Insights
Wisconsin
BACK TO INSIGHTSMarket Overview
BACK TO INSIGHTSEXPLORE 3 Wisconsin MARKETSToggle markets
VACANCY
Apartment
The average Vacancy Rate was 5.1% in the Chicago metro
- Vacancy in the Chicago metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 5.1% in the Chicago metro.
Distribution / Warehousing
The average Vacancy Rate was 5.2% in the Chicago metro
- The Chicago metro had the tenth lowest vacancy in the nation and the ninth lowest in the Midwest.
- Vacancy in the Chicago metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2024 at 5.1% in the Chicago metro.
Flex / R&D
The average Vacancy Rate was 5.9% in the Chicago metro
- The Chicago metro had the fourth lowest vacancy in the nation and the sixth lowest in the Midwest.
- No vacancy change since year-end 2023 in the Chicago metro.
- Vacancy is expected to finish 2024 at 5.7% in the Chicago metro.
Office
The average Vacancy Rate was 18.1% 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 drifted upward by 10 basis points.
- Vacancy is expected to finish 2024 at 18.6% in the Chicago metro.
Retail
The average Vacancy Rate was 13.0% in the Chicago metro
- No vacancy change since year-end 2023 in the Chicago metro.
- The Chicago metro had the highest vacancy level since year-end 1994.
- Vacancy is expected to finish 2024 at 12.6% in the Chicago metro.
RENT
Apartment
The average Asking Rent was $1,833 in the Chicago metro
- The Chicago metro remained flat rent since year-end 2023.
- Rent is expected to finish 2024 at $1,871 in the Chicago metro.
Distribution / Warehousing
The average Asking Rent was $6.67 in the Chicago metro
- Rent in the Chicago metro was up 0.5% from year-end 2023.
- Rent has risen in every quarter since Q2 2020 in the Chicago metro.
- Rent is expected to finish 2024 at $6.88 in the Chicago metro.
Flex / R&D
The average Asking Rent was $10.13 in the Chicago metro
- Rent in the Chicago metro was up 0.6% from year-end 2023.
- Rent has risen in every quarter since Q3 2020 in the Chicago metro.
- Rent is expected to finish 2024 at $10.51 in the Chicago metro.
Office
The average Asking Rent was $32.61 in the Chicago metro
- Rent in the Chicago metro was up 0.2% from year-end 2023.
- Rent is expected to finish 2024 at $32.89 in the Chicago metro.
Retail
The average Asking Rent was $20.95 in the Chicago metro
- Rent in the Chicago metro was up 0.1% from year-end 2023.
- Rent is expected to finish 2024 at $21.14 in the Chicago metro.
VACANCY
Apartment
The average Vacancy Rate was 3.7% in the Milwaukee metro
- The Milwaukee metro had the eighth lowest vacancy in the nation and the ninth lowest in the Midwest.
- Vacancy in the Milwaukee metro drifted downward by 20 basis points.
- Vacancy is expected to finish 2024 at 3.9% in the Milwaukee metro.
Distribution / Warehousing
The average Vacancy Rate was 8.4% in the Milwaukee metro
- Vacancy in the Milwaukee metro rose by 130 basis points.
- Vacancy is expected to finish 2024 at 7.7% in the Milwaukee metro.
Office
The average Vacancy Rate was 24.1% in the Milwaukee metro
- Vacancy in the Milwaukee metro drifted downward by 30 basis points.
- Vacancy is expected to finish 2024 at 24.2% in the Milwaukee metro.
Retail
The average Vacancy Rate was 12.5% in the Milwaukee metro
- Vacancy in the Milwaukee metro drifted downward by 10 basis points.
- The Milwaukee metro had the lowest vacancy level since Q1 2018.
- Vacancy is expected to finish 2024 at 12.3% in the Milwaukee metro.
RENT
Apartment
The average Asking Rent was $1,366 in the Milwaukee metro
- Rent in the Milwaukee metro was down 0.1% from year-end 2023.
- Rent is expected to finish 2024 at $1,392 in the Milwaukee metro.
Distribution / Warehousing
The average Asking Rent was $5.61 in the Milwaukee metro
- The Milwaukee metro had the second fastest rent growth in the nation, behind only Rochester.
- Rent has risen in every quarter since year-end 2020 in the Milwaukee metro.
- Rent is expected to finish 2024 at $5.75 in the Milwaukee metro.
Office
The average Asking Rent was $20.87 in the Milwaukee metro
- Rent in the Milwaukee metro was up 0.3% from year-end 2023.
- Rent is expected to finish 2024 at $20.97 in the Milwaukee metro.
Retail
The average Asking Rent was $16.35 in the Milwaukee metro
- Rent in the Milwaukee metro was up 0.4% from year-end 2023.
- Rent is expected to finish 2024 at $16.48 in the Milwaukee metro.
VACANCY
Apartment
The average Vacancy Rate was 8.1% in the Minneapolis metro
- No vacancy change since year-end 2023 in the Minneapolis metro.
- The Minneapolis metro had the highest vacancy level since year-end 1993.
- Vacancy is expected to finish 2024 at 8.1% in the Minneapolis metro.
Distribution / Warehousing
The average Vacancy Rate was 5.5% in the Minneapolis metro
- Vacancy in the Minneapolis metro drifted upward by 40 basis points.
- The Minneapolis metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 5.2% in the Minneapolis metro.
Flex / R&D
The average Vacancy Rate was 6.3% in the Minneapolis metro
- The Minneapolis metro had the seventh lowest vacancy in the nation and the ninth lowest in the Midwest.
- No vacancy change since year-end 2023 in the Minneapolis metro.
- Vacancy is expected to finish 2024 at 6.0% in the Minneapolis metro.
Office
The average Vacancy Rate was 22.6% in the Minneapolis metro
- Vacancy in the Minneapolis metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 23.1% in the Minneapolis metro.
Retail
The average Vacancy Rate was 11.0% in the Minneapolis metro
- The Minneapolis metro had the tenth lowest vacancy in the nation and the twelfth lowest in the Midwest.
- No vacancy change since year-end 2023 in the Minneapolis metro.
- Vacancy is expected to finish 2024 at 10.9% in the Minneapolis metro.
RENT
Apartment
The average Asking Rent was $1,480 in the Minneapolis metro
- Rent in the Minneapolis metro was down 0.4% from year-end 2023.
- Rent is expected to finish 2024 at $1,508 in the Minneapolis metro.
Distribution / Warehousing
The average Asking Rent was $7.39 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.8% from year-end 2023.
- Rent has risen in every quarter since Q2 2020 in the Minneapolis metro.
- Rent is expected to finish 2024 at $7.58 in the Minneapolis metro.
Flex / R&D
The average Asking Rent was $9.78 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.5% from year-end 2023.
- Rent has risen in every quarter since Q2 2020 in the Minneapolis metro.
- Rent is expected to finish 2024 at $10.02 in the Minneapolis metro.
Office
The average Asking Rent was $27.08 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.4% from year-end 2023.
- Rent Has risen for ten consecutive quarters in the Minneapolis metro.
- Rent is expected to finish 2024 at $27.43 in the Minneapolis metro.
Retail
The average Asking Rent was $19.58 in the Minneapolis metro
- The Minneapolis metro had the fastest rent growth in the nation.
- Rent is expected to finish 2024 at $19.78 in the Minneapolis metro.