MILWAUKEE — Milwaukee had one of the most competitive rental housing markets in the U.S. in 2022, according to a new report from RentCafe.com.
The apartment search website found that Milwaukee had the 6th most competitive rental market in the U.S. in 2022.
The top market for rental housing according to the report is Miami-Dade County, Florida, followed by:
- Grand Rapids, MI
- Orlando, FL
- Harrisburg, PA
- North Jersey, NJ
- (With Milwaukee in 6th)
The rankings are based on apartment occupancy rates, lease renewal rates, average total days vacant and prospective rents per vacant unit.
An average of 19 prospective renters are competing for each vacant Milwaukee apartment; that's compared to 14 renters nationally, according to the report.
Milwaukee's apartment occupancy rate was around 96 percent, compared with 95 percent nationally. Milwaukee's lease renewal rate was 69 percent compared with 63 percent nationally.
Vacant Milwaukee units were filled in 29 days compared with 32 nationally, on average, the website found.
