Metro area index
Home appreciation in the Milwaukee-Waukesha, WI metro area
FHFA HPI® data shows the Milwaukee-Waukesha, WI metro area's all-transactions index changed +6.2% over the year to Q2 2026, versus +5.6% for Wisconsin and +3.0% for the U.S. That ranks 56th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +6.2%
- 5-year change
- +51.9%
- Since Q1 1995
- +251%
- Metro rank (1 year)
- 56th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Milwaukee-Waukesha, WI vs Wisconsin and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Milwaukee-Waukesha, WI: 350.8
- Wisconsin: 363.5
- United States: 391.6
Appreciation by time window
| Window | Metro | WI | U.S. | Gap vs WI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +6.2% | +5.6% | +3.0% | +0.6 pts | +3.2 pts |
| 3 years | +20.9% | +20.9% | +12.9% | −0.1 pts | +8.0 pts |
| 5 years | +51.9% | +54.0% | +41.3% | −2.0 pts | +10.6 pts |
| 10 years | +101% | +106% | +93.3% | −4.9 pts | +7.5 pts |
| Since Q1 1995 | +251% | +264% | +292% | −12.7 pts | −40.7 pts |
3-digit ZIP regions in the Milwaukee-Waukesha, WI area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 532 · Milwaukee, WI area | WI | +5.8% | +53.6% | +278% | 100% |
| 530 · Sheboygan, WI area | WI | +6.5% | +53.5% | +241% | 64% |
| 531 · Kenosha, WI area | WI | +6.6% | +52.2% | +248% | 49% |
Boom, bust, and recovery in Milwaukee-Waukesha, WI area
Milwaukee-Waukesha, WI area's index peaked in Q1 2007, fell 15.6% to its low in Q2 2012, and regained its peak in Q2 2018, about 11.2 years after the top. Today it sits +86.1% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2007 | Q2 2012 | -15.6% | Q2 2018 (11.2 yrs) | +86.1% |
| WI | Q1 2008 | Q1 2014 | -11.9% | Q2 2017 (9.2 yrs) | +97.4% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Milwaukee-Waukesha, WI area's index has changed +58.5% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | WI after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +2.3% | +1.7% | -0.8% |
| 3 years | +9.8% | +10.1% | +10.1% | +2.8% |
| 5 years | +24.0% | +22.5% | +24.1% | +13.9% |
| 10 years | +39.1% | +44.4% | +47.9% | +39.0% |
| Since Q1 1995 | +121% | +58.5% | +64.2% | +76.8% |
If you bought in the Milwaukee-Waukesha, WI area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +245% | $1,033,707 |
| Q2 2000 | +178% | $835,466 |
| Q2 2005 | +97.6% | $592,869 |
| Q2 2010 | +107% | $619,676 |
| Q2 2015 | +108% | $624,048 |
| Q2 2020 | +68.5% | $505,363 |
| Q2 2021 | +51.9% | $455,755 |
| Q2 2023 | +20.9% | $362,600 |
| Q2 2025 | +6.2% | $318,588 |
Frequently asked questions
- How much have home prices risen in the Milwaukee-Waukesha, WI area?
- FHFA HPI® data for the Milwaukee-Waukesha, WI metro area shows changes of +6.2% over one year, +51.9% over five years, and +101% over ten years to Q2 2026, and +251% since Q1 1995.
- Is the Milwaukee-Waukesha, WI area beating the national average?
- Over the past year the metro's index moved +3.2 pts versus the U.S.; over five years the gap is +10.6 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.