Report: Rent in Milwaukee Skyrocketed Between June and July
Milwaukee real estate prices are on the rise. According to a new report that analyzed apartment listings in major U.S. cities from June to July of this year, Milwaukee saw the highest average increase in the country.
One bedroom rental listings went from an average of $880 in June to just over $1,000 in July. That's an increase of 15%.
The report was released by ABODO, a Madison-based company that provides real estate listings for apartment hunters.
Milwaukee-native Sam Radbil is one of the authors of ABODO's monthly reports. Radbil says that growing up in Milwaukee, he never saw a change in the skyline. He believes Milwaukee is undergoing a transformation.
"Things are growing, the city's growing, unlike a lot of us who grew up there have ever seen before," says Radbil. "That explosion in development is great for the city, and Milwaukee is lucky enough to be a city that people are moving to and the supply and demand are meeting each other."