Updated 2026 · Based on median market data for Appleton, WI
The median monthly rent in Appleton, WI is $1,150, translating to $13,800 in annual gross rental income per unit. The rent-to-price ratio is 0.51% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Appleton spend approximately 24% of the local median household income ($58,200) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Appleton is 5%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.6% annually provides stable demand.
Appleton's GRM (price divided by annual rent) is 16.3x. A GRM above 16x means the property is expensive relative to its income. Investors here are typically betting on appreciation rather than current cash flow. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,150/mo, a single-family rental in Appleton generates approximately $13,800 in gross annual income. After accounting for 5% vacancy ($690 lost), property taxes of $4,163, insurance (~$900), and maintenance (~$900), the estimated NOI is $7,147 per year, or $596/mo.