Kenosha, WI Housing Market

Market Overview

Kenosha, WI presents as a strong housing market, supported by a PropertyIQ Score of 82 out of 100. The top score drivers are a median days on market of 33 days and a share of listings with a price cut of 17.3%, indicating homes sell at a steady pace without widespread discounting. The median home value of $399,900 sits $60,201 above the Wisconsin state average of $339,699, and the rent index of $1,219 is $132 above the state average of $1,087. Median household income is $81,239, $3,754 above the state average of $77,485, while the unemployment rate matches the state at 3.3%.

These metrics point to a market with solid local economic support and above-state pricing. The 33-day median days on market and 17.3% price-cut share explain the strong score: fewer than one in five listings has had a price reduction, and the typical home spends just over a month on market. The provided home value year-over-year change is $8, which suggests essentially flat nominal price movement over the year, even as home values and rents remain above state benchmarks.

Key Trends

One trend is the affordability gap between Kenosha and the rest of Wisconsin. The median home value is $399,900, compared with $339,699 statewide, while median household income is only $3,754 higher than the state average. This means local home prices are elevated relative to incomes more than the state average. The year-over-year home value change of $8 also points to flat price appreciation rather than rapid growth.

A second trend is healthy sales velocity and limited seller discounting. With 357 homes for sale, a median days on market of 33 days, and a 17.3% share of listings with a price cut, the market is absorbing inventory without heavy reductions. This supports the 82/100 PropertyIQ Score and suggests demand is consistent.

A third trend is stronger rent performance. Kenosha’s rent index of $1,219 is $132 above the state average of $1,087. This above-state rent level signals demand for rental housing and may support investor interest, especially when combined with a local unemployment rate of 3.3%.

Who Is This Market For

Kenosha is best suited for move-up buyers and middle-to-upper income households who can comfortably manage a median home value of $399,900. With median household income of $81,239 and low unemployment at 3.3%, local buyers have a stronger income base than the state average, but first-time buyers may still find entry more expensive than elsewhere in Wisconsin because home values are $60,201 above the state average.

The market also fits buy-and-hold investors. The rent index of $1,219 exceeds the state average by $132, suggesting local rents can support rental property cash flow. However, the year-over-year home value change of $8 implies flat appreciation, so investor returns would likely depend more on rent than price growth. A price-cut share of 17.3% also gives buyers some room to negotiate, though the 33-day median days on market means well-priced homes still move quickly.

Outlook

The data support a stable outlook rather than a speculative one. With a median days on market of 33 days and only 17.3% of listings cutting price, buyer demand appears steady enough to absorb the 357 homes for sale without widespread discounting. The unemployment rate of 3.3% and median household income of $81,239 provide economic support, while the rent index of $1,219 remains above the state average.

At the same time, the home value year-over-year change of $8 indicates flat pricing, so the metrics do not point to rapid appreciation. The main constraint is affordability: Kenosha’s median home value is $60,201 above the state average while income is only $3,754 above the state average. Population growth data is not available, so the outlook cannot account for demographic or migration trends. Based on the provided numbers, the market is likely to continue with steady sales and stable values.