City 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 | $425,391 |
|---|---|
| 1-year change | +5.8% |
| 5-year change | +35.5% |
| Typical rent | $1,510 per month |
| Gross rent yield | +4.3% |
The typical home in Waukesha, Wisconsin is worth about $425,391 as of 2026-07-03, up 5.8% over the past year and up 35.5% over five years. Source: Zillow Home Value Index, compiled by Sawar Homes.
The city of Waukesha is the value play inside its own county. The typical home is worth $425,391 as of April 2026, while the Waukesha County median sits at $534,102. That is a gap of roughly $109,000 — about 20% — and it ranks the city 24th of 27 municipalities in the county by typical value.
The discount has not come with slow appreciation. Values rose 5.8% over the past year and 35.5% over five years. Rents are moving too: the typical rent is $1,510 a month, up 4.6% year over year, which works out to a 4.26% gross rent yield on the typical home.
Waukesha also prices under the broader market. The seven-county Southeast Wisconsin region carries a $455,834 median, so the county seat sits about $30,000 below the region as well as far below its own county.
Position first: 24 of 27 in Waukesha County is near the bottom of the value table, which is unusual for a county seat of this size. Nearby comparisons frame it. New Berlin runs $460,241 and Menomonee Falls $443,289 — both above Waukesha — while Big Bend ($406,371) and the village of Pewaukee ($404,276) come in below.
The city is really three markets by ZIP code. ZIP 53189 carries a $504,518 typical value, 53188 sits at $428,235, and 53186 at $366,950. That is a $137,568 spread inside one municipality, from near the county median at the top to well under the region median at the bottom.
On the rental side, ZIP 53188 rents around $1,539 and 53186 around $1,477 against the citywide $1,510. Rent growth of 4.6% has run just behind value growth of 5.8% over the past year, holding the gross yield near 4.26%. Gross yield excludes taxes, insurance, and upkeep.
| ZIP code | Typical home value | 1-year change | Typical rent |
|---|---|---|---|
| 53189 | $504,518 | +6.4% | — |
| 53188 | $428,235 | +4.7% | $1,539/mo |
| 53186 | $366,950 | +5.4% | $1,477/mo |
| Homes sold (arms-length, single-family) | 1,023 |
|---|---|
| Median sale price | $360,000 |
| Middle 50% of sales | $274,950 to $455,000 |
| Government-backed financing (FHA/VA/USDA) | 2.1% |
| Seller-financed | 0.3% |
Over the 12 months ending June 2026, 1,023 single-family homes sold in Waukesha, Wisconsin in arms-length transactions, at a median price of $360,000. Half of those sales fell between $274,950 and $455,000. 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 Waukesha is $425,391, while homes that actually changed hands had a median price of $360,000 — 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: the ZIP spread is the practical takeaway. A budget that buys the typical home in 53186 ($366,950) is roughly $137,000 short of the typical home in 53189 ($504,518), so anchoring a search to one citywide number can misprice an offer by a wide margin. The city's 35.5% five-year run shows what the market has done; past appreciation does not guarantee future results.
Sellers: Waukesha's price point is about $109,000 under the county median, which puts listings here in front of buyers priced out of much of the rest of Waukesha County. Values rose 5.8% in the past year, but the right comp set depends on ZIP — a 53189 home and a 53186 home are different listings even at the same square footage. Pricing to the ZIP-level data, not the citywide average, is the starting point.
Downtown Waukesha has quietly become one of the metro's better small downtowns — a bending Main Street of indie shops, guitar history (it's Les Paul's hometown), gallery nights, and the Fox Riverwalk. The city bridges urban amenities and lake country's outdoor life.
Dates and details change year to year — check each event’s organizers for current schedules.
As of April 2026, the typical home value in the city of Waukesha is $425,391. By ZIP code it ranges from $366,950 in 53186 to $428,235 in 53188 and $504,518 in 53189.
Yes. The city's $425,391 typical value is about $109,000 below the Waukesha County median of $534,102, and Waukesha ranks 24th of 27 municipalities in the county by typical value.
Values rose 5.8% over the past year and 35.5% over the past five years through April 2026. Past growth does not guarantee future results.
The typical rent is $1,510 a month, up 4.6% year over year. ZIP 53188 rents around $1,539 and ZIP 53186 around $1,477. Against the typical home value, that is a gross rent yield of about 4.26%, before taxes and expenses.
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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.