T
he city of Milwaukee, Wisconsin is experiencing a housing market boom, with renters facing fierce competition for available apartments. According to data from RentCafe, the city's occupancy rate was 94% at the start of the year, with over 70% of tenants renewing their leases and eight renters vying for each apartment. The low cost of living in Milwaukee is a major draw, with prices only 1% above the national average, significantly lower than cities like New York and Los Angeles.

    Despite rising rent costs - averaging $1,552 per month for an 849-square-foot apartment, up 30% since February 2020 - Milwaukee remains an attractive option. However, a chronic housing shortage persists due to high interest rates and increased construction costs. "No one can figure out how to build for the people in the middle," said Chad Venne, real-estate program director at the University of Wisconsin-Milwaukee.

    Tariffs could further exacerbate the issue, potentially leading to higher costs for new single-family homes and apartment rents. As the city's tech hub continues to grow, with Fortune 500 companies like Northwestern Mutual and Rockwell Automation based there, Milwaukee's housing market is expected to remain competitive.