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 | $2,005,472 |
|---|---|
| 1-year change | +13.7% |
| 5-year change | +44.6% |
| Typical rent | not published |
The typical home in Oconomowoc Lake, Wisconsin is worth about $2,005,472 as of 2026-07-03, up 13.7% over the past year and up 44.6% over five years. Source: Zillow Home Value Index, compiled by Sawar Homes.
Oconomowoc Lake is the highest-value housing market in Waukesha County, and it is not close. As of April 30, 2026, the typical home value in the village is $2,005,472. That ranks 1st of 27 Waukesha County municipalities tracked by typical value. The next-closest values in the data, Summit at $765,778 and Delafield at $757,187, sit more than $1.2 million below it.
The gap to the broader market is the defining number here. Waukesha County's median typical value is $534,102, so Oconomowoc Lake runs about 3.8 times the county figure. Against the seven-county southeast Wisconsin regional median of $455,834, it is about 4.4 times the typical value.
Prices have been moving, too. Values are up 13.7% over the past year and 44.6% over the past five years. On a typical value above $2 million, one year at that pace translates to a change measured in hundreds of thousands of dollars.
Within Waukesha County, Oconomowoc Lake stands alone at the top of the price ladder. Its typical value of $2,005,472 is roughly 2.6 times that of the second-ranked nearby market, Summit ($765,778). The other nearby peers by value are Delafield ($757,187), Nashotah ($727,339), and Elm Grove ($697,367). Every one of those markets is itself well above the county median of $534,102, and Oconomowoc Lake more than doubles all of them.
The growth trajectory has accelerated. Five-year appreciation totals 44.6%, which works out to a single-digit average annual pace. The most recent twelve months alone came in at 13.7%, ahead of that longer-run trend. Whether that pace continues is unknowable from the data; what the data does show is that the past year outran the five-year average.
For buyers, the starting point is a two-million-dollar market. The typical home value of $2,005,472 is about 3.8 times the Waukesha County median, so budgets built around county-typical numbers do not transfer here. Buyers who want the same corner of the county at a lower entry point have data-supported alternatives nearby: Summit at $765,778, Delafield at $757,187, and Nashotah at $727,339 all carry typical values roughly $1.2 million to $1.3 million below Oconomowoc Lake's.
For sellers, the 13.7% one-year change is the number to watch. Comparable sales from twelve or more months ago may sit meaningfully below today's typical value, so pricing off stale comps risks leaving money on the table, while pricing far above the current data risks sitting. Markets priced this far above the regional median of $455,834 typically see fewer active buyers than county-median price points, which makes accurate, current pricing more consequential, not less.
The village of Oconomowoc Lake is almost entirely residential, wrapping around the wooded shoreline of its namesake lake just east of the city of Oconomowoc, with the historic Oconomowoc Lake Club dating to the area's 1800s resort era. There is no commercial district within the village, so daily errands happen in neighboring Oconomowoc, and I-94 passes just to the south for commutes toward Milwaukee or Madison.
The typical home value in the Village of Oconomowoc Lake is $2,005,472 as of April 30, 2026. That is a market-wide typical value, not a price for any specific property; individual homes trade above and below it.
By typical home value, yes: it ranks 1st of 27 Waukesha County municipalities tracked, at $2,005,472 against a county median of $534,102. The next-highest nearby values are Summit at $765,778 and Delafield at $757,187.
As of April 30, 2026, typical values are up 13.7% over the past year and 44.6% over the past five years. Past appreciation does not guarantee future results.
The seven-county regional median typical value is $455,834. Oconomowoc Lake's typical value of $2,005,472 is about 4.4 times that figure, a difference of roughly $1.55 million.
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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.