Investor · Fresno, CA · Member since 2016 · 222 posts · 237 votes
3y
I didn't realize that Milwaukee was so affordable! I was thinking it was closer to $400k median, but I guess I was thinking of Madison. Why such a disparity?
Investor · Fresno, CA · Member since 2016 · 222 posts · 237 votes
3y
I didn't realize that Milwaukee was so affordable! I was thinking it was closer to $400k median, but I guess I was thinking of Madison. Why such a disparity?
I didn't realize that Milwaukee was so affordable! I was thinking it was closer to $400k median, but I guess I was thinking of Madison. Why such a disparity?
I would say probably historic reasons. Milwaukee got hit hard in the 70s and 80s when manufacturing jobs moved overseas, it took 50 years to recover and that has been going so quietly in the backgound that nobody took notice. Madison was always more of a college town, so it was not impacted the same way.
And MKE has a wide variety of neighborhoods with very different ptice ranges, look up Whitefish Bay or Wauwatosa, they are expensive. Milwaukee County has 19 diffent municipalities, Milwaukee propper is only one of them. And then you have the suburbs. But you are right, Madison is priced quite a bit higher and has tiny bit of a west coast feel mixed into it's Midwest flavor. That gap will probably shrink.
I didn't realize that Milwaukee was so affordable! I was thinking it was closer to $400k median, but I guess I was thinking of Madison. Why such a disparity?
Okay that makes a lot of sense! Thank you so much for the detailed explanation.
I would say probably historic reasons. Milwaukee got hit hard in the 70s and 80s when manufacturing jobs moved overseas, it took 50 years to recover and that has been going so quietly in the backgound that nobody took notice. Madison was always more of a college town, so it was not impacted the same way.
And MKE has a wide variety of neighborhoods with very different ptice ranges, look up Whitefish Bay or Wauwatosa, they are expensive. Milwaukee County has 19 diffent municipalities, Milwaukee propper is only one of them. And then you have the suburbs. But you are right, Madison is priced quite a bit higher and has tiny bit of a west coast feel mixed into it's Midwest flavor. That gap will probably shrink.
I didn't realize that Milwaukee was so affordable! I was thinking it was closer to $400k median, but I guess I was thinking of Madison. Why such a disparity?
I would say probably historic reasons. Milwaukee got hit hard in the 70s and 80s when manufacturing jobs moved overseas, it took 50 years to recover and that has been going so quietly in the backgound that nobody took notice. Madison was always more of a college town, so it was not impacted the same way.
And MKE has a wide variety of neighborhoods with very different ptice ranges, look up Whitefish Bay or Wauwatosa, they are expensive. Milwaukee County has 19 diffent municipalities, Milwaukee propper is only one of them. And then you have the suburbs. But you are right, Madison is priced quite a bit higher and has tiny bit of a west coast feel mixed into it's Midwest flavor. That gap will probably shrink.
Just want to say I am very impressed with your knowledge on your market , not just from residential but also your view from business and economy standpoint.
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
2y
Just got the fresh MLS data for May 2024 for the Milwaukee metro area:
- median price for the metro area is now 341k, up 8.1% YTD - we have a chronic rental shortage, rents are up 4.6% - inventory is up a whopping 57% from last year
Take inventory with a grain of salt, because we had almost nothing last year, so 57% more is still not much. We are still about half compared to pre-covid levels. More on YouTube.