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City Report · WI

Elm Grove

Pop. 6,459·1st most expensive in Wisconsin·One of the pricier rental markets in the US
Median rent (all units)
$3,738/mo
Year-over-Year
Stable
Month-over-Month
+13.9%
vs US Median
+$1,776
Rising (Monthly)
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Most AffordableMost Expensive
Elm Grove · $3,738
More expensive than 97% of US cities · National median $1,962/mo
Affordability
28% of income
AFFORDABLE
0%30% benchmark60%+

At $3,738/mo, rent takes about 28% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$150,000/yr
Local median income
$158,016/yr
Based on the 30%-of-income rule using Elm Grove's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,210
1 BR
$1,360
2 BR
$1,620
3 BR
$2,010
4 BR+
$2,190
Fair Market Rent (HUD)
$1,620/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,738 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$44,856/yr
At $3,738/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +13.9% MoM), not inventory.
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Demographics

Who lives here

Elm Grove, WI is majority owner-occupied, has a large retiree population, has a median income above the national average, 74.6% of residents hold a bachelor's degree or higher.

Population
6,459
Median income
$158,016
Median age
44.3
Renters
11.5%
Age distribution
27.3%
25%
14.3%
22.9%
Under 1827.3%
18–3410.5%
35–5425%
55–6414.3%
65+22.9%
Gender
50.1%
49.9%
Male50.1%
Female49.9%
Race & ethnicity
92.3%
White92.3%
Hispanic2.9%
Asian1.6%
Other3.1%
Education (25+)
16.1%
74.6%
No HS diploma0.8%
HS diploma8.5%
Some college16.1%
Bachelor's+74.6%
Housing tenure
88.5%
Owner88.5%
Renter11.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Elm Grove, WI has changed in 5 years

Income
$115,459 → $158,016
up 36.9%
Population
6,456 → 6,459
up 0.0%
Renter share
11.6% → 11.5%
-0.1 pts
Bachelor's+
65.2% → 74.6%
+9.4 pts
Median age
45 → 44.3
-0.7 yrs

Median household income grew from $115,459 to $158,016 between 2021 and 2024, a 36.9% shift. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 65.2% to 74.6%.

Community

Discussions about Elm Grove

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View Elm Grove rent history (2015–2026) →
Salary vs rent

Can you afford rent in Elm Grove on your salary?

At $3,738/mo, how Elm Grove rent compares to typical pay (30% rule).

By apartment size

Elm Grove rent by bedroom count

Median rent for each apartment size in Elm Grove. Click any size for full breakdown.

Local insights

Tips for renters in Elm Grove

About renting in Elm Grove, WI

Last updated: August 17, 2026

The median rent in Elm Grove is $3,738/mo as of August 2026. A studio apartment averages $1,210/mo while a 2-bedroom runs $1,620/mo. One-bedroom apartments average $1,360/mo and 3-bedroom units go for $2,010/mo.

At 28% of local median household income ($158,016/yr), Elm Grove ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Elm Grove an affordable city for renters?

Elm Grove is considered affordable for renters. At $3,738/mo, rent takes approximately 28% of the local median household income ($158,016/yr). The standard benchmark is 30%. Elm Grove falls comfortably within that range.

How much income do you need to rent in Elm Grove?

To keep rent at or below 30% of gross income, you would need to earn at least $150,000/year (~$72/hour full-time) to afford the median rent of $3,738/mo in Elm Grove. The local median household income is $158,016/yr, meaning the typical Elm Grove household meets that threshold.

Is rent going up or down in Elm Grove?

Rent in Elm Grove has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Elm Grove rent compare to other cities in Wisconsin?

Elm Grove is one of the pricier cities in Wisconsin for rent, ranking #1 out of 62 tracked cities at $3,738/mo.

Which nearby cities are cheaper to rent in than Elm Grove?

Several nearby cities have lower median rents than Elm Grove ($3,738/mo): West Allis ($1,332/mo), Milwaukee ($1,458/mo), Wauwatosa ($1,686/mo).

What percentage of Elm Grove residents rent vs. own?

According to Census data, approximately 11.5% of Elm Grove households are renters, while 88.5% are owner-occupied. Elm Grove leans toward homeownership, which can mean a smaller rental inventory.

How does Elm Grove rent compare to the national average?

Elm Grove's median rent of $3,738/mo is $1,776 (91%) above the US national median of $1,962/mo. Within Wisconsin, it ranks #1 out of 62 tracked cities.
Income Affordability
28%
AFFORDABLE

At $3,738/mo, rent takes ~28% of Elm Grove's median household income ($158,016/yr). The standard benchmark is 30%.

Elm Grove 28%Benchmark 30%
State income tax3.5–7.65%
Run the Elm Grove affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Elm Grove, WI

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