Real Estate Investing in Milwaukee, Wisconsin (53224)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 53224 (Milwaukee, WI)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.1% vacancy may signal weakening demand.
- Elevated poverty: 21.0% poverty rate — can affect rent collection.
What’s happening in Milwaukee, WI (53224)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 53224 Milwaukee
This part of Milwaukee County is not an easy win. The 53224 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Stepping back, the numbers look inviting — $248K purchase price, 0.0% nominal cap — the work to hit that pro forma in 53224 is substantial and deserves full respect.
Statewide comparisons place 53224 among WI's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The demographic picture in 53224 includes headwinds that any investor should price in. Income distribution skews lower than Milwaukee averages, and tenant stability requires active management.
New investors are better served looking at Milwaukee's stable or hybrid ZIPs before stepping into 53224. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Milwaukee:
Property Strategy for 53224
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $130,334 | $1,400 | 7.7% | +7.2% | $65,167 |
| 3BR | $231,172 | $1,720 | 5.4% | +9.2% | $77,057 |
| 4BR | $322,914 | $1,870 | 4.2% | +8.2% | $80,729 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 53224 Compare?
| Metric | 53224 | Milwaukee | Milwaukee-Waukesha, WI | Wisconsin |
|---|---|---|---|---|
| Home Value | $248,061 | $220,617 | N/A | $320,446 |
| 5-Year CAGR | 7.5% | 6.6% | N/A | 7.3% |
| Avg Rent | $1,448 | $1,381 | N/A | - |
| Cap Rate | 4.6% | 5.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 53224 (Milwaukee, WI). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 53224 (Milwaukee, WI)?
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Property managers serving Milwaukee County
Manage rentals here? List your business →Bodner Properties offers great apartments for rent in the Greater Milwaukee area. summary from their website
Home Path Property Management offers home rentals, build-to-rent options, and vacation rentals in the Milwaukee Area. summary from their website
MPC Property Management offers a wide range of property management services for residential, commercial, and association properties in Wisconsin. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $248,061 |
| Monthly Rent | $1,448 |
| Price-to-Rent | 14.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.0% |
| Cap Rate | 4.6% |
| 5-Year IRR | 12.1% |
📈 Home Appreciation
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +7.4% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +9.2% ▲ |
🏠 Rent Trends
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 53224
Population: 21,445
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 53224
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Brown Deer Middle/High
Brown Deer Elementary
Milwaukee Sign Language Elementary
Barton Elementary
Thoreau Elementary
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What kind of market is Milwaukee, WI for investors?
Milwaukee, WI scores 3.0/5 for investability. Home values sit at $248K and rents near $1,448/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What is the typical home price in Milwaukee, WI?
The median home value in Milwaukee, WI is roughly $248K. That puts it reasonable relative to the WI statewide average.
What are rental rates like in Milwaukee, WI?
Milwaukee, WI rentals go for roughly $1,448/mo a month. That puts gross yield in solid territory relative to $248K acquisition costs.
Are there empty rentals in Milwaukee, WI?
Milwaukee, WI carries elevated vacancy risk. Expect predictable absorption at market rents of $1,448/mo.
What is the renter demographic in Milwaukee, WI?
The renter base in Milwaukee, WI is reasonable for the $1,448/mo price point. Screening well and pricing to market typically yields stable tenants.
You know 53224 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 53224 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 53224 ranks in Milwaukee-Waukesha, WI
Every ZIP in this metro, ranked. Free.
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