Insights
Wisconsin
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VACANCY
Apartment
The average Vacancy Rate was 4.7% in the Chicago metro
- No vacancy change since Q2 2022 in the Chicago metro.
- The Chicago metro had the lowest vacancy level since Q3 2017.
- Vacancy is expected to finish 2022 at 4.6% in the Chicago metro.
Distribution / Warehousing
The average Vacancy Rate was 4.0% in the Chicago metro
- Vacancy in the Chicago metro has been in decline for six consecutive quarters.
- The Chicago metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 3.3% in the Chicago metro.
Flex / R&D
The average Vacancy Rate was 5.4% in the Chicago metro
- The Chicago metro had the tenth lowest vacancy in the nation and the twelfth lowest in the Midwest.
- Vacancy in the Chicago metro declined by 100 basis points.
- The Chicago metro had the lowest vacancy level since Q3 2009.
Office
The average Vacancy Rate was 17.6% in the Chicago metro
- Vacancy in the Chicago metro drifted upward by 20 basis points.
- The Chicago metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 17.8% in the Chicago metro.
Retail
The average Vacancy Rate was 12.4% in the Chicago metro
- Vacancy in the Chicago metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 12.3% in the Chicago metro.
RENT
Apartment
The average Asking Rent was $1,791 in the Chicago metro
- Rent in the Chicago metro was up 2.4% from Q2 2022.
- Rent is expected to finish 2022 at $1,802 in the Chicago metro.
Distribution / Warehousing
The average Asking Rent was $6.09 in the Chicago metro
- Rent in the Chicago metro was up 2.4% from Q2 2022.
- Rent Has risen for nine consecutive quarters in the Chicago metro.
- Rent is expected to finish 2022 at $6.22 in the Chicago metro.
Flex / R&D
The average Asking Rent was $9.56 in the Chicago metro
- Rent in the Chicago metro was up 2.6% from Q2 2022.
- Rent Has risen for eight consecutive quarters in the Chicago metro.
- Rent is expected to finish 2022 at $9.76 in the Chicago metro.
Office
The average Asking Rent was $32.35 in the Chicago metro
- The Chicago metro had the fastest rent growth in the nation.
- Chicago metro had its fastest rent rate of increase in ten quarters.
- Rent is expected to finish 2022 at $32.47 in the Chicago metro.
Retail
The average Asking Rent was $20.83 in the Chicago metro
- Rent in the Chicago metro was up 0.1% from Q2 2022.
- Rent is expected to finish 2022 at $20.87 in the Chicago metro.
VACANCY
Apartment
The average Vacancy Rate was 3.5% in the Milwaukee metro
- Vacancy in the Milwaukee metro drifted upward by 10 basis points.
- The Milwaukee metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 3.6% in the Milwaukee metro.
Distribution / Warehousing
The average Vacancy Rate was 5.8% in the Milwaukee metro
- Vacancy in the Milwaukee metro has been in decline for six consecutive quarters.
- The Milwaukee metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 5.1% in the Milwaukee metro.
Office
The average Vacancy Rate was 23.1% in the Milwaukee metro
- Vacancy in the Milwaukee metro drifted upward by 20 basis points.
- The Milwaukee metro had the highest vacancy level since year-end 1993.
- Vacancy is expected to finish 2022 at 23.0% in the Milwaukee metro.
Retail
The average Vacancy Rate was 12.6% in the Milwaukee metro
- Vacancy in the Milwaukee metro fell by 60 basis points.
- The Milwaukee metro had the lowest vacancy level since Q1 2018.
- Vacancy is expected to finish 2022 at 12.8% in the Milwaukee metro.
RENT
Apartment
The average Asking Rent was $1,321 in the Milwaukee metro
- Rent in the Milwaukee metro was up 2.5% from Q2 2022.
- Rent Has risen for six consecutive quarters in the Milwaukee metro.
- Rent is expected to finish 2022 at $1,328 in the Milwaukee metro.
Distribution / Warehousing
The average Asking Rent was $5.21 in the Milwaukee metro
- Rent in the Milwaukee metro was up 1.8% from Q2 2022.
- Milwaukee metro had its fastest rent rate of increase in four quarters.
- Rent Has risen for seven consecutive quarters in the Milwaukee metro.
Office
The average Asking Rent was $20.75 in the Milwaukee metro
- Rent in the Milwaukee metro was up 0.1% from Q2 2022.
- Rent is expected to finish 2022 at $20.88 in the Milwaukee metro.
Retail
The average Asking Rent was $16.20 in the Milwaukee metro
- Rent in the Milwaukee metro was down 0.1% from Q2 2022.
- Rent is expected to finish 2022 at $16.22 in the Milwaukee metro.
VACANCY
Apartment
The average Vacancy Rate was 6.9% in the Minneapolis metro
- No vacancy change since Q2 2022 in the Minneapolis metro.
- The Minneapolis metro had the highest vacancy level since Q1 2004.
- Vacancy is expected to finish 2022 at 6.8% in the Minneapolis metro.
Distribution / Warehousing
The average Vacancy Rate was 3.0% in the Minneapolis metro
- The Minneapolis metro had the seventh lowest vacancy in the nation and the sixth lowest in the Midwest.
- Vacancy in the Minneapolis metro has been in decline for nine consecutive quarters.
- The Minneapolis metro had the lowest vacancy level since Q3 2009.
Flex / R&D
The average Vacancy Rate was 5.8% in the Minneapolis metro
- Vacancy in the Minneapolis metro has been in decline for seven consecutive quarters.
- The Minneapolis metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 5.2% in the Minneapolis metro.
Office
The average Vacancy Rate was 21.4% in the Minneapolis metro
- Vacancy in the Minneapolis metro increased by 80 basis points.
- The Minneapolis metro had the highest vacancy level since year-end 1993.
- Vacancy is expected to finish 2022 at 21.4% in the Minneapolis metro.
Retail
The average Vacancy Rate was 10.4% in the Minneapolis metro
- Vacancy in the Minneapolis metro drifted downward by 20 basis points.
- The Minneapolis metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 10.4% in the Minneapolis metro.
RENT
Apartment
The average Asking Rent was $1,443 in the Minneapolis metro
- Rent in the Minneapolis metro was down 1.2% from Q2 2022.
- Rent is expected to finish 2022 at $1,451 in the Minneapolis metro.
Distribution / Warehousing
The average Asking Rent was $6.91 in the Minneapolis metro
- Rent in the Minneapolis metro was up 1.3% from Q2 2022.
- Rent Has risen for nine consecutive quarters in the Minneapolis metro.
- Rent is expected to finish 2022 at $6.98 in the Minneapolis metro.
Flex / R&D
The average Asking Rent was $9.22 in the Minneapolis metro
- Rent in the Minneapolis metro was up 1.3% from Q2 2022.
- Minneapolis metro had its fastest rent rate of increase since Q3 2009.
- Rent Has risen for nine consecutive quarters in the Minneapolis metro.
Office
The average Asking Rent was $26.16 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.2% from Q2 2022.
- Rent is expected to finish 2022 at $26.26 in the Minneapolis metro.
Retail
The average Asking Rent was $19.34 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.1% from Q2 2022.
- Rent is expected to finish 2022 at $19.42 in the Minneapolis metro.