Waukesha County · Milwaukee-Waukesha · population 20,002
Where Oconomowoc stands
At or near all-time high. home values up 6.1% in the last year. population growing 2.4% per year.
Home value trajectory · last 10 years
Zillow ZHVI · monthlyLifestyle scores
Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.
Rent trajectory · last 5 years
Zillow ZORI · monthlyHome value vs rent · indexed to 100
Both rebased at first month of ZORI data (~2015)Rent vs buy
At a 25.5 price-to-rent ratio, renting beats buying in Oconomowoc for most shorter holds. The premium you pay to own would take many years of rent savings to recoup, and that's before maintenance, taxes, and opportunity cost on the down payment.
How the momentum score breaks down
methodology →Oconomowoc has been growing population at 2.4% per year while home values compounded +6.5% annually. Demand-driven appreciation — the kind that persists as long as people keep showing up, which they currently are.
Oconomowoc's bear case is the boring one: the cycle is real and any market that's run hard can stall. Watch for slowing population growth, rising days-on-market, or builder discounts as the early warning signals.
About Oconomowoc
Oconomowoc is a city in Waukesha County, Wisconsin, with an estimated population of 20,002. It anchors the Milwaukee-Waukesha metro area. The population has grown 2.4% per year on average between 2020 and 2024 — among the faster-growing communities in the state. The median home value in Oconomowoc is $543,954 as of 2026-04, up 6.1% over the last 12 months. Over the last five years, home values have averaged +6.5% annual growth, with prices at or near the 5-year peak. Rents in Oconomowoc average $1,775 per month, roughly flat year-over-year (+0.8%). The composite momentum score is 76 of 100 (Rising). The market is healthy with prices supported by underlying demand.
▲ Bull case
▼ Bear case
Playbook
You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.
Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.
Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.
Local safety & alerts
No active National Weather Service alerts for Waukesha County right now.
Public-safety links are official .gov sources, not curated by us. Waukesha County routes NWS alerts; check the state EM portal for non-weather emergencies.
Neighborhoods of Oconomowoc
1 tracked · ranked by median home valueCities like Oconomowoc
Run the numbers for Oconomowoc
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.
Climate & natural-disaster risk
State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.
Local sports teams
Major professional teams the Milwaukee-Waukesha area cheers for. Detailed stats, schedules, and player pages on intherafters.com.
Current weather
Find rentals & listings
Open current Oconomowoc listings on the major real-estate sites.
Links open the live search on the destination site — results are always current.
Local economy & environment
Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.
Cities similar to Oconomowoc
Explore other places with comparable momentum or affordability.