Oconomowoc Homes under $400,000

Oconomowoc Homes under $400,000

Welcome to Oconomowoc, Wisconsin – a charming city nestled in the heart of Waukesha County, where picturesque lakes meet vibrant community life. Known for its stunning natural beauty, Oconomowoc is a haven for outdoor enthusiasts, offering a plethora of recreational activities including boating, fishing, hiking, and biking. The city is beautifully bordered by the sparkling waters of Oconomowoc Lake, Lac La Belle, and Fowler Lake, making it an ideal spot for those who appreciate a lakeside lifestyle.

Oconomowoc boasts a rich history and a warm, welcoming community spirit. With its quaint downtown area filled with unique shops, delightful eateries, and local events, residents enjoy a strong sense of belonging. The city is also home to top-rated schools, making it a fantastic place for families to settle down.

For homebuyers seeking affordability without sacrificing quality, Oconomowoc offers a variety of charming residences under $400,000. From cozy single-family homes to modern townhouses, there is something to suit every taste and lifestyle. These homes often feature spacious yards, updated interiors, and proximity to parks and schools, making them perfect for families, first-time buyers, or those looking to downsize.

With its perfect blend of natural beauty, community charm, and affordable housing options, Oconomowoc is truly a hidden gem in Wisconsin. Whether you’re looking to plant roots or find a vacation retreat, this delightful city has everything you need to feel right at home. Come explore Oconomowoc and discover your dream home today!

Newest Oconomowoc Homes under $400,000

320 E Pleasant St Unit 106, Oconomowoc
$380,000
2 Beds ⋅ 2 Baths
Enjoy lake living in this 2-bedroom, 2-bathroom first-floor corner unit featuring peaceful green-space views and a sizable patio. 2 patio door access to private patio. Underground parking is a sought after condo convenience. Located just one block from downtown Oconomowoc's shopping, dining, and year-round activities. Your new home places you steps away from beautiful Fowler Lake. Launch a kayak, enjoy easy boating access, or relax beside the gorgeous in-ground pool surrounded by beautifully maintained gathering areas overlooking the lake. Pier slips may also be available for the ultimate lakeside lifestyle. Photos Digitally Altered

320 E Pleasant St Unit 106, Oconomowoc

Listing courtesy of Lannon Stone Realty LLC.

326 S Silver Lake St, Oconomowoc
$339,900
5 Beds ⋅ 2 Baths
Beautiful Downtown Oconomowoc Victorian home offering timeless charm, spacious living, and versatile possibilities! This 5-bedroom, 2-bath home sits on a generous .4-acre lot and can function as a single-family residence or offers duplex potential. Enjoy classic character throughout, a welcoming front porch, and a side deck perfect for relaxing or entertaining. A newer roof adds peace of mind, while the convenient downtown location puts shopping, dining, parks, and Oconomowoc's vibrant community just moments away. A wonderful opportunity to own a piece of Oconomowoc history with flexibility for your lifestyle or investment goals!

326 S Silver Lake St, Oconomowoc

Listing courtesy of Keller Williams Realty-Milwaukee Southwest.

816 Armour Rd, Oconomowoc
$349,900
2 Beds ⋅ 1 Baths
This charming 2-bedroom, 1-bath ranch offers comfortable living, a spacious backyard & a standout detached heated garage with its own half bath. Inside, a large kitchen provides plenty of room for cooking, dining & gathering, while the ranch layout offers easy everyday living. Outside, enjoy a generous backyard with space to relax, entertain or make your own. The oversized heated garage is a major bonus, offering exceptional space for vehicles, hobbies, a workshop or additional storage. Conveniently located in Oconomowoc with easy access to shopping, dining & everyday amenities, this home combines a great location with versatile spaces inside & out.

816 Armour Rd, Oconomowoc

Listing courtesy of Compass RE WI-Lake Country.

W342N4868 Oak Ln, Oconomowoc
$290,000
2 Beds ⋅ 1 Baths
Cozy 3 bedroom 1 bath home with fenced in yard and offers an access to Lake Park Heights Association on Okauchee Lake. Enjoy a bond fire along the lake, swimming, community raft and cookouts on shared lake front park. And you are nearby waterfront dining, boating amenities, Lions Park, Nashotah's dog park, and downtown Okauchee. Renovate the existing home or build your custom retreat or can be a great short term investment opportunity. Key due diligence is complete, including environmental reports/testing, building inspection survey, and township/Park & Planning coordination. Sold as is, interior of home has be gutted.

W342N4868 Oak Ln, Oconomowoc

Listing courtesy of United REALTORS, LLC.

333 N Lake Rd Unit 201, Oconomowoc
$345,000
2 Beds ⋅ 2 Baths
Enjoy the ease of lake life from this inviting 2nd floor condo on beautiful Fowler Lake. The expansive west-facing balcony is your perch above the neighborhood, offering golden sunsets and peek-a-book views of Lac La Belle, changing seasons and the simple pleasure of watching life unfold below. Just outside your door, a swimming pier and kayak launch invite you to enjoy the lake in every season - from summer swims and paddles to winter ice fishing and snowshoeing. The famous Fowler Lake Loop is also right outside your door, offering daily walks and waterfront views, while downtown Oconomowoc's dining, shopping and year-round events are just a few blocks away. Here, lake life and a walkable lifestyle come together naturally.

333 N Lake Rd Unit 201, Oconomowoc

Listing courtesy of Andrus Realty, LLC.

1061 Regent Rd Unit 612, Oconomowoc
$229,000
2 Beds ⋅ 1 Baths
Welcome to Lake Country Village! This freshly updated 2BR, 1.5BA condo offers new carpeting, fresh paint, underground parking plus additional surface parking, and an exceptionally convenient location. Rentals are allowed, making this an attractive opportunity for investors, with strong rental potential in the area. Enjoy everyday convenience with Chipotle, Panera and numerous restaurants, shopping, services and daily necessities just minutes away, many within walking distance. Exciting new residential development is also underway directly behind the community, adding to the continued growth of the surrounding area. Whether you're looking for a comfortable place to call home or a smart investment property, this move-in-ready condo offers affordability, convenience and potential!

1061 Regent Rd Unit 612, Oconomowoc

Listing courtesy of Milwaukee Flat Fee Homes.

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Source of listing data: Metro MLS. Copyright 2026 Multiple Listing Service, Inc. - All Rights Reserved. Information is supplied by seller and other third parties and has not been verified. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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