Luxe housing is pushing prices up.
MILWAUKEE’S BARGAIN-BASEMENT rental rates, a big part of what makes the city attractive to outsiders, are showing signs of change. The high-end apartment boom (expected to add more than 3,800 new units in 2017) is also driving up apartment rents to the tune of about 5 percent a year on average, according to Brookfield real estate firm Marcus and Millichap, with greater increases cropping up in hot neighborhoods. Nowadays the average apartment, across all sizes and places, goes for slightly more than $1,000 a month.
Northwestern Mutual’s luxury high-rise apartments, 7Seventy7, under construction