53122 — Elm Grove, WI Home Values
Typical home value $697,064 as of August 2026 · 3rd of 79 in Milwaukee-Waukesha, WI
Blue: typical home value (Zillow ZHVI) in ZIP code 53122, August 2021 to August 2026. This page shows observed data only; no forecast.
How 53122 compares in the Milwaukee-Waukesha, WI area
ZIP code 53122 (Elm Grove, WI) has a typical home value of $697,064 as of August 2026, ranking 3rd of 79 ZIP codes tracked in the Milwaukee-Waukesha, WI area, more expensive than about 97% of ZIP codes in the metro. Prices here have moved +6.3% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +32.4%, from $526,300 in August 2021 to $697,064 in August 2026. Against observed rent, the typical home here sells for 17× the annual rent ($3,420/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Milwaukee-Waukesha, WI forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Milwaukee.
Population and demographics
ZIP code 53122 has a population of 6,467, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 84.7% White, 4.6% Hispanic or Latino, 3.9% Asian, 3.5% two or more races, 3.2% Black or African American, and 0.2% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Tonawanda Elementary | 13605 Underwood River Pkwy, Elm Grove, WI | 0.5 mi |
| Pilgrim Park Middle | 1500 Pilgrim Pkwy, Elm Grove, WI | 0.8 mi |
| Dixon Elementary | 2400 Pilgrim Square Dr, Brookfield, WI | 1.4 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 53122?
$697,064 as of August 2026, the latest month Zillow has published observed data for.
Is 53122 an expensive ZIP code in the Milwaukee-Waukesha, WI area?
53122 ranks 3rd of 79 ZIP codes in the Milwaukee-Waukesha, WI area by typical home value, more expensive than about 97% of ZIP codes in the metro.
How much have home values in 53122 changed over the past year?
+6.3% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 53122?
The typical home price is 17× the observed annual rent in this ZIP code ($3,420/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 53122?
6,467, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 53122?
Tonawanda Elementary (0.5 mi), Pilgrim Park Middle (0.8 mi), Dixon Elementary (1.4 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 53122?
No. Every number on this page is observed Zillow data as of August 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Milwaukee-Waukesha, WI forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.