City · 19,080 residents · Waukesha County, Wisconsin
Oconomowoc, Wisconsin
In Oconomowoc, a typical home is worth $394,500 and typical rent is $1,301 a month. Compared with all of Waukesha County, the share of households that own their home is 7 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $415,594 to $550,242.
Typical rent
$1,891a month
▲ 4.5% more than 12 months ago
Typical rent from Zillow, December 2024 to September 2026: from $1,787 to $1,891.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Oconomowoc is in Waukesha County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Waukesha County. See the county
What this place has that others do not, from public data, most unusual first.
1
Oconomowoc has the 6th largest share of rent-burdened renters of the 141 cities in Wisconsin with more than 5,000 people (57%).
2
69% of households in Oconomowoc own their home, against 76% in Waukesha County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Oconomowoc
What homes there are in Oconomowoc, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Oconomowoc
Waukesha County
Wisconsin
United States
Kind of home: Oconomowoc and its comparisons
Measure
Oconomowoc
Waukesha County
Wisconsin
United States
Detached house
64%
69%
66%
61%
Attached house
5%
6%
4%
6%
Building of 2 to 4
5%
5%
9%
8%
Apartments (5 or more)
26%
19%
17%
19%
Mobile home
Unreliable estimate
1%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Oconomowoc, 6 in 10 homes are single-family detached houses; in Waukesha County, 7.
Year built
Before 19601960–19791980–19992000–20092010 or later
Oconomowoc
Waukesha County
Wisconsin
United States
Year built: Oconomowoc and its comparisons
Measure
Oconomowoc
Waukesha County
Wisconsin
United States
Before 1960
23%
20%
33%
26%
1960–1979
26%
29%
24%
24%
1980–1999
15%
30%
22%
25%
2000–2009
16%
12%
13%
14%
2010 or later
20%
10%
9%
11%
The typical year built in Oconomowoc is 1982, about the same as in Waukesha County (1981).
There are fewer big homes in Oconomowoc than in Waukesha County: 65% have 3 bedrooms or more, against 69%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200KUnreliable
$200K–$300K17%
$300K–$500K50%
$500K–$750K23%
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Oconomowoc and its comparisons
Measure
Oconomowoc
Under $100K
Unreliable estimate
$100K–$200K
Unreliable estimate
$200K–$300K
17%
$300K–$500K
50%
$500K–$750K
23%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99916%
$1,000–$1,49952%
$1,500–$1,99915%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Oconomowoc and its comparisons
Measure
Oconomowoc
Under $500
Unreliable estimate
$500–$999
16%
$1,000–$1,499
52%
$1,500–$1,999
15%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
With a mortgage
$2,193 a month
Waukesha County: $2,144 a month
Without a mortgage
$705 a month
Waukesha County: $781 a month
Owners with a mortgage
74%
Waukesha County: 65%
Owning costs about the same in Oconomowoc as in Waukesha County: with a mortgage, $2,193 a month; without one, $705.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Oconomowoc+52%
Waukesha County+41%
Wisconsin+48%
United States+53%
Typical rent
Oconomowoc+34%
Waukesha County+30%
Wisconsin+27%
United States+33%
Typical household income
Oconomowoc+20%
Waukesha County+22%
Wisconsin+26%
United States+29%
Change since 2015–2019: Oconomowoc and its comparisons
Measure
Oconomowoc
Waukesha County
Wisconsin
United States
Typical home value
+52%
+41%
+48%
+53%
Typical rent
+34%
+30%
+27%
+33%
Typical household income
+20%
+22%
+26%
+29%
Since 2015–2019, homes in Oconomowoc gained value faster than in Waukesha County: 52% against 41%.
The typical rent in Oconomowoc rose 34% over the same time; in Waukesha County, it rose 30%.
Housing prices ran ahead of income in Oconomowoc: typical income rose 20%, against +52% for home values and +34% for rent.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Oconomowoc and its comparisons
Measure
Oconomowoc
Waukesha County
Wisconsin
United States
Rental vacancy
Unreliable estimate
4.0%
4.5%
5.5%
Homeowner vacancy
Unreliable estimate
0.3%
0.5%
0.9%
More than one person per room
Unreliable estimate
0.9%
1.7%
3.4%
People per household
2.40
2.42
2.33
2.53
Drive alone
75%
76%
74%
69%
Carpool
5%
5%
7%
9%
Public transit
Unreliable estimate
0%
1%
3%
Walk or bike
1%
1%
3%
3%
Work from home
18%
17%
13%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
10 to 19 minutes
20 to 29 minutes
A household in Oconomowoc has 2.40 people on average, about the same as in Waukesha County (2.42).
To get to work, 75% of workers in Oconomowoc drive alone; in Waukesha County, 76%.
Do the math
What would you pay each month for a home in Oconomowoc?
A typical home costs more than the typical income allows
We start with a typical home in Oconomowoc, worth $394,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 38% of the typical household income in Oconomowoc, which is $106,425 a year. For that payment to be 28% of income, a household would need to earn about $143,890 a year.
The calculator's FHA and conventional loan limits are those of all of Waukesha County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Oconomowoc. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $13,808 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$3,357
at 7.18% · 30 years
Loan amount
$387,354
Total interest
$557,312
Paid off in
November 2056
Includes $6,662 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,483 a month
Tight
$2,483 to $3,193 a month
Hard
more than $3,193 a month
Your payment · 38%
Compared with the typical household income in Oconomowoc ($106,425 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,624
Property tax
$395
Home insurance
$164
FHA mortgage insurance (MIP)
$174
You need at least $13,808 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $3,357; principal and interest $2,624.
The city and its county
Oconomowoc and Waukesha County
Oconomowoc is in Waukesha County, Wisconsin. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Map of Waukesha County, Wisconsin, with Oconomowoc marked. Around it, the neighboring counties.
Waukesha County
Oconomowoc's own numbers
Typical home value
$394,500
Typical monthly rent
$1,301
Typical yearly household income
$106,425
Households that own their home
69%
Effective property tax rate
1.2%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Waukesha County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,263
Price change over 5 years (FHFA)
+52%
Homes in a high flood-risk zone
0.3%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Waukesha County.
A typical home in Oconomowoc is worth $394,500: about the same as the county and 48% above Wisconsin. With the typical household income in Oconomowoc ($106,425 a year), a typical home costs 3.7 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Oconomowoc3.7 years
Waukesha3.8 years
Wisconsin3.4 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Waukesha County
According to FHFA’s house price index, home prices in Waukesha County rose 85% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Waukesha County.
Yearly change in FHFA’s price index in Waukesha County, 2016 to 2025
2016: +3.7% +3.7% 2016
2017: +4.8% +4.8% 2017
2018: +5.0% +5.0% 2018
2019: +4.3% +4.3% 2019
2020: +2.1% +2.1% 2020
2021: +8.7% +8.7% 2021
2022: +13.7% +13.7% 2022
2023: +10.2% +10.2% 2023
2024: +6.1% +6.1% 2024
2025: +5.4% +5.4% 2025
Change in FHFA’s price index in Waukesha County, Wisconsin and the United States
Period
County
Wisconsin
U.S.
Last year (2025)
+5.4%
+5.4%
+2.9%
5 years (2020–2025)
+52%
+57%
+47%
10 years (2015–2025)
+85%
+96%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Oconomowoc next to Waukesha County, Wisconsin and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Oconomowoc$394,500
Waukesha$398,200
Wisconsin$266,500
United States$332,700
Typical monthly rent
Oconomowoc$1,301
Waukesha$1,356
Wisconsin$1,087
United States$1,413
Typical yearly household income
Oconomowoc$106,425
Waukesha$106,076
Wisconsin$77,485
United States$80,734
See the full table
Oconomowoc next to Waukesha County and Wisconsin
Measure
Oconomowoc
Waukesha County
Wisconsin
U.S.
Typical home value
$394,500
$398,200
$266,500
$332,700
Typical monthly rent
$1,301 ▼4% below the county
$1,356
$1,087
$1,413
Typical yearly household income
$106,425
$106,076
$77,485
$80,734
Households that own their home
69% ▼7 points below the county
76%
68%
65%
Typical yearly property tax
$4,722 ▲4% above the county
$4,554
$3,792
$3,119
Effective property tax rate
1.2% ▲0.06 points above the county
1.14%
1.42%
0.94%
Renters with high rent for their income
57% ▲12 points above the county
45%
44%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Waukesha County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Oconomowoc
For a typical $394,500 home in Oconomowoc, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Oconomowoc's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$3,357a month
Least cash to close
Down payment
$13,808
Cash to close
$25,643
Rate
7.18%
Mortgage insurance
FHA MIP · $174
Conventional, 5% down$3,285a month
Down payment
$19,725
Cash to close
$31,560
Rate
7.18%
Mortgage insurance
PMI · $187
Conventional, 20% down, no PMI$2,697a month
Down payment
$78,900
Cash to close
$90,735
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$3,062a month
Down payment
$59,175
Cash to close
$71,010
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Oconomowoc
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$3,357
$13,808
$387,355
7.18%
FHA MIP · $174
$25,643
580
Conventional, 5% down
$3,285
$19,725
$374,775
7.18%
PMI · $187
$31,560
620*
Conventional, 20% down, no PMI
$2,697
$78,900
$315,600
7.18%
None
$90,735
620*
ITIN, 15% down (example)
$3,062
$59,175
$335,325
8.18%
None
$71,010
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Oconomowoc is $1,301 a month: 4% below the county. In Oconomowoc, 57% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Waukesha County, by unit size. To pay the 2-bedroom one ($1,263 a month) without spending more than 30% of your income, you would need to earn $24.29 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Waukesha County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$985
$18.94
$39,400
1 bedroom
$1,060
$20.38
$42,400
2 bedrooms
$1,263
$24.29
$50,520
3 bedrooms
$1,553
$29.87
$62,120
4 bedrooms
$1,664
$32.00
$66,560
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Oconomowoc
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Oconomowoc is in ZIP code 53066.
For 2 bedrooms it is $1,410: $147 more than the fair market rent for Waukesha County ($1,263).
Fair market rent by ZIP code and size in Oconomowoc, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
53066
$1,090
$1,180
$1,410
$1,750
$1,860
ZIP code2 bd3 bd
53066 $1,410$1,750
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Oconomowoc when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 2 HUD-approved agencies with an office in Waukesha County; 1 says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Oconomowoc or Waukesha County. The ones below are statewide in Wisconsin: they work in Oconomowoc the same as in the rest of the state.
Wisconsin state agency second mortgage for the down payment: up to 6% of the price, over 10 years with a monthly payment and the same rate as the WHEDA first mortgage.Offered by Wisconsin Housing and Economic Development Authority (WHEDA).
$7,500 loan from the Wisconsin state agency for the down payment and closing costs, over 30 years, at 0% and with no monthly payments, alongside a WHEDA mortgage; limited funds, first come, first served.Offered by Wisconsin Housing and Economic Development Authority (WHEDA).
No legal help resource on our list is for Oconomowoc or Waukesha County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Oconomowoc and all of Waukesha County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Oconomowoc?
The typical home value in Oconomowoc is $394,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Waukesha County it is $398,200.
How much does it cost to rent in Oconomowoc?
Typical rent in Oconomowoc is $1,301 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Waukesha County is $1,263.
What is the FHA loan limit in Oconomowoc?
Oconomowoc uses the FHA limit for all of Waukesha County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Oconomowoc?
The typical homeowner in Oconomowoc pays $4,722 a year, according to the U.S. Census Bureau. That is 1.2% of the home’s value; in Waukesha County, the rate is 1.14%.
Where can I find free help to buy or rent in Oconomowoc?
There are 2 HUD-approved counseling agencies with an office in Waukesha County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.
