News Summary
Milwaukee is projected to welcome an additional 2,624 apartment units by 2025, reflecting a significant 51% increase in new deliveries. Although this growth places Milwaukee 11th among U.S. metropolitan areas, the city’s total still lags behind other Midwestern cities like Columbus and Minneapolis. The recent report from RentCafe indicates a competitive housing market, with a push towards affordable housing options. Local developments such as Evoni and ThriveOn King highlight the city’s evolving landscape.
Milwaukee is projected to welcome an additional 2,624 apartment units by 2025, marking a significant 51% increase compared to the previous year. This growth, highlighted in a recent report by RentCafe, places Milwaukee 11th among U.S. metropolitan areas for substantial increases in apartment unit deliveries.
Despite this notable rise, Milwaukee’s total number of new apartment units remains lower than other Midwestern cities. Columbus, Ohio, leads with 5,719 units, followed by Minneapolis, Minnesota, with 5,659 units, and Indianapolis, Indiana, at 4,609 units. Milwaukee does not rank among the top 20 metropolitan areas in the nation for apartment deliveries, indicating a competitive landscape for housing in the region.
The report emphasizes buildings with more than 50 units, using data derived from Yardi projections and a proprietary algorithm to predict confirmed and likely completions. The metrics utilized in the report are based on certificates of occupancy, which signify the completion of properties ready for tenants.
Recent Developments in Milwaukee
Among the recent apartment developments in Milwaukee is the Evoni apartment building, located in the Historic Third Ward, which offers 261 units. Additional projects include Norden Range in Oconomowoc and Caroline Heights in Elm Grove, both of which are developed by Mandel Group. On the Lower East Side, Elevation 1659 has opened its doors with 67 units. There’s also a surge in affordable housing with projects like ThriveOn King in Bronzeville and The Corliss in Bay View.
Market Dynamics and Trends
Milwaukee and its surrounding areas have ranked among the tightest apartment markets in the United States, demonstrating some of the highest rent growth rates nationally in recent years. Nonetheless, a previous report suggested that the competitive edge of the metro’s apartment market is diminishing compared to earlier years, indicating a shift in market dynamics.
On a national scale, apartment construction is projected to remain robust in 2025, with approximately 506,353 units expected to open. This figure, while representing a decline from last year’s record levels, still exceeds the annual averages seen over the past decade. A vast majority of these new apartment units will be concentrated in the Sun Belt region, further highlighting regional disparities in housing development.
Conclusion
The anticipated addition of 2,624 apartment units in Milwaukee encapsulates both growth and the challenges faced by the city’s housing market. While the increase is significant, it also reflects Milwaukee’s ongoing struggle to catch up with housing trends seen in other major metropolitan areas. As the housing landscape continues to evolve, it will be essential for residents and local leaders to monitor these developments closely to address both opportunities and challenges that arise.
Deeper Dive: News & Info About This Topic
HERE Resources
Milwaukee Set for Apartment Unit Surge in 2025
Milwaukee Nonprofits Launch Initiative for Developers
Weas Development Proposes 72-Unit Apartment Complex in Milwaukee
Milwaukee Unveils Plans for New Apartment Complex
CEO Arrested for Fraudulently Securing COVID-19 Relief Funds
Additional Resources
- BizTimes: Metro Milwaukee to Add 2,600 New Apartments in 2025
- JSONline: Why a Milwaukee Firm is Developing Apartments Instead of Condos
- RE Journals: Most New Milwaukee Apartment Units in Downtown Core
- Wikipedia: Milwaukee
- Google Search: Milwaukee apartment developments
Author: STAFF HERE MILWAUKEE WRITER
MILWAUKEE STAFF WRITER The MILWAUKEE STAFF WRITER represents the experienced team at HEREMilwaukee.com, your go-to source for actionable local news and information in Milwaukee, Milwaukee County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Summerfest, Milwaukee Film Festival, and the Milwaukee Boat Show. Our coverage extends to key organizations like the Metropolitan Milwaukee Association of Commerce and Visit Milwaukee, plus leading businesses in manufacturing and brewing that power the local economy such as Harley-Davidson and MillerCoors. As part of the broader HERE network, we provide comprehensive, credible insights into Wisconsin's dynamic landscape.
