Last updated on June 21st, 2023
where to invest in milwaukee
Key Takeaway
• Milwaukee has 913 Airbnb listings. And with the right tool, you can dive deep into specific areas for you to check their profitability. Where to invest in Milwaukee? This article will answer it with numbers.
Introduction
Milwaukee is home to 30 world-class museums. But aside from its cultural aspect, it can also be a great city for short-term rentals. Fortunately, you can use modern technology such as short-term rental data analytics in finding the best neighborhoods for your future Milwaukee real estate investment.
Is Milwaukee a good place to own rental property?
The cost of buying a property in Milwaukee is very competitive at just $172,782. The price is 52.8% lower than the US median property price of $327,514. Other factors also play perfectly well in favor of owning a Milwaukee real estate investment.
Aside from its proximity to Chicago and Minneapolis, Milwaukee is the most STR-friendly city. These things matter. Aside from US short-term rental regulations varying depending on the city, local short-term rental areas can be unpredictable due to ever-changing regulations. So, just imagine owning a rental property in Wisconsin. All you need to do so pay the appropriate taxes in a market that does not restrict short-term rentals.
Is Airbnb profitable in Milwaukee?
According to Airbtics Data, a resounding yes! Milwaukee is a vibrant Airbnb market with 913 listings. A host owning a 3-bedroom unit with an average occupancy rate of 56% can earn $40,074 in annual revenue. To manage everyone’s expectations, these figures will change depending on the property size and location.
Top Airbnb Investment Areas in Milwaukee
The powerful Airbtics Dashboard finds that the following neighborhoods can be tapped for short-term rentals in Milwaukee.
1. Lower East Side
- Total Airbnb Listings: 117 properties
- Best Property Size: 5 bedrooms
- Property Price: $419,900
- Annual Occupancy Rate: 57%
- Annual Revenue: $107,699
- Gross Rental Yield: 25.65%
2. Bay View
- Total Airbnb Listings: 109 properties
- Best Property Size: 4 bedrooms
- Property Price: $269,500
- Annual Occupancy Rate: 67%
- Annual Revenue: $74,321
- Gross Rental Yield: 27.58%
3. Harbor View – Walker’s Point
- Total Airbnb Listings: 53 properties
- Best Property Size: 1 bedroom
- Property Price: $175,000
- Annual Occupancy Rate: 55%
- Annual Revenue: $28,473
- Gross Rental Yield: 16.27%
4. Upper East Side – Murray Hill
- Total Airbnb Listings: 41 properties
- Best Property Size: 3 bedrooms
- Property Price: $319,000
- Annual Occupancy Rate: 77%
- Annual Revenue: $54,647
- Gross Rental Yield: 17.13%
5. Brewer’s Hill
- Total Airbnb Listings: 27 properties
- Best Property Size: 3 bedrooms
- Property Price: $250,000
- Annual Occupancy Rate: 76%
- Annual Revenue: $37,745
- Gross Rental Yield: 15.1%
Can’t find the right Airbnb market for you? Look beyond Milwaukee and see the Best Places to Airbnb in Wisconsin!
Conclusion
While Milwaukee is already an Airbnb market, we have learned that the city can be segmented into smaller markets by using the right tools such as Airbtics’ Custom Market. The property price in Milwaukee is enough reason to go for it. But in this article, we have found the earning potential of our potential neighborhoods to help you seal the deal in your short-term rental venture in Milwaukee.
Don’t just wing your short-term rental pricing. Check our free Airbnb profit estimator to make sure you’re doing it right!
From eying a prospective market to optimized pricing, rely on Airbtics for easy and accurate short-term rental data analytics!
