Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 6,329, 2,191 total housing units (homes and apartments), and a median house value of $539,915, Elm Grove real estate is some of the most expensive in Wisconsin, although Elm Grove home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Elm Grove, accounting for 78.89% of the village's housing units. Other types of housing that are prevalent in Elm Grove include large apartment complexes or high rise apartments ( 13.58%), duplexes, homes converted to apartments or other small apartment buildings ( 4.84%), and a few row houses and other attached homes ( 2.51%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elm Grove. Owner-occupied housing accounts for 86.50% of Elm Grove's homes, and 70.63% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Elm Grove's housing was primarily built during this period, from the '40s through the '60s. A full 58.48% of the village's housing hails from this era. Other housing ages represented in Elm Grove include homes built between 1970-1999 ( 23.53%) and housing constructed before 1939 ( 11.25%). There's also some housing in Elm Grove built between 2000 and later ( 6.75%).
Real estate appreciation rates in Elm Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.08% during the period.
Appreciation rates are so strong in Elm Grove that despite a nationwide downturn in the housing market, Elm Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elm Grove appreciation rates continue to be some of the highest in America, at 12.51%, which is higher than appreciation rates in 75.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elm Grove. Elm Grove appreciation rates in the latest quarter were at 1.32%, which equates to an annual appreciation rate of 5.38%.
Relative to Wisconsin, our data show that Elm Grove's latest annual appreciation rate is higher than 60% of the other cities and towns in Wisconsin.
$539,915
for Wisconsin
for nation
2,191
$2,038 / per month