Milwaukee, WI Condos for Sale | realtor.com® (2024)

FAQs

What is the vacancy rate for apartments in Milwaukee? ›

This rate hasn't wavered much over the years. In the beginning of 2024, the Milwaukee metro area saw a rental vacancy rate of lower than 4%, according to commercial real estate investment sales brokerage Marcus & Millichap. Comparably, the national rental vacancy rate in the first quarter of 2024 was 6.6%.

Current Housing Market Conditions

The housing market in Milwaukee is currently characterized by a notable increase in the median home sold price as compared to last year. As of February 2024, the median home sold price reached $231,174, indicating a healthy demand for homes in the region.

Landlords have said inflation has contributed to rising prices, while developers and housing advocates have said Wisconsin didn't build enough housing units following the 2008 Great Recession. Delgado said her landlord hasn't raised her rent yet, but she's worried that could be coming.

Floridian cities have some of the highest vacancy rates.

Cities in Florida make up one third of the top 25 spots, including Pompano Beach (21.7%), Fort Lauderdale (21.4%), Clearwater (20.7%), Cape Coral (18.4%), St. Petersburg (17.0%), West Palm Beach (16.2%) and Hollywood (15.9%).

A vacancy rate is a percentage that compares how many available units in a rental property are currently unoccupied. This metric refers to an investment property's unrealized income potential. Keep in mind that vacancy rate differs from occupancy rate, which is the percentage of rental units that are occupied.

US Rental Vacancy Rate is at 6.60%, compared to 6.60% last quarter and 6.30% last year. This is lower than the long term average of 7.27%.

The vacancy rate is the percentage of all available units in a rental property, such as a hotel or apartment complex, that are vacant or unoccupied at a particular time. A vacancy rate is the opposite of the occupancy rate, which is the percentage of units in a rental property that are occupied.