Kenosha, WI Housing Market

Market Overview

Kenosha’s housing market earns a PropertyIQ Score of 83 out of 100, placing it in strong territory. The score is driven most by a median days on market of 31 days and a 14.1% share of listings with a price cut. Those metrics suggest homes are selling quickly and sellers are not facing widespread pressure to reduce prices. The median home value is $408,450, well above the Wisconsin state average of $343,798. The rent index is $1,175, above the state benchmark of $1,045. Unemployment matches the state at 3.3%, and median household income is $79,412, above the state median of $75,670.

Kenosha’s above-average home values are only partly matched by above-average incomes. The median home value is about 5.1 times the median household income, compared with about 4.5 times at the state level. That means local housing is elevated relative to local earnings. Still, with 347 homes for sale and a 31-day median days on market, the market is competitive. The 14.1% price-cut share reinforces limited discounting. Overall, Kenosha is a strong, seller-leaning market with above-average price and rent levels compared with Wisconsin.

Key Trends

One trend is a clear price premium with little year-over-year movement. The median home value of $408,450 is well above the state average of $343,798, but the provided year-over-year home value change is $10. That points to stable nominal prices rather than rapid appreciation.

Another trend is quick turnover and limited price cutting. Median days on market is 31 days, and 14.1% of listings have a price cut. State benchmarks for these two metrics are not provided, but the PropertyIQ score identifies them as top positive drivers. With 347 homes for sale, supply appears moderate and demand steady enough to keep time on market short.

A third trend is above-average rental pricing. The rent index of $1,175 is $130 above the state average of $1,045, indicating rental costs are higher than the Wisconsin benchmark. That may support rental property demand.

A fourth trend is mixed affordability. Unemployment is 3.3%, equal to the state rate, and median household income is $79,412 versus $75,670 statewide. Those are stable indicators, but the income advantage is smaller than the home value gap. Population growth data is not available, so migration-driven demand cannot be assessed.

Who Is This Market For

Kenosha appears best suited to investors, move-up buyers, and sellers. Investors may be drawn by the rent index of $1,175, above the state average of $1,045, and by the 31-day median days on market, which suggests efficient tenant turnover. Move-up buyers with existing equity may be better able to handle the $408,450 median home value, especially since local income of $79,412 is only modestly above the state median of $75,670.

First-time buyers may face a tougher path. The median home value is about 5.1 times local median household income, compared with about 4.5 times statewide. That higher ratio suggests saving for a down payment or qualifying for a mortgage may be more challenging. Still, the 3.3% unemployment rate signals a stable employment base for credit-qualified buyers.

Sellers are in a favorable position. The 31-day median days on market and the 14.1% price-cut share suggest that well-priced homes are moving without broad discounting.

Outlook

The near-term outlook is stable and competitive. The median days on market of 31 days, the 14.1% price-cut share, and 347 homes for sale point to steady demand and a seller-friendly pace. The year-over-year home value change of $10 supports flat price movement rather than sharp gains. Unemployment matches the state average at 3.3%, and the rent index of $1,175 remains above the state benchmark of $1,045, which should continue to support rental and ownership demand. Because population growth data is not available, the outlook cannot factor in demographic-driven demand changes. Overall, the numbers indicate a stable, competitive market with above-average local price and rent levels relative to Wisconsin.