Worlds collide in the Walker's Point/ Fifth Ward neighborhood- blending the area's rich industrial history with modern art and progressive thought. This is an up-and-coming place to live as it works through the revitalization process and seeks to secure it's own identity on Milwaukee's south side.
Shabby-chic brick warehouses and shops dominate the Walker's Point landscape. The area is fast becoming a hot spot for entrepreneurs and visionaries, who see its potential as a new, trendy neighborhood for nightlife and the ultimate urban living experience.
This neighborhood has an eclectic style for mixing traditional architecture with modern twists. It is home to the Allen Bradley Clock Tower, a Milwaukee icon. The tower stands as the world's largest four-faced clock and is featured in the Guinness Book of World Records. It's the centerpiece of Rockwell Automation, one of Wisconsin's largest and well-established manufacturing companies.
However, just moments away, you'll find the recently constructed Iron Horse Hotel, a luxurious accommodation which rivals the Pfister in both sophistication and price. The Iron Horse infused the industrial culture of Walker's Point with hip, modern design, creating a truly unique experience for its guests.
While much of Walker's Point is industrial, there are small pockets of residential homes, mainly located on the eastern edges of the neighborhood. It's a particularly friendly area for Milwaukee's LGBT community, and boasts some of the hottest nightlife in the city.
New condominium complexes, office and retail developments continue to build up this historic, industrial area and generate excitement for this neighborhood on the rise. It's only a matter of time before the Walker's Point/ Fifth Ward is not only a neighbor, but a rival to the highly credited Third Ward neighborhood, separated only the the waters of the Milwaukee River.
If you're not sure how much an apartment will cost, the table below shows the average price by size.
Welcome to the January 2021 Milwaukee Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the January 2021 key findings and figures for the Milwaukee rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Milwaukee and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Milwaukee rent prices in the chart below.
Milwaukee rent prices decreased over the last month. From December to January, the city experienced a -1.15% decrease for the price of a one-bedroom apartment. The rent price for a Milwaukee one-bedroom apartments currently stands at $1,287.0.
When we take a look at the two-bedroom comparison from December to January, Milwaukee experienced a 1.26% increase for the price of a two-bedroom apartment. The rent price for a Milwaukee two-bedroom apartments currently stands at $1,441.0.
Rent prices have decreased in Milwaukee over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Milwaukee suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Waukesha, WI, Menomonee Falls, WI, Franklin, WI .
Rent decreased in Brookfield, WI, Wauwatosa, WI, Oak Creek, WI, West Allis, WI.
2 suburbs are currently priced higher than the city of Milwaukee.
5 suburbs are currently priced lower than the city of Milwaukee.
Rent growth in Milwaukee over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Milwaukee rent prices appear to be relatively affordable for local residents.
The price for a Milwaukee one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of Rentable's January 2021 National Apartment Report and data set here.
For more information about Milwaukee and surrounding area rent prices, take a look at the complete data set below.
|1 BR January||1 BR M/M % Change||2 BR January||2 BR M/M % Change|
|Oak Creek, WI||$1,181.0||-2.40%||$1,491.0||-3.06%|
|Menomonee Falls, WI||$1,275.0||0.08%||$1,531.0||0.00%|
|West Allis, WI||$1,080.0||-1.46%||$1,316.0||-9.80%|
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.