Waukesha, WI

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Waukesha short-term rental market based on reliable data.

Listings

16 / 44

Reliable / Active

Cap Rate

10%

Middle-Earners Gross Yield

Revenue

$41,971

Middle-Earners Revenue

Occupancy

66%

Middle-Earners Occupancy

Home Value

$425,391

Median Home Sale Price

Top Earners

$102,621

Top-Earners Revenue

Waukesha

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Waukesha.

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B

Generally Investor friendly

Waukesha Regulations

STRs are explicitly allowed under Wisconsin law with a straightforward DATCP Tourist Rooming House license (1–4 units, $110 annual + $300 one‑time pre‑inspection), and municipalities like New Berlin impose additional local licensing, inspections, and occupancy/parking rules, but fees/caps remain manageable and state law limits municipalities to at least 180 rental days per year and prevents outright bans for stays of 7+ days.

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About Waukesha

Waukesha is a city in Waukesha County, Wisconsin, situated in the southeastern part of the state within the greater Milwaukee metropolitan area. With a population of approximately 72,000 residents, it functions as one of the larger inner-ring suburbs of Milwaukee while maintaining its own distinct identity. The city is best known for its nineteenth-century reputation as a destination for natural mineral springs, a heritage that still shapes local character and gives rise to the spring-fed features scattered through the surrounding landscape. Waukesha sits roughly twenty miles west of Milwaukee along Interstate 94, making it a convenient base for visitors exploring southeastern Wisconsin.

The historic downtown district of Waukesha is centered around a walkable core of preserved nineteenth- and early twentieth-century architecture, with locally owned shops, restaurants, and the restored Fox River running through it. The river and its adjacent riverwalk offer opportunities for casual walking, fishing, and gathering along the water, while the surrounding blocks invite visitors to browse independent retailers and enjoy public spaces that give the area its small-city feel. The downtown is a short drive from most of the city's residential neighborhoods and lodging options.

A drive northwest of Waukesha brings travelers to the Kettle Moraine State Forest (Northern Unit), a sprawling landscape shaped by the last ice age and threaded with more than 130 miles of hiking and biking trails. The forest is well known for the Ice Age National Scenic Trail, which winds through its kettle and moraine topography, as well as for its campgrounds, lakes, and winter activities such as cross-country skiing and snowshoeing. Depending on the trailhead chosen, the drive from Waukesha runs roughly twenty to forty minutes, making the forest an easy day trip for outdoor enthusiasts staying in the city.

To the east, the larger urban offerings of Milwaukee lie about twenty minutes away, where visitors can explore the Lake Michigan waterfront, the Milwaukee Art Museum, the Historic Third Ward neighborhood, and a lively craft brewing and dining scene. Closer to Waukesha, the Wisconsin State Fair Park in neighboring West Allis hosts the annual Wisconsin State Fair each summer, along with year-round expos and events that draw visitors from across the region.

The combination of small-city character, nearby outdoor recreation, and access to the Milwaukee metropolitan area gives Waukesha a flexibility that suits a range of traveler interests, from those seeking quiet walks along the Fox River to visitors attending the state fair or exploring Lake Michigan's shoreline. Its position between glacial forest terrain and a major Midwestern city, paired with a walkable historic core, makes the city a comfortable and well-located starting point for exploring southeastern Wisconsin throughout the year.

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