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City Report · WI

Oconomowoc

Pop. 19,080·7th most expensive in Wisconsin·Oconomowoc rents are up 24.1% over the past year
Median rent (all units)
$1,862/mo
Year-over-Year
+24.1%
Month-over-Month
+1.3%
vs US Median
-$103
Rising (Monthly)
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Most AffordableMost Expensive
Oconomowoc · $1,862
More expensive than 50% of US cities · National median $1,965/mo
Affordability
21% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,862/mo, rent takes about 21% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$74,000/yr
Local median income
$106,425/yr
Based on the 30%-of-income rule using Oconomowoc's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,030
1 BR
$1,160
2 BR
$1,390
3 BR
$1,740
4 BR+
$1,890
Research median
$1,390/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$22,344/yr
At $1,862/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 24.1% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+24.1% YoY, +1.3% MoM), not inventory.
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Demographics

Who lives here

Oconomowoc, WI is majority owner-occupied, has a median income above the national average, 48.4% of residents hold a bachelor's degree or higher.

Population
19,080
Median income
$106,425
Median age
42.6
Renters
30.9%
Age distribution
20.7%
19.6%
25.1%
14.7%
19.9%
Under 1820.7%
18–3419.6%
35–5425.1%
55–6414.7%
65+19.9%
Gender
47.7%
52.3%
Male47.7%
Female52.3%
Race & ethnicity
95.8%
White95.8%
Hispanic3.6%
Education (25+)
21.4%
28.2%
48.4%
No HS diploma2.1%
HS diploma21.4%
Some college28.2%
Bachelor's+48.4%
Housing tenure
69.1%
30.9%
Owner69.1%
Renter30.9%

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

2021 vs 2026

How Oconomowoc, WI has changed in 5 years

Income
$95,914 → $106,425
up 11.0%
Population
17,969 → 19,080
up 6.2%
Renter share
31.3% → 30.9%
-0.4 pts
Bachelor's+
44.4% → 48.4%
+4.0 pts
Median age
40.7 → 42.6
+1.9 yrs

Local incomes tracked alongside that move, going from a median of $95,914 in 2021 to $106,425 more recently. The population has grown by 6.2% since 2021, moving from about 17,969 residents to roughly 19,080. College-educated residents now make up 48.4% of adults here, versus 44.4% in 2021.

Community

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View Oconomowoc rent history (2015–2026) →
Salary vs rent

Can you afford rent in Oconomowoc on your salary?

At $1,862/mo, how Oconomowoc rent compares to typical pay (30% rule).

By apartment size

Oconomowoc rent by bedroom count

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

Local insights

Tips for renters in Oconomowoc

About renting in Oconomowoc, WI

Last updated: July 20, 2026

The median rent in Oconomowoc is $1,862/mo as of July 2026. A studio apartment averages $1,030/mo while a 2-bedroom runs $1,390/mo. One-bedroom apartments average $1,160/mo and 3-bedroom units go for $1,740/mo.

At 21% of local median household income ($106,425/yr), Oconomowoc ranks as affordable compared to the national benchmark of 30%. Rents have increased 24.1% over the past year.

FAQ

Frequently asked questions

Is Oconomowoc an affordable city for renters?

Oconomowoc is considered very affordable for renters. At $1,862/mo, rent takes approximately 21% of the local median household income ($106,425/yr). The standard benchmark is 30%. Oconomowoc falls comfortably within that range.

How much income do you need to rent in Oconomowoc?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (~$36/hour full-time) to afford the median rent of $1,862/mo in Oconomowoc. The local median household income is $106,425/yr, meaning the typical Oconomowoc household meets that threshold.

Is rent going up or down in Oconomowoc?

Rent in Oconomowoc has increased 24.1% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Oconomowoc rent compare to other cities in Wisconsin?

Oconomowoc is one of the pricier cities in Wisconsin for rent, ranking #7 out of 62 tracked cities at $1,862/mo.

Which nearby cities are cheaper to rent in than Oconomowoc?

Several nearby cities have lower median rents than Oconomowoc ($1,862/mo): Hartford ($1,050/mo), Watertown ($1,166/mo), Waukesha ($1,490/mo).

What percentage of Oconomowoc residents rent vs. own?

According to Census data, approximately 30.9% of Oconomowoc households are renters, while 69.1% are owner-occupied. Oconomowoc leans toward homeownership, which can mean a smaller rental inventory.

How does Oconomowoc rent compare to the national average?

Oconomowoc's median rent of $1,862/mo is $103 (5%) below the US national median of $1,965/mo. Within Wisconsin, it ranks #7 out of 62 tracked cities.
Income Affordability
21%
VERY AFFORDABLE

At $1,862/mo, rent takes ~21% of Oconomowoc's median household income ($106,425/yr). The standard benchmark is 30%.

Oconomowoc 21%Benchmark 30%
State income tax3.5–7.65%
Run the Oconomowoc affordability calculator →
Lowest-rent ZIP codes in Oconomowoc
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Oconomowoc, WI

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