Real Estate Investing in Berlin, Wisconsin (54923)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 54923 (Berlin, 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: 10.0% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Berlin, WI (54923)?
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Market Analysis: 54923 Berlin
Meanwhile, ZIP 54923 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $255K median. It rewards specialists, not generalists.
The investment case in 54923 is notable only for operators who understand what they are buying. A $255K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
On the rental side, 54923 offers a low basis, the region around Berlin has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A notable renter share of 26% in 54923 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Berlin:
Property Strategy for 54923
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $232,858 | $1,270 | 3.9% | +10.6% | $77,619 |
| 4BR | $251,023 | $1,430 | 4.1% | +9.9% | $62,756 |
Market Trends
Home Value History (with trend line)
📊 How Does 54923 Compare?
| Metric | 54923 | Berlin | Wisconsin |
|---|---|---|---|
| Home Value | $255,195 | $255,195 | $320,446 |
| 5-Year CAGR | 8.1% | 8.1% | 7.3% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 2.8% | 2.8% | - |
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 54923 (Berlin, WI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $255,195 |
| Monthly Rent | $918 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +9.8% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 54923
Population: 8,850
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 54923
Schools in This ZIP Code
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 tenants rent in Berlin, WI?
Berlin, WI offers a steady renter base at the $918/mo rent level. Tenant turnover is reasonable for well-managed properties.
What is the rental occupancy rate in Berlin, WI?
Berlin, WI vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How expensive is real estate in Berlin, WI?
Median home price in Berlin, WI is near $255K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
Is Berlin, WI a friendly market for rental owners?
For rental operators, Berlin, WI rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Which investment style suits Berlin, WI?
A careful cash-flow rentals with hands-on management strategy Berlin, WI best. The market produces steady results for that approach at the $255K price point.
You know 54923 now. You don’t know where it ranks.
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