Oconomowoc has the 1812th largest population in the United States. The population grew by 3.8% from 2010 to 2015, which was faster than the national average. Oconomowoc is part of the Milwaukee metro area. Unemployment in the Milwaukee area is 4%, which is lower than the national average, and is getting better. Milwaukee has the 36th largest local economy in the US, and a high cost of living. The average pay for jobs in Oconomowoc is below average at $48,170, and the median cost of a home in Oconomowoc is $232,000, which is above the national average. 39% of workers in Oconomowoc hold a bachelors degree or higher (above average), and 95% of workers have a high school degree (above average). Driving to work is especially common in Oconomowoc. 86% of Oconomowoc workers drive to work alone, 0% take public transit, 6% carpool, and 6% walk. People in Oconomowoc spend an average of 24 minutes commuting to work, which is shorter than the national average of 26 minutes.