What the High-End Apartment Boom is Doing to Milwaukee’s Rent Prices

Luxe housing is pushing prices up.

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


Rent Change*: -0.5%
Average Rent: $788

*Q2 2017 versus Q2 2016; move-in bonuses and other benefits not included

‘Rising Tide’ appears in the October 2017 issue of Milwaukee Magazine.

Find it on newsstands beginning October 2, or buy a copy at milwaukeemag.com/shop.

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Matt has written for Milwaukee Magazine since 2006, when he was a lowly intern. Since then, he’s held the posts of assistant news editor and, most recently, senior editor. He’s lived in South Carolina, Tennessee, Connecticut, Iowa, and Indiana but mostly in Wisconsin. He wants to do more fishing but has a hard time finding worms. For the magazine, Matt has written about city government, schools, religion, coffee roasters and Congress.