City in Milwaukee County, Wisconsin. Data-backed housing guide by Kinan Sawar, MD — REALTOR® at Shorewest, REALTORS®. Figures as of 2026-07-03.
| Typical home value | $229,887 |
|---|---|
| 1-year change | +3.5% |
| 5-year change | +38.8% |
| Typical rent | $1,450 per month |
| Gross rent yield | +7.6% |
The typical home in Milwaukee, Wisconsin is worth about $229,887 as of 2026-07-03, up 3.5% over the past year and up 38.8% over five years. Source: Zillow Home Value Index, compiled by Sawar Homes.
Milwaukee is not one housing market. Across the city's 20 tracked ZIP codes, typical home values run from $96,208 in 53206 to $378,660 in 53203 — nearly a fourfold spread inside a single municipality. Any citywide number is an average of very different submarkets, and the citywide typical value of $229,887 should be read that way.
That citywide figure ranks 19th of 19 Milwaukee County municipalities — the lowest typical value in the county — about $164,400 (42%) below the county median of $394,258 and roughly half the seven-county region median of $455,834. Yet the top of the city's ZIP range overlaps the county's mid-priced suburbs: 53203 ($378,660) and 53202 ($371,812) price above West Allis, Cudahy, and St. Francis.
Growth has been broad: 38.8% over five years citywide, with 3.5% added in the past year. Typical rent is $1,450 per month, up 4.1%, producing a citywide gross rent yield of 7.57%.
The ZIP ladder is the market map. Above $300,000: 53203 ($378,660), 53202 ($371,812), and 53207 ($311,329). A middle band runs from 53221 ($293,673) through 53219 ($271,661), 53222 ($265,891), 53224 ($240,315), 53225 ($238,163), 53208 ($236,227), 53223 ($231,153), 53215 ($222,456), and 53212 ($221,007). Below $200,000: 53233 ($185,253), 53216 ($177,110), 53210 ($170,562), 53209 ($167,509), 53204 ($167,472), 53218 ($167,300), 53205 ($159,247), and 53206 ($96,208).
Rents compress where values spread. The highest tracked ZIP rent, $1,770 in 53203, is less than double the lowest, $937 in 53206 — while the value gap between those ZIPs is nearly fourfold. Some lower-value ZIPs post rents near the top of the range: 53205 shows $1,617 typical rent on a $159,247 typical value, compared with $1,661 rent on a $371,812 value in 53202. That compression is what drives the citywide 7.57% gross yield, and it means yield varies enormously by ZIP.
Trajectory: values rose 3.5% over the past year, a moderate pace next to the five-year gain of 38.8% — a five-year record essentially in line with West Allis (38.5%) and Cudahy (38.7%). Rent growth of 4.1% modestly outpaced value growth over the past year. None of these rates are guaranteed to persist.
| ZIP code | Typical home value | 1-year change | Typical rent |
|---|---|---|---|
| 53203 | $378,660 | -3.4% | $1,770/mo |
| 53202 | $371,812 | -0.3% | $1,661/mo |
| 53207 | $311,329 | +3.0% | $1,585/mo |
| 53221 | $293,673 | +4.3% | $1,437/mo |
| 53219 | $271,661 | +3.8% | $1,283/mo |
| 53222 | $265,891 | +4.5% | $1,575/mo |
| 53224 | $240,315 | +3.7% | $1,427/mo |
| 53225 | $238,163 | +4.4% | $1,223/mo |
| 53208 | $236,227 | +3.5% | $1,227/mo |
| 53223 | $231,153 | +5.4% | $1,504/mo |
| 53215 | $222,456 | +2.6% | $989/mo |
| 53212 | $221,007 | +3.2% | $1,288/mo |
| 53233 | $185,253 | -3.0% | $1,227/mo |
| 53216 | $177,110 | +5.4% | $1,155/mo |
| 53210 | $170,562 | 0.0% | $1,243/mo |
| 53209 | $167,509 | +2.9% | $1,341/mo |
| 53204 | $167,472 | +5.7% | $1,412/mo |
| 53218 | $167,300 | +2.4% | $1,344/mo |
| 53205 | $159,247 | +2.1% | $1,617/mo |
| 53206 | $96,208 | +13.5% | $937/mo |
| Homes sold (arms-length, single-family) | 6,469 |
|---|---|
| Median sale price | $213,000 |
| Middle 50% of sales | $127,500 to $290,000 |
| Government-backed financing (FHA/VA/USDA) | 3.4% |
| Seller-financed | 0.4% |
Over the 12 months ending June 2026, 6,469 single-family homes sold in Milwaukee, Wisconsin in arms-length transactions, at a median price of $213,000. Half of those sales fell between $127,500 and $290,000. 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 Milwaukee is $229,887, while homes that actually changed hands had a median price of $213,000 — a difference of -7.3%. 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 should pick the ZIP before picking the house. A $240,000 budget covers the typical value in 13 of the 20 tracked ZIPs, lands within a few hundred dollars of typical in 53224 ($240,315), and falls roughly $71,000-$139,000 short of typical in 53207, 53202, and 53203. The spread also means county-median comparisons cut both ways: the city as a whole is priced 42% below the county median, but 53203 and 53202 are not discount markets by any measure. Buyers comparing city versus suburb should compare specific ZIPs: 53207 at $311,329 prices above every adjacent peer municipality, including Cudahy ($292,625) and St. Francis ($292,464), while 53219 at $271,661 undercuts West Allis ($278,519).
Sellers get to choose the framing the data supports for their submarket. In the sub-$200,000 ZIPs, the citywide 7.57% gross yield and rent figures like 53205's $1,617 make investor buyers a real part of the audience. In 53202, 53203, and 53207, listings compete with suburban alternatives on price, so suburb-level comps matter alongside city ones. Everywhere, the 38.8% five-year appreciation means long-held properties likely carry significant equity, and the 3.5% one-year pace argues for pricing discipline rather than aggressive premiums. Historical figures do not guarantee any individual sale outcome.
Milwaukee's calendar revolves around its lakefront. Henry Maier Festival Park hosts Summerfest — one of the world's largest music festivals — plus a summer-long rotation of cultural festivals including Festa Italiana, German Fest, Irish Fest, Mexican Fiesta, and Black Arts Fest MKE. The RiverWalk threads through downtown's restaurant and brewery scene, and the lakefront parks, the Third Ward's Public Market, and Deer District round out a city where most weekends come with something to do — much of it free.
Dates and details change year to year — check each event’s organizers for current schedules.
Citywide, $229,887 as of April 30, 2026. By ZIP code it ranges from $96,208 in 53206 to $378,660 in 53203.
The highest typical values are in 53203 ($378,660), 53202 ($371,812), and 53207 ($311,329). The lowest are in 53206 ($96,208), 53205 ($159,247), and 53218 ($167,300).
Citywide gross rent yield is 7.57%, based on typical rent of $1,450 per month against the $229,887 typical value. That is a gross figure — before taxes, insurance, vacancy, and maintenance — and it varies widely by ZIP code.
Typical values rose 3.5% over the past year and 38.8% over five years, while rents rose 4.1% year over year. Past appreciation does not guarantee future results.
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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.
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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.