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Prototype of a planned home-buying brokerage for the 50 largest U.S. cities. Not a licensed brokerage in any state, and no brokerage services are offered. Listings, people and companies are sample data; market statistics are real public data, cited where shown.

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Trends · Wisconsin

House prices and costs in Milwaukee, WI

How house prices moved across 22 Milwaukee ZIP codes, what buyers here borrowed and paid, what's new and how buying works in Wisconsin. Public data, with sources and dates. Past change, not a forecast.

Milwaukee-Waukesha, WI metro house prices +6.1% in the year to 2026 Q2 (FHFA, purchases)

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.

How house prices moved in Milwaukee, 2022–2025

Of 18 ZIPs with enough data, 17 rose 7% or more, 0 fell 7% or more and 0 moved less (no clear change); 1 swung too much from year to year to rank. Past rankings are a weak guide: of the ZIPs in their city's top 3 for 2019–2022, 25 of 134 (about 1 in 5) were top 3 again for 2022–2025; chance alone would give about 21. Past change, not a forecast.

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. Tap a ZIP to see it on the map.

Largest house-price rises, 2022–2025

3-year change of the ZIP index; ZIPs with an index every year, 5,000+ residents and 1,000+ owner-occupied homes. Left out as too jumpy: a ZIP whose index rose 7% or more in one year and fell as much in another. Each year's change below.

  1. 1ZIP 532062023 +16.0% · 2024 -4.6% · 2025 +25.2%+38.6%
  2. 2ZIP 53212 · includes Riverwest2023 +5.0% · 2024 +6.6% · 2025 +17.2%+31.2%
  3. 3ZIP 532182023 +8.1% · 2024 +13.2% · 2025 +7.1%+31.1%
  4. 4ZIP 532242023 +11.4% · 2024 +11.7% · 2025 +3.8%+29.2%
  5. 5ZIP 532092023 +12.6% · 2024 +5.7% · 2025 +7.9%+28.4%

Largest house-price falls, 2022–2025

3-year change of the ZIP index; ZIPs with an index every year, 5,000+ residents and 1,000+ owner-occupied homes. Left out as too jumpy: a ZIP whose index rose 7% or more in one year and fell as much in another. Each year's change below.

No Milwaukee ZIP's house prices fell 7% or more from 2022 to 2025.

Lowest owner-reported values

Median value owners report (Census ACS 2020–2024). Left out: ZIPs under 1,000 residents, less reliable estimates, and ZIPs where most owners live in condos or co-ops.

  1. 1ZIP 53206± $5.1K · ≈ $656/mo housing payment (est.) on a house, 20% down$83K
  2. 2ZIP 53204 · includes Walker's Point± $21K · ≈ $942/mo housing payment (est.) on a house, 20% down$124K
  3. 3ZIP 53218± $10K · ≈ $1,006/mo housing payment (est.) on a house, 20% down$133K
  4. 4ZIP 53216± $9.9K · ≈ $1,076/mo housing payment (est.) on a house, 20% down$143K
  5. 5ZIP 53215± $5K · ≈ $1,170/mo housing payment (est.) on a house, 20% down$157K

Population grew most

Residents, 2015–2019 to 2020–2024 (Census ACS): only changes larger than the margin of error, in ZIPs with 1,000+ residents.

No Milwaukee ZIP's population grew by more than its margin of error.

Public loan records · 2025

What buyers here actually borrowed and paid (2025)

2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Milwaukee's census tracts: 3,595 loans. These are loans that closed in Milwaukee, not offers: a rate depends on your credit, down payment, points and the day you lock it.

Interest rate, 30-year fixed (conventional)
6.375% to 6.875%Middle half of loans; median 6.624% · 2,354 loans
Loan costs at closing
$2,396 to $3,874Middle half; median $2,986. Origination charges (points included) and settlement services, Closing Disclosure section D · 2,637 loans
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: every loan on the home (second loans, down-payment-assistance loans and financed FHA or VA fees too) ÷ 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.
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)

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. Source: 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).

Research · dated and sourced

What's new in Milwaukee

Rail openings, zoning changes and big projects from primary sources, newest first. Stars on the map mark the ones with a location. News, not a price forecast.

  1. 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
  2. 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.

    Near ZIPs 53202, 53203

    City of Milwaukee / The Hop, L-Line opening

Metro area · public data

Milwaukee-Waukesha, WI

House prices, year to 2026 Q2
+6.1%FHFA purchase-only index
House prices, 5 years to 2026 Q2
+44.2%FHFA purchase-only index
House prices, 2025
+6.3%All sales and refinances, like the ZIP figures; 2022–2025: +23.8%
New homes permitted
2 per 1,000 residents3,180 homes · -10.5% vs a year earlier · Sep 2025–Aug 2026
Jobs, 12 months
-0.3%Aug 2026 (preliminary)
Population, July 2020 to July 2025
0.0%1,575,010 residents in July 2025 (Census estimates)
Mortgage rate benchmark
7.03%Freddie Mac average, week of Sep 24, 2026

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. New homes permitted is a supply signal: more permits per resident usually means more homes coming to market. Jobs, permits and population cover the whole metro.

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 this home. Check the address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.

Sources (9)

Research summary · not legal advice

How buying works in Wisconsin

The usual steps, deadlines and closing costs for a purchase in Milwaukee, from state law, standard contract forms and local custom. Contracts can change any of it. Homiy is a prototype: it isn't a licensed brokerage in Wisconsin and offers no services here.

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

Closing taxes in Milwaukee, who customarily pays and the rate
TaxCustomarily paid byRate
Wisconsin real estate transfer feeSeller0.3% of the priceWis. Stat. §77.22 real estate transfer fee (30¢ per $100, on the grantor)

Programs and after you buy

Down-payment help
Easy Close Advantage DPA (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 (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 (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) (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 (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.
Sources (9)

Methodology

How we measure, and what it isn't

Past change, not a forecast. These figures describe the past from public data; they don't tell you where prices go next.

House prices by ZIP, and the rankings

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. It's built from repeat sales and refinance appraisals of the same homes, not average sale prices, and FHFA publishes no margin of error for it. We rank ZIPs by the change over the last 3 years, only where FHFA published the index in every one of them, and only ZIPs with 5,000+ residents and 1,000+ owner-occupied homes. A change smaller than 7% either way is “no clear change”: in our 50 cities, the index's own year-to-year swings suggest sampling alone can move a three-year change about that much. A ZIP whose index rose 7% or more in one year and fell as much in another is left out as too jumpy. We show rises and falls, each year's change, and the city's and metro's figures for the same years. Past rankings are a weak guide: of the ZIPs in their city's top 3 for 2019–2022, 25 of 134 (about 1 in 5) were top 3 again for 2022–2025; chance alone would give about 21. Many ZIPs, especially dense ones, have no index.

City and metro price figures

City: the resident-weighted average of its ZIPs that have an index (the ZIP card says when that's only part of the city). Metro: FHFA's all-transactions index over the same calendar years, the ZIPs' method; the metro card also shows FHFA's purchase-only index for the latest quarter against a year and five years earlier. Where FHFA splits a metro into divisions (New York, Miami, Detroit and others), the division's index, named where it's shown. Jobs, permits and population always cover the whole metro.

Payment ÷ income

Monthly housing payment (est.) on a house at the ZIP's median value: 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments · 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. Property tax uses Milwaukee's rule for a new buyer (about 2.0% of the price a year, our planning figure); insurance is a typical premium. Not included: upkeep, utilities, flood insurance, special assessments. Divided by a month of the ZIP's median household income. The Census reports values over $2 million and incomes over $250,000 only as “or more”, so those shares are bounds (“at least”, “at most”). Left out where 50% or more of owner-occupied homes are in buildings with 5+ units: their HOA dues or co-op charges aren't in the payment. It combines two estimates, so no margin is computed. 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.

Census figures and margins of error

American Community Survey 5-year estimates, 2020–2024: the median value owners report for their homes (it lags sale prices; co-op owners report the value of their shares), median rent with utilities, median household income, residents, and the property tax and monthly costs owners report. Each comes with its 90% margin of error (±). Figures whose margin is 20–49% of the estimate are marked “less reliable” and left out of rankings and tags; figures with wider margins aren't shown. A population change (from 2015–2019) is shown only when it passes the Census Bureau's 90% significance test; otherwise it says “no clear change”. Milwaukee's own figures come from the Census's estimates for the city itself where published; otherwise they blend its ZIPs (no margin computed). Lists leave out ZIPs with fewer than 1,000 residents.

Tags

Lower home values:
The median value owners report is in the lowest quarter of the city's ZIPs (Census ACS). Less reliable estimates and ZIPs where most owners live in condos or co-ops aren't compared.
Population grew:
Residents rose 5% or more between the two latest five-year Census surveys, by more than the margin of error.
Mostly condos or co-ops:
Half or more of owner-occupied homes are in buildings with 5 or more units. Values there leave out HOA dues and co-op charges, so they aren't ranked.
New rail nearby:
A rail station opened within about a mile in 2023–2026.

“New rail nearby” uses our dated news pins: a ZIP whose center is within 1,600 m of a station that opened, plus the ZIP the station sits in. No tag describes price momentum.

Hazards and flood insurance

FEMA's National Risk Index rates each county's expected yearly losses from each hazard against all U.S. counties; we show those Expected Annual Loss ratings for every county the city lies in, without FEMA's social-vulnerability adjustments. They describe counties, not homes. Flood insurance counts are policies and claims in the federal program (NFIP) only. Check an address's flood zone on FEMA's flood map.

What buyers borrowed and paid

Public HMDA loan records: home-purchase first liens on owner-occupied 1–4 unit homes in the city (the card names the area covered), with the number of loans behind each figure. Loans that closed, not offers or quotes.

Neutral by design

We describe prices, payments, population counts, construction and rail lines. We don't describe places by who lives there, schools or crime, and we don't call areas “up-and-coming”, “transitional” or “safe”. Choose where to live for your own reasons.

Sources and dates