Renting in Milwaukee costs about $1,210 a month, and the typical home is listed at $217,000. That puts the price-to-rent ratio at 14.9: a typical home costs as much as 14.9 years of rent.
Milwaukee now and in 2031
| Now | 2031 (projected) | |
|---|---|---|
| Typical asking rent | $1,210/mo | $1,425/mo |
| Typical list price | $217,000 | $309,000 |
| Price-to-rent ratio | 14.9 | — |
Rent is projected at +3.4% a year, the trend in RentCast's median rents for these ZIP codes since mid-2024. For home values: The first 2 years follow this year's change in list prices (+3.8%); later years use the Federal Housing Finance Agency's house price index average for these ZIP codes from 2020 to 2025 (+9.8% a year). These are trends carried forward, not predictions of the next market turn.
How to read the price-to-rent ratio
The ratio divides the typical list price by a year of typical rent. A higher ratio means buying is expensive relative to renting; a lower one means monthly rent is high compared with what a home costs. It's a quick way to compare cities, not a verdict for your situation.
By ZIP code
| ZIP | Median rent | Rental listings | Median list price | Sale listings |
|---|---|---|---|---|
| 53215 | $995/mo | 64 | $240,000 | 102 |
| 53209 | $1,350/mo | 100 | $162,000 | 220 |
| 53218 | $1,300/mo | 93 | $174,000 | 164 |
| 53204 | $1,045/mo | 99 | $225,900 | 52 |
| 53221 | $1,385/mo | 52 | $299,000 | 114 |
| 53219 | $1,198/mo | 71 | $275,000 | 124 |
What this doesn't account for
Mortgage rates, your down payment, property taxes, insurance, HOA fees, maintenance, and how long you'll stay decide more than any city-wide figure. These are area numbers built from active listings; they don't know the specific home or your finances.
Source: RentCast market data for 6 of Milwaukee's 21 ZIP codes (the most populous, home to 45% of residents in the city's ZIP codes, per the Census Bureau's ACS 2023). A ZIP counts only with at least 20 active listings. Retrieved October 15, 2026. Figures are listing-weighted averages of ZIP medians, not an appraisal. How Predictye calculates this.
Frequently asked questions
How much is rent in Milwaukee, WI?
Typical asking rent is $1,210 a month, across 479 active rental listings in 6 ZIP codes.
How much do homes cost in Milwaukee, WI?
The typical list price is $217,000, across 776 active sale listings in 6 ZIP codes. List prices are asking prices, not final sale prices.
What is the price-to-rent ratio in Milwaukee, WI?
About 14.9: the typical list price equals 14.9 years of typical rent. The higher the ratio, the more buying costs relative to renting.