Jun 20

Since yesterday’s post on Milwaukee rent stats I’ve spoken to a number of people, both landlords and tenant advocates, who felt rents had significantly increased in Milwaukee over the past couple of years.

I took a look at this using Rent-O-Meter’s rent analytic tool.  (I highly recommend this tool for accurately  setting residential rents) In moderately priced neighborhoods both on the Southside and Northwest, their data is showing that for two bedroom units rents have actually dropped quite a bit from 2016.  Three bedroom unit rents remain stable.

Not sure what to attribute this to.  There has been a softening of occupancy levels over the past year or so, which nearly always causes price corrections.  No money/low money mortgages are reappearing.  That temporarily drives up vacancies, but as we saw in 2008, that bubble pops.

 

 

Rent-o-Meter data NW Milwaukee

Rent-o-Meter data NW Milwaukee

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