Milwaukee market pulse
Real public data for Milwaukee's ZIP codes, updated as the agencies publish.
Metro prices
+6.1%
in 1 year · Milwaukee metro · 2025 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2025 Q2 |
|---|---|---|
| 2025 Q2 | 446.8 | — |
| 2025 Q3 | 450.2 | +0.8% |
| 2025 Q4 | 440.2 | -1.5% |
| 2026 Q1 | 456.6 | +2.2% |
| 2026 Q2 | 474.0 | +6.1% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Milwaukee-Waukesha, WI: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
+44%
in 5 years · Milwaukee metro · 2021 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2021 Q2 |
|---|---|---|
| 2021 Q2 | 328.7 | — |
| 2021 Q3 | 332.8 | +1.2% |
| 2021 Q4 | 329.0 | +0.1% |
| 2022 Q1 | 341.7 | +4.0% |
| 2022 Q2 | 367.2 | +12% |
| 2022 Q3 | 365.6 | +11% |
| 2022 Q4 | 361.8 | +10% |
| 2023 Q1 | 370.7 | +13% |
| 2023 Q2 | 390.5 | +19% |
| 2023 Q3 | 397.1 | +21% |
| 2023 Q4 | 388.9 | +18% |
| 2024 Q1 | 408.4 | +24% |
| 2024 Q2 | 421.2 | +28% |
| 2024 Q3 | 420.3 | +28% |
| 2024 Q4 | 415.1 | +26% |
| 2025 Q1 | 430.8 | +31% |
| 2025 Q2 | 446.8 | +36% |
| 2025 Q3 | 450.2 | +37% |
| 2025 Q4 | 440.2 | +34% |
| 2026 Q1 | 456.6 | +39% |
| 2026 Q2 | 474.0 | +44% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Milwaukee-Waukesha, WI: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
+109%
in 10 years · Milwaukee metro · 2016 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2016 Q2 |
|---|---|---|
| 2016 Q2 | 227.0 | — |
| 2016 Q3 | 230.0 | +1.3% |
| 2016 Q4 | 227.4 | +0.2% |
| 2017 Q1 | 227.3 | +0.1% |
| 2017 Q2 | 238.8 | +5.2% |
| 2017 Q3 | 241.6 | +6.4% |
| 2017 Q4 | 235.7 | +3.8% |
| 2018 Q1 | 242.4 | +6.8% |
| 2018 Q2 | 253.2 | +12% |
| 2018 Q3 | 255.8 | +13% |
| 2018 Q4 | 253.1 | +11% |
| 2019 Q1 | 254.0 | +12% |
| 2019 Q2 | 266.8 | +18% |
| 2019 Q3 | 271.8 | +20% |
| 2019 Q4 | 268.6 | +18% |
| 2020 Q1 | 271.6 | +20% |
| 2020 Q2 | 283.3 | +25% |
| 2020 Q3 | 294.8 | +30% |
| 2020 Q4 | 296.8 | +31% |
| 2021 Q1 | 307.7 | +36% |
| 2021 Q2 | 328.7 | +45% |
| 2021 Q3 | 332.8 | +47% |
| 2021 Q4 | 329.0 | +45% |
| 2022 Q1 | 341.7 | +51% |
| 2022 Q2 | 367.2 | +62% |
| 2022 Q3 | 365.6 | +61% |
| 2022 Q4 | 361.8 | +59% |
| 2023 Q1 | 370.7 | +63% |
| 2023 Q2 | 390.5 | +72% |
| 2023 Q3 | 397.1 | +75% |
| 2023 Q4 | 388.9 | +71% |
| 2024 Q1 | 408.4 | +80% |
| 2024 Q2 | 421.2 | +86% |
| 2024 Q3 | 420.3 | +85% |
| 2024 Q4 | 415.1 | +83% |
| 2025 Q1 | 430.8 | +90% |
| 2025 Q2 | 446.8 | +97% |
| 2025 Q3 | 450.2 | +98% |
| 2025 Q4 | 440.2 | +94% |
| 2026 Q1 | 456.6 | +101% |
| 2026 Q2 | 474.0 | +109% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Milwaukee-Waukesha, WI: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
ZIP by ZIP
+108%
The median ZIP's house price index, 2015–2025. 18 ZIPs, from +76% to +169%.
One-year ZIP changes are noisy: of last year's top-3 ZIPs in our 50 cities, 1 in 15 was top 3 again. Past change, not a forecast.
About these figures
FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. 19 of Milwaukee's 22 ZIPs have an index; FHFA publishes one only where enough sales exist. A ZIP whose index stops before the latest year shows the year it ends instead of changes. Each index has its own base, so compare a ZIP's changes, not its level.
Rent or buy here
EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $1,654 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$615
a month more to own a typical sample home than HUD's rent for its size, ZIP 53207
- Own: 3-bedroom sample house, $309,900Sample: fictional home, for the demo.
- EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $1,654 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$2,235 a monthNot included: upkeep, utilities, flood insurance, special assessments.
- Rent: HUD fair market rent, 3 bedrooms
- $1,620 a monthHUD Small Area Fair Market Rent, FY2027: a 40th-percentile rent for a standard home, utilities included. Not an asking rent.
Lending
6.624%
Median rate, 30-year fixed conventional · 2,354 loans · 2025
2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Milwaukee's census tracts: 3,595 loans. Loans that closed, not offers: a rate depends on your credit, down payment, points and the day you lock it.
- Middle half of rates
- 6.375% to 6.875%
- Loan costs at closing
- $2,986 medianMiddle half $2,396 to $3,874: origination charges (points included) and settlement services, Closing Disclosure section D · 2,637 loans
- Loan limits, 2026
- $832,750 conformingAbove it, a jumbo loan with its own rates and rules; FHA limit $541,287 (one-unit home, Milwaukee County). Limits set by FHFA and HUD.
More lending figures
- Borrowed, every loan on the home combined
- 95% of the value (median)Middle half 83.4% to 96.5%. 76.1% of buyers borrowed more than 80% of the value, 59.9% more than 90%, 35.1% more than 95%. HMDA's combined loan-to-value counts every loan on the home (second loans, down-payment-assistance loans, financed FHA or VA fees) against the value the lender used, so it doesn't show the cash buyers put down · 3,435 loans
- Loan types
- Conventional 76.2% · FHA 19%VA 4.8% · USDA 0%
- Discount points
- 33.7% of loans paid pointsMedian paid: $1,169. Points buy a lower rate.
For comparison: 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.
Flood and insurance
$1,307 a year
Median of 21 Milwaukee ZIPs' average homeowners premiums, 2022. Premiums have risen since; get quotes for your address.
- Federal flood insurance
- 611 policies in force · 569 claims since 2000FEMA National Flood Insurance Program, summed over 22 ZIPs (policies in force Jun 30, 2026; claims since 2000). Private flood policies aren't counted.
- Policies insurers didn't renew
- 1% in the median ZIPU.S. Treasury Federal Insurance Office, 2022.
Most homeowners policies exclude flood, so flood insurance is a separate policy. Source: FEMA FloodSmart: What is my flood risk?, retrieved 2026-10-09 (opens in a new tab) Check an address on FEMA's flood map (opens in a new tab)
County hazard ratings (FEMA)
Natural hazards, compared with other U.S. counties
- Milwaukee County, WI: expected yearly losses rated relatively high for inland flooding, heat wave, tornado, winter weather.
Other ratings for Milwaukee County, WI
- EarthquakeRelatively Low
- WildfireVery Low
- HurricaneVery Low
- Coastal floodingVery Low
- HailRelatively Moderate
- Washington County, WI: expected yearly losses rated relatively high for tornado.
Other ratings for Washington County, WI
- EarthquakeVery Low
- WildfireVery Low
- HurricaneVery Low
- Inland floodingRelatively Moderate
- Heat waveRelatively Moderate
- Winter weatherRelatively Moderate
- HailRelatively Moderate
- Waukesha County, WI: expected yearly losses rated relatively high for inland flooding, tornado, winter weather, hail.
Other ratings for Waukesha County, WI
- EarthquakeRelatively Low
- WildfireVery Low
- HurricaneVery Low
- Heat waveRelatively Moderate
FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county (NRI December 2025): expected annual losses to buildings, people and agriculture; FEMA's social-vulnerability adjustments aren't included. This describes each county, not one home. Check an address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.
What's new in Milwaukee
Rail openings, zoning changes and big projects from primary sources, newest first. News, not a price forecast.
- Zoning change
Milwaukee’s ADU ordinance takes effect
One ADU can be a limited use in listed residential districts. The main residence must be owner-occupied at application; detached units still need compliant sewer and water connections.
Milwaukee DCD, Accessory Dwelling Units and zoning standards (opens in a new tab) - Rail opened
The Hop’s Lakefront station opens with full L-Line service
The Lakefront stop inside the Couture transit concourse opens for full service. Earlier limited Sunday service did not serve this stop; pin is an approximate entrance address.
City of Milwaukee / The Hop, L-Line opening (opens in a new tab)
Rules in Wisconsin
From state law, standard contract forms and local custom. Research, not legal advice.
- ClosingRule
- A title company runs the closing and holds the money.
- Seller's disclosureRule
- Real Estate Condition Report (Wis. Stat. 709.02–709.03) You may cancel within 2 business days in some cases: a report received after the offer discloses a defect, or is incomplete or wrong about an item.
- Closing taxesRule
- Wisconsin real estate transfer fee: 0.3% of the price · seller pays
How buying works in Wisconsin
- Who runs the closing
- A title company runs the closing and holds the money. Typical time from contract to keys: about 30 days.
- The contract
- Your signed offer becomes a binding contract once the seller accepts it.
Details
WB-11 Residential Offer to Purchase (state-approved form)
- Buyer agreement
- WB-36 Buyer Agency/Tenant Representation Agreement, signed before touring.
Details
Wisconsin lets a firm serve a buyer as a customer without an agency agreement (Wis. Stat. 452.134(1)(a)); NAR's 2024 rule requires a written agreement before touring.
Source: Wis. Stat. ch. 452 (452.134 agency not required; 452.19 fees to unlicensed persons) (2023-24 statutes, updated 2026-07-01)
- Inspection
- About 10 days for inspections.
Details
Inspection contingency days are a blank in the WB-11; 10 is a sample.
- Earnest money
- 1–2% of the price, due within 3 days, held by: Listing firm trust account or title company.
Details
Sample values; the WB-11 sets them.
- Seller's disclosure
- Real Estate Condition Report (Wis. Stat. 709.02–709.03) You may cancel within 2 business days in some cases: a report received after the offer discloses a defect, or is incomplete or wrong about an item.
Details
The seller owes the report within 10 days after acceptance (709.02). Written rescission within 2 business days of receiving it returns all deposits; it is the chapter's only remedy (709.05).
Source: Wis. Stat. ch. 709 real estate condition report; §709.05 rescission (2023-24 statutes, updated 2026-07-01)
- Loan and appraisal
- Loan contingency: 21 days (set in the contract).
Details
The WB-11 financing and appraisal contingencies are optional sections with deadlines set in the offer; 21 days is a sample.
- Title insurance
- The seller customarily pays for the owner's policy.
Details
The WB-11 has the seller provide title insurance at the seller's cost [medium confidence].
- Property tax for a new owner
- Your property tax follows the county's assessed market value. About 2.0% of the price a year is our planning figure for Milwaukee; your bill can differ.
Details
Municipal assessors value at full value (with an assessment ratio); primary homes get the lottery credit; a sale doesn't reset value.
Census ACS 2020–2024 median tax ÷ median value in Milwaukee (1.99%). Wisconsin taxes assessed full value with the lottery credit on primary homes; a sale doesn't reset value. Owner-reported values lag the market; treat as an estimate.
- Agent credits to the buyer
- Wisconsin allows an agent to credit part of their pay to the buyer, with the lender's approval.
Details
No rule bars crediting part of the fee to a principal; Wis. Stat. 452.19 bars paying unlicensed people for brokerage work or referrals [medium confidence].
Source: Wis. Stat. ch. 452 (452.134 agency not required; 452.19 fees to unlicensed persons) (2023-24 statutes, updated 2026-07-01)
Closing taxes
| Tax | Customarily paid by | Rate |
|---|---|---|
| Wisconsin real estate transfer fee | Seller | 0.3% of the priceWis. Stat. §77.22 real estate transfer fee (30¢ per $100, on the grantor) |
Sources (9)
- WB-11 Residential Offer to Purchase (state-approved form) · current DSPS form (opens in a new tab)
- Wis. Stat. ch. 709 real estate condition report; §709.05 rescission · 2023-24 statutes, updated 2026-07-01 (opens in a new tab)
- Wis. Stat. ch. 452 (452.134 agency not required; 452.19 fees to unlicensed persons) · 2023-24 statutes, updated 2026-07-01 (opens in a new tab)
- Wis. Stat. §77.22 real estate transfer fee (30¢ per $100, on the grantor) · retrieved 2026-09-27 (opens in a new tab)
- 2025 Wisconsin Act 69, Wis. Stat. §452.19(3)–(4) (in effect Jan 1, 2027) · enacted Dec 9, 2025; retrieved 2026-09-27 (opens in a new tab)
- Census ACS 2020–2024 5-year, city: median real estate taxes paid (B25103) ÷ median home value (B25077) · ACS 2020–2024 (opens in a new tab)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner's Insurance Report: Data for 2023 (Tables 4–5; Homiy cites a few derived state figures) · 2023 data, published July 2026 (opens in a new tab)
- Census CHARS 2025: average contract price per sq ft of new contractor-built houses (excludes lot), by region · 2025 (opens in a new tab)
- FHFA 2026 conforming loan limits, county file · 2026 (opens in a new tab)
Programs and deadlines
Official pages for Milwaukee, the same for every buyer. Each program decides who qualifies.
- Down-payment help
- Easy Close Advantage DPA (opens in a new tab) (Wisconsin Housing and Economic Development Authority (WHEDA))Up to 6% of the price with a WHEDA first mortgage; the Capital Access DPA ($7,500) reopened January 15, 2026 with limited funding.Official page, checked 2026-09-28.Wisconsin's housing finance agency runs it; the program decides who qualifies and for how much.
- Down-payment help in Milwaukee
- Milwaukee Home Down Payment Assistance Program (opens in a new tab) (City of Milwaukee)Forgivable grants of up to $5,000, or up to $7,000 inside the city's Community Development Block Grant area.Official page, checked 2026-09-28.
- Homestead exemption
- Wisconsin Lottery and Gaming Credit Program (opens in a new tab) (Wisconsin Department of Revenue)A property tax credit for a home its owner uses as a primary residence on January 1; an owner who bought after January 1 may apply only if the previous owner also lived there then.Deadline: if the bill lacks it, claim with the municipal treasurer by January 31 after the billOfficial page, checked 2026-09-28.
- If you disagree with your assessment
- Appealing an Assessment (FAQ) (opens in a new tab) (City of Milwaukee Assessor's Office)An assessor reviews your appeal and the Board of Assessors decides; after that, the Board of Review, an independent citizen board, hears objections.When: 4:45 PM on the third Monday in MayOfficial page, checked 2026-09-28.
- After you buy: alerts on your deed
- Property Fraud Alert (opens in a new tab) (Milwaukee County Register of Deeds)A free service that notifies you when the exact name you registered is listed as grantor or grantee on a recorded document.Official page, checked 2026-09-28.
Sample homes in Milwaukee, each with its estimated monthly cost and the things to check. Found one somewhere else? Check it here.
Sources (31)
- FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions) · 2000–2025 (updated 2026-03-31) (opens in a new tab)
- FHFA House Price Index, purchase-only, not seasonally adjusted, quarterly: Milwaukee-Waukesha, WI (metro area 33340) · 2000 Q1–2026 Q2 (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates (ZCTA), with 90% margins of error: population, median household income, median home value, median gross rent, median real estate taxes paid, median monthly owner costs with a mortgage, owner-occupied share and units, owner homes in buildings with 5+ units, median year built · ACS 2020–2024 (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates (ZCTA): population and its margin of error, for the 5-year change and its significance test · ACS 2015–2019 (opens in a new tab)
- FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions) · 2025 (updated 2026-03-31) (opens in a new tab)
- U.S. Census Bureau, 2020 ZCTA to place relationship file, 2025 Gazetteer and cartographic boundaries (city ZIPs, centers, bounds) · 2020 ZCTAs; 2025 place boundaries (opens in a new tab)
- U.S. Census Bureau, Population Estimates, Vintage 2025 (metropolitan and micropolitan areas) · July 2020 → July 2025 (opens in a new tab)
- U.S. Census Bureau, Building Permits Survey: new privately-owned housing units authorized, by CBSA · Sep 2025–Aug 2026 (opens in a new tab)
- FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county · NRI December 2025 (opens in a new tab)
- U.S. Department of Housing and Urban Development, Small Area Fair Market Rents by ZIP code, FY2027 · FY2027 (from Oct 1, 2026) (opens in a new tab)
- FEMA, OpenFEMA API: NFIP Redacted Policies, version 3 (policies in force). This product uses the Federal Emergency Management Agency’s OpenFEMA API, but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s). · in force Jun 30, 2026; data refreshed 2026-07-27; accessed 2026-09-27 (opens in a new tab)
- FEMA, OpenFEMA API: NFIP Redacted Claims, version 3 (claims since 2000). This product uses the Federal Emergency Management Agency’s OpenFEMA API, but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s). · data refreshed 2026-08-04; accessed 2026-09-27 (opens in a new tab)
- U.S. Treasury, Federal Insurance Office: Analyses of U.S. Homeowners Insurance Markets, 2018–2022, Supporting Underlying Metrics by ZIP code (premiums per policy, nonrenewal rate) · 2018–2022 (published January 2025) (opens in a new tab)
- FHFA House Price Index, purchase-only, not seasonally adjusted: Milwaukee-Waukesha, WI (metro area 33340) · 2026 Q2 (opens in a new tab)
- FHFA House Price Index, all-transactions, not seasonally adjusted: Milwaukee-Waukesha, WI (metro area 33340), calendar-year averages of the quarterly index · 2020–2025 (opens in a new tab)
- U.S. Bureau of Labor Statistics, Current Employment Statistics, total nonfarm, not seasonally adjusted (series SMU55333400000000001) · Aug 2026 (preliminary) (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates for the city of Milwaukee, WI (Census place 5553000): median home value, median household income, median gross rent, with 90% margins of error · ACS 2020–2024 (opens in a new tab)
- FFIEC Home Mortgage Disclosure Act (HMDA) data: 2025 Snapshot National Loan-Level Dataset (data as of June 1, 2026), via the CFPB HMDA Data Browser; Homiy's calculations · 2025 loans; retrieved 2026-09-27 (opens in a new tab)
- U.S. Department of Housing and Urban Development, FHA forward mortgage limits, one-unit limit for Milwaukee County, WI · CY2026 (Mortgagee Letter 2025-23) (opens in a new tab)
- FTA National Transit Database, General Transit Feed Specification Weblinks: the public-domain GTFS feeds agencies must publish · retrieved 2026-09-27 (opens in a new tab)
- City of Milwaukee: GTFS schedule · scheduled service 2026-09-27 to 2026-10-24 (opens in a new tab)
- WB-11 Residential Offer to Purchase (state-approved form) · current DSPS form (opens in a new tab)
- Wis. Stat. ch. 709 real estate condition report; §709.05 rescission · 2023-24 statutes, updated 2026-07-01 (opens in a new tab)
- Wis. Stat. ch. 452 (452.134 agency not required; 452.19 fees to unlicensed persons) · 2023-24 statutes, updated 2026-07-01 (opens in a new tab)
- Wis. Stat. §77.22 real estate transfer fee (30¢ per $100, on the grantor) · retrieved 2026-09-27 (opens in a new tab)
- 2025 Wisconsin Act 69, Wis. Stat. §452.19(3)–(4) (in effect Jan 1, 2027) · enacted Dec 9, 2025; retrieved 2026-09-27 (opens in a new tab)
- Census ACS 2020–2024 5-year, city: median real estate taxes paid (B25103) ÷ median home value (B25077) · ACS 2020–2024 (opens in a new tab)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner's Insurance Report: Data for 2023 (Tables 4–5; Homiy cites a few derived state figures) · 2023 data, published July 2026 (opens in a new tab)
- Census CHARS 2025: average contract price per sq ft of new contractor-built houses (excludes lot), by region · 2025 (opens in a new tab)
- FHFA 2026 conforming loan limits, county file · 2026 (opens in a new tab)
- Freddie Mac average (Primary Mortgage Market Survey) · Sep 24, 2026 (opens in a new tab)