Milwaukee, WI Rental Market
Milwaukee is Wisconsin's largest city and a manufacturing heritage hub that has successfully diversified into healthcare, financial technology, and brewing. Harley-Davidson's global headquarters, Fiserv (financial technology), Marquette University, and Froedtert Health System anchor a diverse employer base. The city's rich architecture, vibrant Third Ward neighborhood, and Lake Michigan waterfront attract young professionals seeking affordability relative to Chicago.
Get a rent estimate for an address in MilwaukeeAverage Rent in Milwaukee, WI
$1,080
per month · 2026-06
Market Score
Key Facts — Milwaukee, WI Rental Market
- Average rent in Milwaukee, WI:$1,080/mo
- Median rent:$994/mo
- Rent range:$550 – $2,400/mo
- Most common rental (2 bedrooms):$950/mo
- Active listings:1,400
- Avg days to lease:32 days
- Year-over-year change:+2.8%
- Median home value:$185,000
- Est. gross annual yield:7.0%
- Data as of:2026-06
Rent by Bedroom in Milwaukee, WI
Average monthly rent for each bedroom type based on current active listings in Milwaukee.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $775/mo |
2 Bedrooms | $950/mo |
3 Bedrooms | $1,200/mo |
4 Bedrooms | $1,500/mo |
5 Bedrooms | $1,700/mo |
Milwaukee Rental Market Statistics
Key indicators from the current Milwaukee, WI rental market.
1,400
Available now in Milwaukee
32
From list to lease
$0.85
Average across listings
1,265 sq ft
Typical rental size
$550 – $2,400
Min to max active listings
+2.8%
Avg rent vs. prior year
Investing in Milwaukee, WI Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$185,000
Typical purchase price in Milwaukee
Est. Gross Annual Yield
7.0%
Before expenses & vacancy
Avg Monthly Income
$1,080
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Milwaukee for a full cash-flow breakdown including all costs.
Milwaukee, WI Rental Market FAQ
Common questions about renting and investing in Milwaukee, WI.
What is the average rent in Milwaukee, WI?
The average rent in Milwaukee, WI is $1,080 per month as of 2026. One-bedroom apartments average $775/mo, two-bedrooms $950/mo, and three-bedroom homes $1,200/mo. The Third Ward, East Side, and Bay View neighborhoods command premium rents, while outlying areas on the north and south sides offer more affordable options.
Is Milwaukee, WI a good place to invest in rental property?
Milwaukee offers an estimated 7.0% gross annual yield with affordable median home values (~$185,000). Harley-Davidson, Fiserv, and Marquette University provide a diversified tenant base. The city's position just 90 minutes from Chicago attracts renters who want urban living at a significant cost discount.
How competitive is the Milwaukee, WI rental market?
Milwaukee averages 32 days on market with approximately 1,400 active listings. The East Side, Bay View, and Third Ward neighborhoods are the most competitive, often leasing within 3 weeks. The broader market is moderately active, supported by consistent healthcare and university employment.
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