Appleton Home Prices: $342K, Up 6% — 4 ZIPs Analyzed (2026)

$341,896. That is what a typical Appleton home is worth as of February 2026, up 6.0% from a year ago. Prices have climbed every single month in the past year, even as the city’s population edged down.

Quick answer: The average home price in Appleton, WI is $341,896 as of February 2026, up 6.0% year over year according to Zillow.

Current Home Prices in Appleton

Appleton’s housing market is running hot relative to its size. The typical home sits at $341,896, with values ranging from $267,890 in the cheapest ZIP to $454,543 in the most expensive. That is a $186,653 spread inside a city of about 75,000 people.

A 6% annual gain is well above the long-run national average of roughly 3-4%. For buyers, that means waiting a year would have cost an extra $19,000 on the average home. For owners, equity built up roughly $20,000 in 12 months without anyone lifting a hammer.

The price floor matters here. At $267,890, the cheapest neighborhood in Appleton is still well above the entry-level price points seen in many smaller Wisconsin cities. Buyers shopping below $250K will need to look outside city limits.

Appleton Home Prices by Neighborhood

Four ZIPs cover the city. The gap between them is wider than you might expect.

Most Expensive

• 54913 — $454,543. This ZIP sits 33% above the city average and commands the highest rent at $1,722. Newer construction on the north and west edges drives the premium.
• 54915 — $348,359. Slightly above the city median, with rent at $1,212. The lower rent-to-price ratio suggests more owner-occupied housing.
• 54914 — $296,794. Below average on price but also the lowest rent in the city at $1,114.

Most Affordable

• 54911 — $267,890. The cheapest ZIP in Appleton, 22% below the city average. Notable quirk: rent here ($1,340) is higher than in pricier 54914 and 54915, pointing to strong rental demand near the city core.
• 54914 — $296,794. The second-cheapest ZIP and the cheapest place to rent.
• 54915 — $348,359. Mid-tier pricing for buyers who want something between the bargain ZIPs and the premium 54913.

Rent vs Buy in Appleton

Median rent across Appleton’s four ZIPs works out to about $1,347 per month. The median home costs $341,896.

Run the math on a 20% down purchase at current rates (assume 7% on a 30-year fixed): the monthly principal and interest comes to roughly $1,820. Add property tax (Wisconsin averages near 1.6% on assessed value) and insurance, and the all-in monthly cost lands close to $2,400-$2,500.

That is nearly double the rent. The gap is wider than the national average right now.

Renting wins on cash flow. Buying wins on equity if prices keep climbing at 6% — a $341K home gaining 6% a year adds about $20K in value, which more than covers the monthly cost difference. The break-even depends on how long you stay. Under three years, rent. Over five, the math usually flips toward owning.

ZIP 54911 is the outlier. Rent there ($1,340) is close to the city median, but the home price ($267,890) is the lowest. That is the strongest buy-side value in the city on a price-to-rent basis.

Population Growth and Migration

Appleton is shrinking, slowly. The Census estimates the population at 75,344 in 2024, down from 75,593 in 2020 — a loss of 249 residents over four years, or -0.3%.

The trend bottomed in 2022 and has recovered for two straight years. So the city is not in free-fall — it is roughly flat with a recent uptick. But it is not growing the way comparable Wisconsin cities are.

Appleton is the only city in this peer group with negative growth. That makes the 6% home-price gain notable — the price increase is happening despite weak demographic demand, which suggests supply constraints rather than an inflow of new buyers.

Appleton Housing Market Trends

The 12-month price ladder is one-directional: up.

Twelve straight months of gains. The total move from March 2025 to February 2026 is $19,361, or about 6.0%.

The pace has been remarkably steady. Each month added between $1,400 and $2,000 to the median. There is no sign of a stall — the most recent three months (Dec, Jan, Feb) added $3,602, slightly faster than the prior three months ($3,716 in Sep, Oct, Nov, basically tied).

That kind of consistency is rare. Most markets show seasonal lulls in winter. Appleton did not.

Is Appleton a Good Place to Buy in 2026?

The data points to a seller’s market.

Twelve consecutive months of price increases. A 6% annual gain that beats the national pace. Population is flat, which means new supply is not flooding in. The cheapest ZIP in town still costs $267,890.

For buyers, the obvious play is 54911 at $267,890 — it is the only ZIP under $300K and rent there is roughly in line with the citywide median, which suggests the price has not yet caught up to its rental income potential. ZIP 54914 at $296,794 is the second value pick.

For sellers, this is as good a window as Appleton has offered in years. Listings in 54913 (the $454K ZIP) carry the highest rents, which means investor buyers might compete with primary residents.

The flat population is the one yellow flag. Sustained 6% annual gains usually require demand growth. Without it, prices eventually plateau.

Appleton Housing Market Outlook for 2026-2027

The 3-month trend (Dec, Jan, Feb) added $3,602 — a roughly $1,200 monthly pace. If the current pace continues, the median would cross $345,000 by mid-2026 and approach $350,000 by year-end.

The trend has been unusually consistent for 12 straight months, which makes near-term continuation the simplest base case. The bigger question is what happens past 2026. With population flat, the price gains have to be coming from supply tightness, mortgage-rate sensitivity, or migration patterns the Census data does not yet capture.

Watch the spring 2026 data carefully. If the monthly gain shrinks below $1,000, the streak is breaking. If it holds at $1,500-$2,000, expect another 6% year.

Similar Markets in WI

• Green Bay — The closest neighbor by size and culture, often a useful comparison for Appleton trends.
• Oshkosh — Another Fox Valley city with similar population (~67K) and slow growth.
• Madison — The state’s growth engine; useful for seeing what fast-growing Wisconsin looks like.
• Milwaukee — The state’s largest market for a metro-scale comparison.
• Fond du Lac — A smaller nearby market that often trades at a discount to Appleton.

Frequently Asked Questions

What is the average home price in Appleton?

The average home price in Appleton, WI is $341,896 as of February 2026. That figure is drawn from the Zillow Home Value Index across four ZIP codes covering the city. Individual ZIPs range from $267,890 to $454,543.

Are home prices going up or down in Appleton?

Prices are up 6.0% year over year. The market has posted price increases every single month for the past 12 months, with the median climbing from $322,535 in March 2025 to $341,896 in February 2026.

Is it cheaper to rent or buy in Appleton?

Renting is cheaper on a monthly basis. Median rent runs about $1,347 versus an estimated $2,400-$2,500 monthly cost to own the median home (with 20% down at current rates). Buying makes sense if you plan to stay five years or more and prices keep appreciating.

What is the most affordable neighborhood in Appleton?

ZIP 54911 is the cheapest at $267,890, about 22% below the city average. Rent there is $1,340, which gives it the strongest price-to-rent ratio in the city for buyers looking for value.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.