Appleton Ranks Top U.S. Housing Market

A Wall Street Journal and Realtor.com study placed the Wisconsin city first nationally, with South Bend-Mishawaka, Ind. ranking first in summer rankings.

Updated on Nov. 12, 2026 in Residential

Gouache-painted editorial illustration of a modest house on a quiet residential street with a rounded oak tree, evoking Appleton's housing market. — The Wall Street Journal and Realtor.com ranked Appleton, Wisconsin, the top U.S. housing market, as local inventory rises and buyers gain leverage. AI Illustration. Upload story photo >

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The Wall Street Journal and Realtor.com study ranked Appleton the top housing market in the U.S., while Appleton placed second behind South Bend-Mishawaka, Ind. in the summer rankings. Northeast Wisconsin realtors report that the housing market has loosened significantly in the past year.

Why it matters

The ranking reflects a combination of economic strength, housing and living costs, demand, inventory, and quality of life rather than a single standout metric. For Appleton residents and home buyers in the region, the study offers a snapshot of how the local market compares nationally.

The ranking comes from a Wall Street Journal and Realtor.com study, with Appleton ranked No. 1 nationally and No. 2 in summer rankings. The extraction does not detail the specific weighting of economic, housing cost, demand, inventory and quality-of-life factors used.

The players

Wall Street Journal

The Wall Street Journal is a major American business newspaper that co-produced the housing market study ranking Appleton first.

Realtor.com

Realtor.com is a national real estate listings platform that co-produced the housing market study with the Wall Street Journal.

The details

Northeast Wisconsin realtors say housing inventory has increased and the market has loosened significantly over the past year. The study weighs economic strength, housing and living costs, demand, inventory and quality of life.

Earlier this year: Green Bay ranked No. 14 in a housing ranking.
Summer: Appleton placed second behind South Bend-Mishawaka, Ind. in the summer rankings.
Past year: Northeast Wisconsin's housing market loosened significantly.

Market Pulse

Appleton's top ranking in the Wall Street Journal and Realtor.com study follows a broader loosening of Northeast Wisconsin's housing market over the past year as inventory has grown. Area realtors say the shift has changed how quickly homes sell in the region.

Home buyers in Appleton may face more choice as inventory rises and the market loosens. Sellers should expect homes to sit on the market 30, 40, or 50 days because the buyer pool is smaller.

The takeaway

Appleton's ranking suggests buyers in the region may have more room to negotiate than in recent years. Sellers should plan for longer listing periods as the buyer pool narrows.