How much is a home worth in ZIP code 53224?

The typical home in 53224 is worth $240,315, based on the Zillow Home Value Index.

Are home values rising in 53224?

Home values in 53224 are up 3.7% over the past year, and up 7.4% a year over five years.

What is the typical rent in 53224?

A typical home in 53224 rents for about $1,427 a month, a gross rental yield of 7.1%.

What is the property tax rate in 53224?

The effective property tax rate in 53224 is 2.0% — roughly $4,810 a year on a typical home.

ZIP code 53224 has a population of 21,223 and a median household income of $67,803.

HousingHandbookReference data

…

U.S. ZIP Code · WI53224

Milwaukee County · Milwaukee-Waukesha, WI

Typical home value

$240,315^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.7%
5-year / yr: +7.4%
10-year / yr: +8.8%

Relative price

vs U.S.: -15.4%
vs metro: -41.6%
vs state: -21.2%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 53224 is worth $240,315 — 41.6% below the Milwaukee-Waukesha, WI median. Over the past year, values have risen 3.7%. Homes here rent for a typical $1,427 a month — a 7.1% gross rental yield. The effective property tax rate is 2.0%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,427^[2]
Gross yield: 7.1%^[2]
Cap rate: 4.3%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 2.0%^[3]
Typical annual tax: $4,810^[3]

#Climate risk

FEMA National Risk Index ratings for Milwaukee County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Very Low
Wildfire: Very Low
Drought: Very Low
Heat wave: Relatively High
Hurricane: Very Low
Tornado: Very High
Earthquake: Relatively Low
Winter weather: Very High

#Who lives here

Population: 21,223^[3]
Median household income: $67,803^[3]

#Migration

Household moves in and out of Milwaukee County over a year, from IRS tax-return data.

Net migration: -1,911^[5]
Moved in: 18,351
Moved out: 20,262

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 5
Middle: 0
High: 2

Harold S Vincent School of Agricultural Science
High · Grades 9–12 · Milwaukee School District
708 students
Stuart Elementary
Elementary · Grades PK–5 · Milwaukee School District
295 students
Goodrich Elementary
Elementary · Grades PK–5 · Milwaukee School District
288 students
Bruce Elementary
Elementary · Grades PK–5 · Milwaukee School District
286 students
Maple Tree Elementary
Elementary · Grades PK–5 · Milwaukee School District
264 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield7.1%

Net yield (after ~40% expenses)4.3%

Annual rent$17,118

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,215

Loan principal$192,252

Down payment$48,063

Total interest paid$245,207

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.27

Monthly cost to own$1,816

Monthly rent$1,427

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 95th percentile^[1]
Rental yield: 79th percentile^[2]
Property tax: 97th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 53224?: The typical home in 53224 is worth $240,315, based on the Zillow Home Value Index.
Are home values rising in 53224?: Home values in 53224 are up 3.7% over the past year, and up 7.4% a year over five years.
What is the typical rent in 53224?: A typical home in 53224 rents for about $1,427 a month, a gross rental yield of 7.1%.
What is the property tax rate in 53224?: The effective property tax rate in 53224 is 2.0% — roughly $4,810 a year on a typical home.
Who lives in 53224?: ZIP code 53224 has a population of 21,223 and a median household income of $67,803.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

53225 vs 53224 →
Milwaukee, WI
Typical home
$238,163
Gross yield
6.2%
53208 vs 53224 →
Milwaukee, WI
Typical home
$236,227
Gross yield
6.2%
53223
Milwaukee, WI
Typical home
$231,153
Gross yield
7.8%
53215
Milwaukee, WI
Typical home
$222,456
Gross yield
5.3%
53212
Milwaukee, WI
Typical home
$221,007
Gross yield
7.0%
53214
West Allis, WI
Typical home
$259,740
Gross yield
7.0%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 53224 against any other ZIP — full side-by-side table.

Compare 53224 →

#Jump to section

U.S. ZIP Code · WI53224

Get more data on ZIPs like this

Get more data on ZIPs like this