3-digit ZIP regional index
Home appreciation in ZIP codes 532xxMilwaukee, WI area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 532 changed +5.8% over the year to Q2 2026, compared with +5.6% for Wisconsin and +3.0% for the United States.
The region covers ZIP codes 53202–53295. Most of its 2010 population lived in Milwaukee County (100%). Communities in the region include West Allis, Wauwatosa, Greenfield, Whitefish Bay, Shorewood. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +5.8%
- 5-year change
- +53.6%
- Since Q1 1995
- +278%
- National rank (1 year)
- 157th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 532 vs Wisconsin and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 532: 377.8
- Wisconsin: 363.5
- Milwaukee-Waukesha, WI metro: 350.8
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 532 | WI | U.S. | Gap vs WI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +5.8% | +5.6% | +3.0% | +0.2 pts | +2.8 pts |
| 3 years | +21.4% | +20.9% | +12.9% | +0.5 pts | +8.5 pts |
| 5 years | +53.6% | +54.0% | +41.3% | −0.4 pts | +12.3 pts |
| 10 years | +110% | +106% | +93.3% | +4.6 pts | +17.0 pts |
| Since Q1 1995 | +278% | +264% | +292% | +14.3 pts | −13.7 pts |
If you bought in ZIP3 532 in…
Applying the regional index change from the same quarter of each year to Q2 2026 to an example $300,000 purchase price. Individual homes can differ widely from the regional average.
| Bought in | Index change | $300,000 then, at the regional rate |
|---|---|---|
| Q2 1995 | +270% | $1,109,683 |
| Q2 2000 | +191% | $872,675 |
| Q2 2005 | +96.2% | $588,489 |
| Q2 2010 | +109% | $627,522 |
| Q2 2015 | +118% | $652,935 |
| Q2 2020 | +73.5% | $520,399 |
| Q2 2021 | +53.6% | $460,819 |
| Q2 2023 | +21.4% | $364,213 |
| Q2 2025 | +5.8% | $317,532 |
How ZIP3 532 ranks
Over the past year ZIP3 532 ranks 157th of 882 3-digit ZIP regions nationally and 7th of 18 in Wisconsin. Its one-year change is +2.8 pts versus the nation and +0.2 pts versus Wisconsin. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Wisconsin |
|---|---|---|
| 1 year | 157th of 882 | 7th of 18 |
| 3 years | 157th of 882 | 10th of 18 |
| 5 years | 146th of 882 | 11th of 18 |
| 10 years | 181st of 882 | 9th of 18 |
| Since Q1 1995 | 380th of 879 | 9th of 18 |
Boom, bust, and recovery in ZIP3 532
ZIP3 532's index peaked in Q1 2007, fell 20.4% to its low in Q4 2013, and regained its peak in Q2 2019, about 12.2 years after the top. Today it sits +82.7% 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 |
|---|---|---|---|---|---|
| ZIP3 532 | Q1 2007 | Q4 2013 | -20.4% | Q2 2019 (12.2 yrs) | +82.7% |
| WI | Q1 2008 | Q1 2014 | -11.9% | Q2 2017 (9.2 yrs) | +97.4% |
| Metro | Q1 2007 | Q2 2012 | -15.6% | Q2 2018 (11.2 yrs) | +86.1% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 532's index has changed +70.6% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 532 after inflation | WI after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +1.9% | +1.7% | +2.3% | -0.8% |
| 3 years | +9.8% | +10.6% | +10.1% | +10.1% | +2.8% |
| 5 years | +24.0% | +23.9% | +24.1% | +22.5% | +13.9% |
| 10 years | +39.1% | +51.2% | +47.9% | +44.4% | +39.0% |
| Since Q1 1995 | +121% | +70.6% | +64.2% | +58.5% | +76.8% |
Estimate appreciation for a home in ZIP3 532
Regional estimate
$631,015
- Estimated gain
- $331,015
- Index change
- +110%
- Start index
- 179.62
- End index
- 377.81
ZIP3 532 (Milwaukee, WI area), Q2 2016 to Q2 2026. Index type: Native 3-Digit ZIP index.
Nearby 3-digit ZIP regions
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|---|
| 531 · Kenosha, WI area | WI | +6.6% | +52.2% | +248% |
| 534 · Racine, WI area | WI | +6.7% | +56.1% | +226% |
| 530 · Sheboygan, WI area | WI | +6.5% | +53.5% | +241% |
| 600 · Waukegan, IL area | IL | +5.6% | +49.5% | +168% |
| 602 · Evanston, IL area | IL | +11.4% | +45.3% | +260% |
| 535 · Janesville, WI area | WI | +5.2% | +50.9% | +256% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 377.81 |
| Q1 2026 | 366.18 |
| Q4 2025 | 359.30 |
| Q3 2025 | 358.56 |
| Q2 2025 | 356.95 |
| Q1 2025 | 346.27 |
| Q4 2024 | 336.13 |
| Q3 2024 | 338.78 |
| Q2 2024 | 332.83 |
| Q1 2024 | 320.00 |
| Q4 2023 | 312.43 |
| Q3 2023 | 316.89 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 532?
- Based on FHFA HPI® data for 3-digit ZIP region 532, the regional index changed +5.8% over the year to Q2 2026, +53.6% over five years, +110% over ten years, and +278% since Q1 1995.
- Is ZIP3 532 appreciating faster than Wisconsin and the U.S.?
- Over the past year the region's index +5.8% compares with +5.6% for Wisconsin and +3.0% for the U.S., a gap of +2.8 pts versus the nation. Over five years the gap versus the nation is +12.3 pts.
- Which ZIP codes are in 3-digit ZIP region 532?
- All ZIP codes that begin with 532. Census 2010 ZIP Code Tabulation Areas in this region run from 53202 to 53295 (30 areas). FHFA publishes one index for the whole 3-digit region, not for each 5-digit ZIP code.
- Can I use this to value my home?
- No. The FHFA HPI® is a broad regional index of average price movement. It is not an appraisal, tax assessment, or automated valuation of any individual property. Use it as general context alongside local sales and a professional opinion.