How much is a home worth in ZIP code 53233?

The typical home in 53233 is worth $185,253, based on the Zillow Home Value Index.

Are home values rising in 53233?

Home values in 53233 are down 3.0% over the past year, and up 6.1% a year over five years.

What is the typical rent in 53233?

A typical home in 53233 rents for about $1,227 a month, a gross rental yield of 7.9%.

What is the property tax rate in 53233?

The effective property tax rate in 53233 is 1.2% — roughly $2,213 a year on a typical home.

ZIP code 53233 has a population of 14,497 and a median household income of $23,750.

HousingHandbookReference data

…

U.S. ZIP Code · WI53233

Milwaukee County · Milwaukee-Waukesha, WI

Typical home value

$185,253^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -3.0%
5-year / yr: +6.1%
10-year / yr: +10.3%

Relative price

vs U.S.: -34.8%
vs metro: -55.0%
vs state: -39.3%

Price history

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

The typical home in 53233 is worth $185,253 — 55.0% below the Milwaukee-Waukesha, WI median. Over the past year, values have fallen 3.0%. Homes here rent for a typical $1,227 a month — a 7.9% gross rental yield. The effective property tax rate is 1.2%.

#Rent & investment

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

Monthly rent: $1,227^[2]
Gross yield: 7.9%^[2]
Cap rate: 4.8%^[2]

#Property tax

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

Effective tax rate: 1.2%^[3]
Typical annual tax: $2,213^[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: 14,497^[3]
Median household income: $23,750^[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: 2
Middle: 0
High: 3

Milwaukee Academy of Science
Other · Grades PK–12 · Milwaukee Science Education Consortium Inc
1,404 students
Milwaukee High School of the Arts
High · Grades 9–12 · Milwaukee School District
985 students
Milwaukee Academy of Chinese Language
Elementary · Grades PK–8 · Milwaukee School District
491 students
Wisconsin Conservatory of Lifelong Learning
Other · Grades PK–12 · Milwaukee School District
431 students
Highland Community School
Elementary · Grades PK–8 · Milwaukee School District
414 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 yield7.9%

Net yield (after ~40% expenses)4.8%

Annual rent$14,727

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$937

Loan principal$148,203

Down payment$37,051

Total interest paid$189,024

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 ratio1.04

Monthly cost to own$1,275

Monthly rent$1,227

Owning and renting are roughly even.

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: 46th percentile^[1]
Rental yield: 88th percentile^[2]
Property tax: 45th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 53233?: The typical home in 53233 is worth $185,253, based on the Zillow Home Value Index.
Are home values rising in 53233?: Home values in 53233 are down 3.0% over the past year, and up 6.1% a year over five years.
What is the typical rent in 53233?: A typical home in 53233 rents for about $1,227 a month, a gross rental yield of 7.9%.
What is the property tax rate in 53233?: The effective property tax rate in 53233 is 1.2% — roughly $2,213 a year on a typical home.
Who lives in 53233?: ZIP code 53233 has a population of 14,497 and a median household income of $23,750.

#Comparable ZIPs

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

53216 vs 53233 →
Milwaukee, WI
Typical home
$177,110
Gross yield
7.8%
53210 vs 53233 →
Milwaukee, WI
Typical home
$170,562
Gross yield
8.7%
53209
Milwaukee, WI
Typical home
$167,509
Gross yield
9.6%
53204
Milwaukee, WI
Typical home
$167,472
Gross yield
10.1%
53218
Milwaukee, WI
Typical home
$167,300
Gross yield
9.6%
53205
Milwaukee, WI
Typical home
$159,247
Gross yield
12.2%

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Pit ZIP 53233 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WI53233

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