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 6,524, 2,272 total housing units (homes and apartments), and a median house value of $507,196, Elm Grove house prices are not only among the most expensive in Wisconsin, Elm Grove real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Elm Grove, accounting for 81.59% of the village's housing units. Other types of housing that are prevalent in Elm Grove include large apartment complexes or high rise apartments ( 12.37%), duplexes, homes converted to apartments or other small apartment buildings ( 4.99%), and a few row houses and other attached homes ( 1.05%).
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 86.51% of Elm Grove's homes, and 69.06% 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 59.87% of the village's housing hails from this era. Other housing ages represented in Elm Grove include homes built between 1970-1999 ( 20.55%) and housing constructed before 1939 ( 13.00%). There's also some housing in Elm Grove built between 2000 and later ( 6.58%).
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 5.07% during the period.
NeighborhoodScout's data show that during the latest twelve months, Elm Grove's appreciation rate, at 3.63%, has been at or slightly above the national average. In the latest quarter, Elm Grove's appreciation rate has been 4.14%, which annualizes to a rate of 17.59%.
Importantly, this makes Elm Grove one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to Wisconsin, our data show that Elm Grove's latest annual appreciation rate is lower than 60% of the other cities and towns in Wisconsin.
$2,165 / per month