News Summary
Milwaukee is projected to see an influx of 2,624 new apartment units in 2025, marking a 51% increase from the previous year. While this growth indicates positive development for the city’s housing market, it still falls short compared to other major Midwest cities. Several new developments are on the horizon, including projects in various neighborhoods. This growth comes amid rising rental prices and a shift in the competitive market, as Milwaukee navigates increasing demand for housing.
Milwaukee is expected to welcome 2,624 new apartment units in 2025, marking a significant 51% increase over the previous year’s total. This projection, part of a report from RentCafe, suggests positive growth for the metro area as it aims to expand its housing options amid increasing demand.
Despite the upcoming surge in apartment units, Milwaukee will still lag behind major Midwest cities. Columbus, Ohio leads the way with 5,719 projected units, followed closely by Minneapolis with 5,659 units and Indianapolis at 4,609 units. As a result of this growth, Milwaukee finds itself outside the top 20 U.S. metropolitan areas in terms of new apartment units, although it does rank 11th for the largest increase in apartment unit deliveries from 2024 to 2025.
The report bases its projections on Yardi’s proprietary algorithm, which estimates the completion of new apartment buildings with more than 50 units, analyzing confirmed and likely projects based on certificates of occupancy.
Upcoming Developments in Milwaukee
Several notable apartment developments are scheduled for completion in 2025. These include:
- Evoni apartment building: A 261-unit development located in the Historic Third Ward.
- Norden Range: An upcoming project in Oconomowoc.
- Caroline Heights: A development in Elm Grove, both by the Mandel Group.
- Elevation 1659: A 67-unit project on the Lower East Side.
- ThriveOn King: An affordable housing project in Bronzeville.
- The Corliss: Another affordable apartment building located in Bay View.
Milwaukee has recently been identified as one of the tightest apartment markets in the country, where rents have been rapidly increasing. However, a previous report indicated that its apartment market is becoming less competitive compared to prior years. This paradox of growing numbers amidst increasing challenges reflects a nuanced landscape for both renters and investors.
National Trends
Overall, the 2025 outlook suggests that approximately 506,353 new apartment units will be completed nationwide, indicating a decline from last year’s record-setting numbers. The trend is particularly pronounced in the Sun Belt region, where over half of the new units are concentrated.
Since the year 2000, 76% of all new apartment construction in Milwaukee has taken place in the downtown area. Nevertheless, this trend is experiencing a slowdown, as nationwide data reveals that only 34.7% of new completions occurred in downtown regions since 2020. The decline is held steady by a drastic fall in adaptive reuse projects, which dropped from 10% in the 2010s to merely 6% presently.
As part of a strategy to bolster downtown housing, some cities, including Milwaukee, are focusing on converting various types of properties into apartments. A notable project includes a proposed 65-unit apartment building on Stowell Ave., which recently cleared public hurdles and secured support from local authorities. This site has remained vacant for nearly two decades and plans feature 81 parking spaces and a second-floor deck. Construction is expected to commence later this year, though rental rates for the new development have yet to be determined.
As Milwaukee prepares for its apartment expansion in 2025, the interplay of rising demand and developmental influences will shape the future housing landscape in the city. It remains to be seen how this surge will impact rental prices and availability for local residents.
Deeper Dive: News & Info About This Topic
HERE Resources
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: Milwaukee to Add 2,600 New Apartments in 2025
- Wikipedia: Milwaukee
- Journal Sentinel: Milwaukee Firm Developing Apartments
- Google Search: Milwaukee apartments 2025
- RE Journals: New Milwaukee Apartment Units Rising
- Google Scholar: Milwaukee real estate trends
- Urban Milwaukee: East Side Apartment Complex
- Encyclopedia Britannica: Milwaukee real estate
- BizTimes: Proposed 72-Unit Apartment Complex
- Google News: Milwaukee housing market
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.
