Insights
Wisconsin
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BACK TO INSIGHTSEXPLORE 3 Wisconsin MARKETSToggle markets
VACANCY
Apartment
Average Vacancy Rate 5.7%
- Drifted downward by 10 basis points.
- Expected to finish 2021 at 5.5%.
Distribution / Warehousing
Average Vacancy Rate 13.7%
- Drifted upward by 10 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 13.4%.
Flex / R&D
Average Vacancy Rate 13.1%
- Drifted downward by 10 basis points.
- Among the 10 highest vacancies nationally.
- Expected to finish 2021 at 13.7%.
Office
Average Vacancy Rate 19.1%
- Increased by 60 basis points.
- Highest level since Q1 2011.
- Expected to finish 2021 at 19.8%.
Retail
Average Vacancy Rate 12.5%
- No change since year-end 2020.
- Highest level since Q1 2019.
- Expected to finish 2021 at 14.3%.
RENT
Apartment
Average Asking Rent $1,471
- Down 0.4% from year-end 2020.
- Expected to finish 2021 at $1,500.
Distribution / Warehousing
Average Asking Rent $5.38
- Flat since year-end 2020.
- Expected to finish 2021 at $5.49.
Flex / R&D
Average Asking Rent $8.52
- Up 0.6% from year-end 2020.
- Expected to finish 2021 at $8.52.
Office
Average Asking Rent $32.16
- Flat since year-end 2020.
- Expected to finish 2021 at $31.44.
Retail
Average Asking Rent $20.80
- Up 0.1% from year-end 2020.
- Expected to finish 2021 at $19.75.
VACANCY
Apartment
Average Vacancy Rate 4.7%
- Drifted downward by 10 basis points.
- Lowest level since Q2 2017.
- Expected to finish 2021 at 4.7%.
Distribution / Warehousing
Average Vacancy Rate 16.3%
- Rose by 60 basis points.
- Among the 10 highest vacancies nationally.
- Expected to finish 2021 at 15.7%.
Office
Average Vacancy Rate 22.6%
- Increased by 80 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 22.9%.
Retail
Average Vacancy Rate 13.6%
- Drifted downward by 10 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 15.6%.
RENT
Apartment
Average Asking Rent $1,129
- Down 0.2% from year-end 2020.
- Expected to finish 2021 at $1,151.
Distribution / Warehousing
Average Asking Rent $4.80
- Up 0.6% from year-end 2020.
- Fastest rate of increase since Q2 2017.
- Expected to finish 2021 at $4.86.
Office
Average Asking Rent $20.47
- Fastest rent growth in the Midwest region, fourth most rapid in the nation.
- Expected to finish 2021 at $19.96.
Retail
Average Asking Rent $16.18
- Fastest rent growth in the Midwest region, sixteenth most rapid in the nation.
- Expected to finish 2021 at $15.62.
VACANCY
Apartment
Average Vacancy Rate 5.8%
- Has risen for seven consecutive quarters.
- Highest level since Q2 2005.
- Expected to finish 2021 at 5.4%.
Distribution / Warehousing
Average Vacancy Rate 9.2%
- Fell by 90 basis points.
- Lowest level since year-end 2009.
- Expected to finish 2021 at 9.4%.
Flex / R&D
Average Vacancy Rate 12.5%
- Declined by 110 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 13.0%.
Office
Average Vacancy Rate 19.9%
- Increased by 80 basis points.
- Highest level since year-end 1993.
- Expected to finish 2021 at 21.0%.
Retail
Average Vacancy Rate 11.0%
- No change since year-end 2020.
- Highest level since year-end 2015.
- Expected to finish 2021 at 12.8%.
RENT
Apartment
Average Asking Rent $1,338
- Down 0.3% from year-end 2020.
- Expected to finish 2021 at $1,370.
Distribution / Warehousing
Average Asking Rent $6.52
- Up 0.8% from year-end 2020.
- Fastest rate of increase in six quarters.
- Expected to finish 2021 at $6.62.
Flex / R&D
Average Asking Rent $8.88
- Up 0.6% from year-end 2020.
- Fastest rate of increase in five quarters.
- Expected to finish 2021 at $8.88.
Office
Average Asking Rent $25.48
- Down 0.1% from year-end 2020.
- Expected to finish 2021 at $25.02.
Retail
Average Asking Rent $19.28
- Down 0.3% from year-end 2020.
- Expected to finish 2021 at $18.64.