Real Estate Investing in Waukesha, Wisconsin (53188)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 53188 (Waukesha, WI)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Waukesha, WI (53188)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 53188 Waukesha
ZIP 53188 in Waukesha, WI carries a healthy set of headwinds. Home values near $437K and rents of $1,610/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $437K asset, 53188 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 53188 among WI's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
On the rental side, 34,290 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 53188 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Waukesha:
Property Strategy for 53188
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $184,987 | $1,350 | 5.3% | +8.8% | $184,987 |
| 2BR | $296,065 | $1,610 | 3.9% | +7.0% | $148,033 |
| 3BR | $380,817 | $1,980 | 3.7% | +7.2% | $126,939 |
| 4BR | $472,986 | $2,150 | 3.3% | +7.3% | $118,246 |
| 5BR | $507,337 | — | — | +6.7% | $101,467 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 53188 Compare?
| Metric | 53188 | Waukesha | Milwaukee-Waukesha, WI | Wisconsin |
|---|---|---|---|---|
| Home Value | $437,425 | $444,178 | N/A | $320,446 |
| 5-Year CAGR | 6.7% | 6.5% | N/A | 7.3% |
| Avg Rent | $1,610 | $1,574 | N/A | - |
| Cap Rate | 2.9% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 53188 (Waukesha, WI). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 53188 (Waukesha, WI)?
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Property managers serving Waukesha County
Manage rentals here? List your business →Home Path Property Management offers home rentals, build-to-rent options, and vacation rentals in the Milwaukee Area. summary from their website
MPC Property Management offers a wide range of property management services for residential, commercial, and association properties in Wisconsin. summary from their website
Diamond Property Management LLC appears to offer property management services based on the domain and name, though homepage content is technical. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $437,425 |
| Monthly Rent | $1,610 |
| Price-to-Rent | 22.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +8.1% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | +12.4% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 53188
Population: 34,290
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 53188
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,204 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors worry about vacancy in Waukesha, WI?
Waukesha, WI sees elevated vacancy, which is reasonable relative to the broader WI rental market.
Are homes affordable in Waukesha, WI?
Waukesha, WI median home values land near $437K. That is reasonable territory for investors looking at $1,610/mo-per-month rentals.
How does Waukesha, WI rate as a rental market?
Waukesha, WI rates 3.0/5 for investability. With median values at $437K and rents near $1,610/mo, the market offers reasonable fundamentals for rental investors.
Can I live-in-and-rent in Waukesha, WI?
The house hack math a challenging in Waukesha, WI. Owner-occupant buyers benefit from the $1,610/mo rents and $437K home values.
What is the best play in Waukesha, WI?
For Waukesha, WI, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 53188 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 53188 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 53188 ranks in Milwaukee-Waukesha, WI
Every ZIP in this metro, ranked. Free.
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