Real Estate Investing in Waukesha, Wisconsin (53189)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 53189 (Waukesha, WI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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 (53189)?
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Market Analysis: 53189 Waukesha
ZIP 53189 inside Waukesha County looks affordable on the surface — median value of $520K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 53189 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
On the rental side, 53189 offers a low basis, the region around Waukesha has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A notable renter share of 18% in 53189 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 53189 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Waukesha:
Property Strategy for 53189
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $333,056 | $1,460 | 3.2% | +6.5% | $166,528 |
| 3BR | $440,273 | $1,800 | 2.9% | +7.1% | $146,758 |
| 4BR | $536,223 | $1,950 | 2.6% | +7.2% | $134,056 |
| 5BR | $595,476 | — | — | +7.3% | $119,095 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 53189 Compare?
| Metric | 53189 | Waukesha | Milwaukee-Waukesha, WI | Wisconsin |
|---|---|---|---|---|
| Home Value | $519,713 | $444,178 | N/A | $320,446 |
| 5-Year CAGR | 6.3% | 6.5% | N/A | 7.3% |
| Avg Rent | $1,770 | $1,574 | N/A | - |
| Cap Rate | 2.7% | 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 53189 (Waukesha, WI). Anonymous, moderated, never written by AI.
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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 | $519,713 |
| Monthly Rent | $1,770 |
| Price-to-Rent | 24.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 53189
Population: 26,607
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 53189
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
What price range are homes in Waukesha, WI?
Median home price in Waukesha, WI is near $520K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
How strong is the working-renter base in Waukesha, WI?
Tenant demand in Waukesha, WI is solid. The local workforce $1,770/mo rents across most rental classes.
How tight is the rental market in Waukesha, WI?
Vacancy risk in Waukesha, WI is elevated. That supports stable cash flow for typical rental holds.
Are landlord laws favorable in Waukesha, WI?
Waukesha, WI operates under WI law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
What does house hacking look like in Waukesha, WI?
The a challenging house-hack environment in Waukesha, WI reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
You know 53189 now. You don’t know where it ranks.
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How 53189 ranks in Milwaukee-Waukesha, WI
Every ZIP in this metro, ranked. Free.
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