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Milwaukee city, WI

ZIP 53224 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 53224

Median Home Value
$194,600
Median Rent
$938
Affordability Snapshot
$54,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,250/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.8x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

17.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 53224 in Milwaukee city, WI, a household would need roughly $54,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,250. That sits below the local median household income ($69,727), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
51.3%-22% vs US avg
x
Vacancy Rate
8.5%-17% vs US avg
x
Broadband Access
90.1%+4% vs US avg
x
4+ Bedrooms
1.1%-92% vs US avg
x
Built Pre-1939
3.6%-71% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
26.8%-46% vs US avg
x
Mortgage-Free
23.6%-38% vs US avg
x
$194,600
Home Value
$938
Rent
1975
Year Built
2015
Moved In

Residents have lived here since ~2015 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached43.4%
  • 1-unit attached14.1%
  • 2-9 units27.1%
  • 10+ units15.2%
  • Mobile home & other0.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$194,600
Median rent$938
Owner-occupied51.3%
Vacant8.5%
Price-to-income2.8x
Est. income to buy$54,000