legal, or tax advice.