Milwaukee Wisconsin Residential Rent and Rental Statistics
The median monthly gross residential rent in Milwaukee, WI (the Milwaukee-Waukesha-West Allis metro area) was $914 in 2019 according to the Census ACS survey.1 Average gross rent in Milwaukee was $969 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Milwaukee median and average rent data will be released in September of 2021.
Data is also available below for Milwaukee rental vacancy rates, Milwaukee rent as a percent of median income and the fraction of renters in Milwaukee.
Real Gross Rent in Milwaukee Wisconsin (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Wisconsin Median Gross Rent | $867 | +0.58% | +3.21% |
| Milwaukee, WI Median Gross Rent | $914 | +1.56% | +2.01% |
Milwaukee, WI Real Gross Rent Trends
At $914, real median gross rent in Milwaukee was at its highest level in 2019 since the series began in 2005. At $969, real average gross rent in Milwaukee was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Milwaukee: Milwaukee WI Median, Milwaukee WI Average, Wisconsin Median, US Median
Real Gross Rent History for Milwaukee
| Date | US Median |
Wisconsin Median |
Milwaukee, WI Median |
Milwaukee, WI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $867 | $914 | $969 |
| 2018 | $1,077 | $862 | $900 | $942 |
| 2017 | $1,043 | $844 | $896 | $932 |
| 2016 | $1,027 | $840 | $896 | $925 |
| 2015 | $1,017 | $840 | $900 | $939 |
| 2014 | $986 | $826 | $883 | $920 |
| 2013 | $953 | $798 | $850 | $878 |
| 2012 | $940 | $790 | $839 | $873 |
| 2011 | $941 | $798 | $848 | $879 |
| 2010 | $955 | $799 | $854 | $894 |
| 2009 | $960 | $807 | $873 | $896 |
| 2007 | $927 | $791 | $851 | $879 |
| 2005 | $910 | $804 | $858 | $879 |
Milwaukee Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Milwaukee Wisconsin was 5.45% according to Census ACS data.
Rental Vacancy Rate in Milwaukee Wisconsin
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Wisconsin | 4.93% | -0.46% | +0.08% |
| Milwaukee, WI | 5.45% | -0.38% | +0.23% |
Trends in Milwaukee, WI Rental Vacancy Rate
The rental vacancy rate in Milwaukee peaked in 2006 at 6.90%. Since then it has fallen by 1.45% to 5.45%. Data records for this series originated in 2005. From a 2011 post peak low of 3.45%, the rental vacancy rate has increased by 2.00%.
Rental Vacancy Rate: Milwaukee WI, Wisconsin, US
Historical Rental Vacancy Rate data for Milwaukee
| Date | US | Wisconsin | Milwaukee, WI |
|---|---|---|---|
| 2019 | 5.97% | 4.93% | 5.45% |
| 2018 | 6.15% | 5.39% | 5.83% |
| 2017 | 6.18% | 5.20% | 6.53% |
| 2016 | 5.89% | 4.85% | 5.22% |
| 2015 | 5.85% | 4.67% | 4.00% |
| 2014 | 6.32% | 4.64% | 3.66% |
| 2013 | 6.49% | 5.22% | 4.23% |
| 2012 | 6.77% | 5.48% | 4.22% |
| 2011 | 7.40% | 5.17% | 3.45% |
| 2010 | 8.17% | 6.16% | 4.67% |
| 2009 | 8.43% | 5.86% | 4.28% |
| 2007 | 7.87% | 6.83% | 6.42% |
| 2005 | 7.74% | 6.49% | 5.47% |
Rent as a Fraction of Income
Using median household income data for Milwaukee, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Milwaukee, median monthly gross rent as a fraction of median household income was 16.66% in 2019 according to the ACS.
Milwaukee Wisconsin Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Wisconsin | 16.21% | -0.51% | -0.73% |
| Milwaukee, WI | 16.66% | -0.84% | -1.04% |
Trends in Milwaukee, WI Rent as a Fraction of Income
The fraction of median Milwaukee household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 18.87%. Since then it has fallen by 2.21% to 16.66%.
Fraction of Income towards Rent: Milwaukee WI, Wisconsin, US
Historical Data for Annual Rent as a Fraction of Income in Milwaukee Wisconsin
| Date | US | Wisconsin | Milwaukee, WI |
|---|---|---|---|
| 2019 | 20.03% | 16.21% | 16.66% |
| 2018 | 20.50% | 16.72% | 17.49% |
| 2017 | 20.13% | 16.57% | 17.54% |
| 2016 | 20.43% | 16.94% | 17.70% |
| 2015 | 20.63% | 17.08% | 18.09% |
| 2014 | 20.89% | 17.83% | 18.87% |
| 2013 | 20.78% | 17.67% | 18.64% |
| 2012 | 20.65% | 17.46% | 18.00% |
| 2011 | 20.70% | 17.60% | 18.59% |
| 2010 | 20.50% | 17.51% | 18.42% |
| 2009 | 20.12% | 16.99% | 17.67% |
| 2007 | 18.66% | 15.97% | 16.71% |
| 2005 | 18.89% | 16.38% | 17.35% |
Renter Fraction in Milwaukee Wisconsin
You can calculate the renter fraction in Milwaukee in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Milwaukee as a fraction of total Milwaukee households. In 2019 40.12% of households were renters according to Census ACS data.
Milwaukee Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Wisconsin | 32.80% | -0.06% | -0.54% |
| Milwaukee, WI | 40.12% | +0.50% | -0.02% |
Trends in the Milwaukee, WI Renter Fraction
The Milwaukee household renter fraction peaked in in 2015 at 41.14% and is now 1.02% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Milwaukee WI, Wisconsin, US
History of Milwaukee Renter Fraction
| Date | US | Wisconsin | Milwaukee, WI |
|---|---|---|---|
| 2019 | 35.89% | 32.80% | 40.12% |
| 2018 | 36.05% | 32.86% | 39.62% |
| 2017 | 36.13% | 33.39% | 40.32% |
| 2016 | 36.88% | 33.34% | 40.14% |
| 2015 | 36.97% | 33.21% | 41.14% |
| 2014 | 36.90% | 33.40% | 40.42% |
| 2013 | 36.50% | 32.82% | 39.47% |
| 2012 | 36.09% | 32.71% | 40.07% |
| 2011 | 35.42% | 32.15% | 39.56% |
| 2010 | 34.65% | 31.30% | 37.79% |
| 2009 | 34.13% | 31.02% | 37.65% |
| 2007 | 32.80% | 29.92% | 36.14% |
| 2005 | 33.10% | 29.88% | 36.04% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
