Milwaukee’s bargain-basement rental rates, a big part of what makes the city attractive to outsiders, are showing signs of change. The high-end apartment boom (expected to add more than 3,800 new units in 2017) is also driving up apartment rents to the tune of about 5 percent a year on average, according to Brookfield real estate firm Marcus and Millichap, with greater increases cropping up in hot neighborhoods. Nowadays the average apartment, across all sizes and places, goes for slightly more than $1,000 a month.
Downtown Milwaukee, Shorewood
Rent Change*: 11.5%
Average Rent: $1,429
North Side, West Side, Wauwatosa
Rent Change*: 11.5%
Average Rent: $1,169
Waukesha County
Rent Change*: 2.9%
Average Rent: $1,096
Franklin, Oak Creek
Rent Change*: 7.2%
Average Rent: $989
South Side, West Allis, Greenfield
Rent Change*: 4.8%
Average Rent: $867
Racine
Rent Change*: -0.5%
Average Rent: $788
*Q2 2017 versus Q2 2016; move-in bonuses and other benefits not included
