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ZIP Code · WI

ZIP 53132

Part of Franklin, WI
Pop. 35,433·Milwaukee County·8th most expensive ZIP in Wisconsin
Median rent (all units)
$1,947/mo
Year-over-Year
Stable
Month-over-Month
+2.2%
vs US Median
-$18
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 53132 · $1,947
More expensive than 57% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,250
1 BR
$1,360
2 BR
$1,630
3 BR
$2,010
4 BR+
$2,170
Research median
$1,630/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
$23,364/yr
At $1,947/mo median
Location
StateWI
CountyMilwaukee County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +2.2% MoM), not inventory.
Demographics

Who lives here

ZIP 53132 (Franklin, WI) is majority owner-occupied, has a median income above the national average, 44.4% of residents hold a bachelor's degree or higher.

Population
35,433
Median income
$109,850
Median age
42.9
Renters
22.2%
Age distribution
22.6%
15.9%
27.6%
14.5%
19.5%
Under 1822.6%
18–3415.9%
35–5427.6%
55–6414.5%
65+19.5%
Gender
49.9%
50.1%
Male49.9%
Female50.1%
Race & ethnicity
82.9%
White82.9%
Black2.9%
Hispanic6.2%
Asian6%
Other2.1%
Education (25+)
23.2%
27.5%
44.4%
No HS diploma5%
HS diploma23.2%
Some college27.5%
Bachelor's+44.4%
Housing tenure
77.8%
22.2%
Owner77.8%
Renter22.2%

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

2021 vs 2026

How ZIP 53132 in Franklin, WI has changed in 5 years

Income
$92,332 → $109,850
up 19.0%
Population
36,182 → 35,433
down 2.1%
Renter share
21.3% → 22.2%
+0.9 pts
Bachelor's+
42% → 44.4%
+2.4 pts

Local incomes tracked alongside that move, going from a median of $92,332 in 2021 to $109,850 more recently. Headcount in the area went from 36,182 to 35,433 between 2021 and 2024, a 2.1% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 42% to 44.4%.

Community

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Local insights

Tips for renters in ZIP 53132

About renting in ZIP 53132

Last updated: July 20, 2026

ZIP code 53132 covers Franklin, WI. The median rent here is $1,947/mo as of July 2026. A 1-bedroom rents for a median of $1,360/mo. A 2-bedroom rents for a median of $1,630/mo.

At 21% of local median household income ($109,850/yr), ZIP 53132 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 53132?

As of July 20, 2026, the median monthly rent in ZIP 53132 (Franklin, WI) is $1,947. This is based on aggregated data from public sources and community submissions.

How does ZIP 53132 rent compare to the US average?

ZIP 53132's median rent of $1,947/mo is $18 (1%) below the US national median of $1,965/mo.

How does ZIP 53132 compare to other ZIPs in Wisconsin?

ZIP 53132 is one of the pricier ZIP codes in Wisconsin, ranking #8 out of 107 ZIPs tracked at $1,947/mo.

How much income do you need to rent in ZIP 53132?

To keep rent at or below 30% of gross income, you would need to earn at least $78,000/year (~$38/hour full-time) to afford the median rent of $1,947/mo in ZIP 53132. The local median household income is $109,850/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 53132?

Rent in ZIP 53132 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 53132 an affordable place to rent?

ZIP 53132 is considered very affordable for renters. At $1,947/mo, rent takes approximately 21% of the local median household income ($109,850/yr). The standard benchmark is 30%. ZIP 53132 falls comfortably within that range.

What percentage of ZIP 53132 residents rent vs. own?

According to Census data, approximately 22.2% of ZIP 53132 households are renters, while 77.8% are owner-occupied. ZIP 53132 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 53132 compare to the rest of Franklin?

ZIP 53132 sits right at the Franklin citywide median of $1,947/mo.

When was rent data for ZIP 53132 last updated?

Rent data for ZIP 53132 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $1,947/mo, rent takes ~21% of ZIP 53132's median household income ($109,850/yr). The standard benchmark is 30%.

ZIP 53132 21%Benchmark 30%
State income tax3.5–7.65%
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Schools nearby

Public schools near ZIP 53132 (Franklin, WI)

Recent submissions

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