Sheboygan, WI Housing Market

Market Overview

Sheboygan’s housing market reads as strong, with a PropertyIQ Score of 96 out of 100. The score is supported by four reported drivers: 12-month home value momentum of 11.06%, 3-month home value momentum of 0.86%, median days on market of 35 days, and a 12.7% share of listings with a price cut. Against state benchmarks, Sheboygan’s median home value of $330,019 sits below the state average of $343,798, while its rent index of $1,147 is above the state average of $1,045. The unemployment rate of 2.4% is also well below the state average of 3.3%, signaling a tight labor market.

The combination of below-state home values and above-state rents gives Sheboygan a somewhat split identity: entry prices for buyers are lower than the statewide norm, but rental demand appears stronger relative to the state. Median household income is $71,898, compared with $75,670 statewide, so buying power is slightly below the state average even though home prices are also lower. Population growth is reported as N/A, so no conclusions can be drawn about demographic-driven demand from the available data.

Key Trends

The first clear trend is sustained home value momentum. The 12-month momentum figure of 11.06% points to meaningful appreciation over the past year, while the 3-month figure of 0.86% suggests a more moderate near-term pace. The home value year-over-year metric is listed as $6, while the 12-month momentum metric of 11.06% provides additional price movement context.

A second trend is competitive market speed. With a median days on market of 35 days and only 12.7% of listings reporting a price cut, homes appear to be selling quickly and sellers are not broadly discounting. The reported 288 homes for sale combined with that pace suggests inventory is being absorbed steadily.

A third trend is rental market strength. Sheboygan’s rent index of $1,147 is about $102 above the state average of $1,045. That gap, alongside a very low unemployment rate of 2.4%, indicates a solid local employment base and consistent rental demand. For investors, above-state rent levels can support cash flow assumptions, especially relative to a median home value that is below the state average.

A fourth trend relates to affordability. Sheboygan’s median home value is about $13,800 below the state average, but median household income is about $3,800 below the state average. This means the local price-to-income relationship is broadly in line with the state, not dramatically more affordable. The lower unemployment and higher rent index, however, may offset some affordability pressure for renters and landlords.

Who Is This Market For

This market is well suited to buyers and investors who value momentum and relative balance. First-time buyers may find Sheboygan accessible because the median home value of $330,019 is below the state average of $343,798, though the median household income of $71,898 is also below the state average, so affordability is comparable rather than dramatically better. The fast median days on market of 35 days and low price cut share of 12.7% mean buyers should expect competition and limited negotiation room.

Investors are a strong fit for Sheboygan based on the rent index of $1,147, which exceeds the state average of $1,045, and the unemployment rate of 2.4%, which supports tenant stability. The 12-month home value momentum of 11.06% also offers an appreciation component. Move-up buyers may benefit from home value momentum building equity in existing homes. The missing population growth figure is a limitation for investors who rely on population-driven rental demand projections.

Outlook

The current numbers support a continued strong near-term environment. The 12-month home value momentum of 11.06%, median days on market of 35 days, and 12.7% price cut share all point to a market where demand is absorbing inventory efficiently. The 3-month momentum of 0.86% is more modest than the 12-month reading, so the pace of price growth may be cooling relative to the prior year, but it is not negative. With 288 homes for sale and a low unemployment rate of 2.4%, the underlying economic conditions remain supportive. The main data gap is population growth, which is reported as N/A, so longer-term demand cannot be assessed from this dataset. Overall, the outlook is positive based on the available metrics, with the 3-month momentum reading as the main reason to watch for any shift in pace.