Wisconsin Housing Becoming Less Affordable

MADISON, Wis. (CIVIC MEDIA) – A new report shows housing is getting less and less affordable in Wisconsin. 

According to the Wisconsin Association of Realtors, median home prices rose 8.8% in 2024. The median home value is now $310,000 statewide. 

Those increasing values, higher mortgage rates, and frozen incomes make housing less affordable for the average Wisconsinite. Affordability dropped by 10% last year, according to the report. 

“The Midwest fortunately has higher affordability than all other regions of the country. This is primarily due to the Midwest’s lower housing prices,” said Tom Larson, president and CEO of the Wisconsin Realtors Association. According to data from Redfin, homes in the Midwest are rising in price faster than any other region. 

Overall, home sales rose 4.7% in Wisconsin last year.

Redfin data shows Milwaukee has the third-most growth in home prices.