%
CapRateCity
Free cap rate calculators for every US market
Milwaukee, WI

Rent Analysis: Milwaukee, WI

Updated 2026 · Based on median market data for Milwaukee, WI

Cap Rate
3.92%
Median Price
$195K
Rent/Mo
$1,150
1% Rule
0.59%
Fails

Rent Overview

The median monthly rent in Milwaukee, WI is $1,150, translating to $13,800 in annual gross rental income per unit. The rent-to-price ratio is 0.59% — well below the 1% rule, making pure cash flow investing challenging at median prices.

Rent Affordability

Renters in Milwaukee spend approximately 30% of the local median household income ($46,400) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.

Vacancy & Tenant Demand

The vacancy rate in Milwaukee is 6.3%. 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 0.4% annually provides stable demand.

Gross Rent Multiplier

Milwaukee's GRM (price divided by annual rent) is 14.1x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.

Rental Income Projection

At the median rent of $1,150/mo, a single-family rental in Milwaukee generates approximately $13,800 in gross annual income. After accounting for 6.3% vacancy ($869 lost), property taxes of $3,725, insurance (~$780), and maintenance (~$780), the estimated NOI is $7,646 per year, or $637/mo.

Full Milwaukee Analysis →Cap Rate CalculatorBRRRR Calculator

More Milwaukee Guides

Rental Property Investment GuideProperty Tax GuideCost of Living & AffordabilityAppreciation & Growth ForecastNeighborhood Investment Guide

Similar Markets in the Midwest

Bloomington, IL$185K · $1,100/mo
3.9%
Columbia, MO$225K · $1,180/mo
3.9%
Des Moines, IA$215K · $1,180/mo
3.9%
Kansas City, MO$245K · $1,320/mo
4.0%
Champaign, IL$175K · $1,050/mo
4.0%
The CapRateCity Report
Weekly market analysis: highest cap rate cities, emerging markets, and deal breakdowns. Free, no spam.