The top rental markets in Wisconsin are Milwaukee, Madison, and Kenosha.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Wisconsin Rental Trends:
Wisconsin is in the north-central region of the U.S. and is also in the Great Lakes region – with 40 campuses in higher-education, Wisconsin property investors will have great success with many college students needing rentals. Here are some highlights from the top rental markets in the Badger State.
Days on Market:
The city with the lowest days on market is Milwaukee at 19 days – over the national average which sits at 15 days; Madison and Kenosha have the highest number of days on market at 22.
The top three towns for the largest amount of leads per listing are above the national average sitting at 38. Here they are:
- Kenosha – 101 leads per listing
- Madison – 82 leads per listing
- Milwaukee – 71 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Kenosha comes under that with the lowest average rent of $1,072 for a two-bedroom compared to the highest rent in Wisconsin at $1,307 in Madison.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. Wisconsin’s highest median sale price comes below that at $258,000 in Madison with its lowest median sale price at $124,000 in Milwaukee.
Wisconsin’s median income rings in at $46,270 – under the national average at $48,500.
Security Deposit Trends:
Security deposits have fallen in Wisconsin cities between 2018 and 2019. With the largest being a decrease of -23.46% in Milwaukee at $995, and the smallest decrease in Madison at -4.17% with the current average at around $1,150 – under the national average for security deposits which is $1,200.
All of the Wisconsin cities have a livability score of 58 or higher with the highest being Madison at 70!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.