Market Analysis
Milwaukee Rental Market
Rental investment market data and analysis · Updated November 2026
Median Home Price
$279,900
Average Monthly Rent
$1,310
Estimated Cap Rate
5.6%
Rent-to-Price Ratio
0.5%
Below 1% Rule
Rent ÷ price by zip code
0 of 4 clear the 1% rule · November 2026
| Zip | Median price | Median rent | Rent ÷ price |
|---|---|---|---|
| 53224 | $189,500 | $1,300 | 0.69% |
| 53207 | $319,900 | $1,495 | 0.47% |
| 53215 | $239,900 | $995 | 0.41% |
| 53202 | $369,000 | $1,450 | 0.39% |
Context · FRED home price index
Market Trends
Milwaukee metro area — % change since 2018
Home Prices
+86.5%
Rent Index
+36.2%
Average Rent by Bedroom
| Bedrooms | Avg Rent |
|---|---|
| Apartment | $1,180/mo |
| Townhouse | $1,511/mo |
| Condo | $1,543/mo |
| Multi-Family | $1,548/mo |
| Single Family | $1,963/mo |
Sample Investment Analysis
Based on median price + average rent, 20% down, 6.8% rate, 30yr
Purchase Price$279,900
Down Payment (20%)$55,980
Monthly P&I$1,460
Monthly Rent$1,310
Est. NOI$9,432/yr
Est. Cash Flow-$674/mo
Cash on Cash-13.1%
The Milwaukee market is cash-flow negative at median prices. Look for properties 15-20% below median or with value-add potential.
What Investors Should Know About Milwaukee
- 1Moderate cap rates suggest balanced cash flow and appreciation
- 21% Rule fails at median prices — need rent of $2,799/mo to pass
- 3Below-average rents keep entry costs low for new investors
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