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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Elm Grove, WI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Elm Grove, WI Housing Market Trends

With 6,329 people, 2,191 houses or apartments, and a median cost of homes of $519,230, Elm Grove real estate is some of the most expensive in Wisconsin, although Elm Grove home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Elm Grove, accounting for 78.89% of the village's housing units. Other types of housing that are prevalent in Elm Grove include large apartment complexes or high rise apartments ( 13.58%), duplexes, homes converted to apartments or other small apartment buildings ( 4.84%), and a few row houses and other attached homes ( 2.51%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elm Grove. Owner-occupied housing accounts for 86.50% of Elm Grove's homes, and 70.63% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Elm Grove's housing was primarily built during this period, from the '40s through the '60s. A full 58.48% of the village's housing hails from this era. Other housing ages represented in Elm Grove include homes built between 1970-1999 ( 23.53%) and housing constructed before 1939 ( 11.25%). There's also some housing in Elm Grove built between 2000 and later ( 6.75%).

Elm Grove Home Appreciation Rates

Real estate appreciation rates in Elm Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.60% during the period.

Appreciation rates are so strong in Elm Grove that despite a nationwide downturn in the housing market, Elm Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elm Grove appreciation rates continue to be some of the highest in America, at 8.05%, which is higher than appreciation rates in 87.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elm Grove. Elm Grove appreciation rates in the latest quarter were at 0.76%, which equates to an annual appreciation rate of 3.06%.

Relative to Wisconsin, our data show that Elm Grove's latest annual appreciation rate is higher than 70% of the other cities and towns in Wisconsin.

Average Home Values

Median Home Value

$519,230

Elm Grove, WI Home Prices
> $1,225,000
$918,001 - $1,225,000
$613,001 - $918,000
$490,001 - $613,000
$367,001 - $490,000
$245,001 - $367,000
$122,001 - $245,000
$61,001 - $122,000
$0 - $61,000
2.9%
2.9%
9.5%
9.5%
23.7%
23.7%
20.0%
20.0%
26.3%
26.3%
12.0%
12.0%
4.9%
4.9%
0.0%
0.0%
0.6%
0.6%
0% 100.0%
% of Homes
Very High

for Wisconsin

Very High

for nation

Number of Homes And Apartments:

2,191

Elm Grove Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,009 / per month

Homeownership Rate

Owners
Renters
86.5%
86.5%
13.5%
13.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.2%
5.2%
94.8%
94.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.7%
6.7%
23.5%
23.5%
58.5%
58.5%
11.2%
11.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
78.9%
78.9%
2.5%
2.5%
4.8%
4.8%
13.6%
13.6%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
0.0%
0.0%
22.4%
22.4%
33.3%
33.3%
37.3%
37.3%
7.0%
7.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Elm Grove

Zip Codes in Elm Grove, WI