Cheap Homes in Milwaukee, WI

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Milwaukee, WI Foreclosures

How much do homes sell for in Milwaukee, WI?
The average home price is currently $200,058.
In Milwaukee, WI, how many homes are available?
There are currently 147,891 active home listings available in Milwaukee.
What’s the average rental cost in Milwaukee, WI?
The average rental price in Milwaukee is $1,875.
What is the most expensive home in Milwaukee, Wisconsin?
The most expensive home sold in Milwaukee had a price of $8,763,811.
What is currently the cheapest priced home in Milwaukee, WI?
The cheapest home for sale in Milwaukee is priced at $13,572.

Home Value Estimator For Milwaukee, WI

There are currently 147,891 real estate properties in Milwaukee, WI, with a median automated valuation model (AVM) price of $174,415.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Milwaukee, WI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Milwaukee, WI, is $200,058.00, with the most expensive house in Milwaukee, WI, topping out at $8,763,811.00 and the cheapest home in Milwaukee, WI, clocking in at $13,572.00. In other words, there’s something for every potential homebuyer or savvy investor in Milwaukee, WI!

Rent Prices In Milwaukee, WI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Milwaukee, WI, is on a rollercoaster ride. The average rent price in Milwaukee, WI, is $1,875.00. Indeed, when looking to rent in Milwaukee, WI, you can expect to pay as little as $660.00 or as much as $3,310.00, with the average rent median estimated to be $1,850.00. The good news is that finding an affordable and desirable property to rent in Milwaukee, WI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Milwaukee, WI In 2024

Milwaukee is located in Milwaukee, Wisconsin, with an estimated municipal population of 590,157 residents. All of the best foreclosed homes for sale in Milwaukee are located in the following zip code areas on 53203 53202 53207 53206 53205 53204 53209 53208 53233 53211 53218 53219 53214 53215 53216 53210 53212 53213 53295 53225 53224 53227 53226 53221 53220 53223 53222 53228 53201 53237 53259 53263 53274 53278 53288 53290 53293. The estimated population per square kilometer (.62 miles) in Milwaukee is 2,369.

Cost Of Living In Milwaukee, WI

So, about how much do homes cost in Milwaukee? The most recent median value of resident-owned homes in Milwaukee is 121,544. An estimated 41.4 percent of households in Milwaukee own their homes, with an average family size of 3.38. The median household income in Milwaukee is 41,838, with14.4 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Milwaukee, the median commute time of resident workers (in minutes) is 22.2. And last, but certainly not least, are you looking for homes to rent in Milwaukee? If so, the average rent price paid by renters in Milwaukee is 858, according to recent statistics.

Diversity And Demographics In Milwaukee, Wisconsin

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Milwaukee, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Milwaukee is 31.5, split between 48.1 percent male versus 51.9 female. The percentage of residents who report being married in Milwaukee is 30, with an average family size of 3.38.

The percentage of residents who report their race in Milwaukee is as follows:

White 44.4%
Black / African American 38.7%
Asian 4.3%
American Indian / Alaskan Native 0.6%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 4%
Other 8%

Looking for family-friendly neighborhoods in and/or near Milwaukee? Or maybe you are searching for 55+ active adult communities in and/or near Milwaukee?

The percentage of residents who report their age in Milwaukee is as follows:

Under 10 14.7%
Aged 10-19 14.6%
20s 18%
30s 14.5%
40s 11.3%
50s 11.4%
60s 8.9%
70s 4.1%
80+ 2.6%

Best Schools In Milwaukee, Wisconsin

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Milwaukee with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Milwaukee.

Pros And Cons Of Living In Milwaukee, Wisconsin

How do you know that living in -- or moving to -- Milwaukee is right where you need to be? Perhaps you grew up in Milwaukee or already live nearby; therefore, the decision to buy a home in Milwaukee is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Milwaukee for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Milwaukee:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Milwaukee.

Reasons To Move To Milwaukee, Wisconsin, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Milwaukee can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Milwaukee, meanwhile, can field multiple offers from more qualified buyers.

Cheap Homes in Milwaukee, WI


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