Areas to Start in Milwaukee

Milwaukee, Wisconsin
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Areas to Start in Milwaukee

Jacob Palumbo
Member since 2025 · 2 posts · 1 vote

Hi all,

I'm new to real estate investing and looking to purchase my first buy-and-hold rental property in the greater Milwaukee area. I’m new to the city (but planning to stay long-term!), and I’m still getting to know the local neighborhoods. From what I’ve gathered so far, the areas can vary quite a bit from block to block, which has made me want to dig deeper into where it makes the most sense to invest.

I’ve saved up enough to comfortably purchase a more affordable rental property in the northwest part of Milwaukee, where the cash flow looks promising. However, I do recognize that properties in these areas are probably less expensive for a reason, and I want to be cautious about potential risks.

If anyone has experience investing in Milwaukee, I’d love to hear your insights! Are there specific areas you’d recommend for affordable rental properties? Where did/would you start?

Thanks so much in advance!

1Reply
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Bryan Bishop
Investor · Milwaukee · Member since 2018 · 1 post · 3 votes
1y

Hi @Jacob Palumbo, I think location depends on your strategy. There are good buys in the Milwaukee market, but it depends on what lens your looking at them through. Do you want low energy and time investment? -> look at surrounding suburbs and a property that's been maintained, do some cosmetic updates and rent out long term. If you want to maximize your return and are willing to put in the work, you might consider medium or short term rentals in an area closer to downtown ex. Brady street, Fifth ward, Bayview. 

I personally buy and hold long term rentals in the West Allis, Greenfield, and Wauwatosa neighborhoods. My properties are around the median price for a duplex. I have updated them to attract the best tenants and higher end of rents. This strategy has worked very well for me over the last 7 years.

While managing my own rentals, I am also a licensed realtor. If you have more questions about specific neighbor hoods, DM me. Happy to hop on a call.

Good luck!

 

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  • Matthew Becker
    Developer · Moscow Idaho · Member since 2024 · 224 posts · 143 votes
    1y

    My brother is a realtor in Milwaukee.  He does not invest there and sends money to invest out of state with me in Idaho.  Milwaukee is a bit of a tax hell, and rent is not high.  But if I were to invest in Milwaukee, I would focus on doing value ads for both universities.    Rent by the room to college kids.  I would guess they pay $600 to $800 a bedroom.  Especially MQ kids, they have more money.  

    Your numbers are way better in places like Plattville, and the smaller college towns are better.  My sister invests a lot there.  No competition.  

    A listing a few blocks from campus is 5BR 2BA 2500 sqft.  $250K  You should be able to convert a formal dining room to a bedroom and add a bathroom for better ratios.  $20K cost.  $270K loan payment $2K.  6 x 600 = $3600 new value probably $400K plus.  If you buy it you owe me a beer and not crappy Wisconsin beer.  That took 5 minutes of research.  There are deals everywhere, and you hit better than the 1% rule, which people say is impossible.   Look at that: I just made you $100K in 5 minutes,  now go kill and eat.  

    845 North 22nd STREET, Milwaukee, WI 53233
    0Reply
  • Matthew Becker
    Developer · Moscow Idaho · Member since 2024 · 224 posts · 143 votes
    1y

    Just to add, Milwaukee is weird.  This could be two blocks in the wrong direction and someone will shoot you in the head for a sandwich.  So try Plattville. 

    0Reply
    • Jacob Palumbo
      OP
      Member since 2025 · 2 posts · 1 vote
      1y

      @Matthew Becker Thanks for the insights, and yeah this was essentially my thoughts. The prospect and cash flow looks great, but I know how block-to-block Milwaukee can be. I'll look into Plattville.

      0Reply
    • Charles ClarkBusiness Member
      Real Estate Broker · Milwaukee, WI · Member since 2020 · 306 posts · 209 votes
      3w

      Is this from experience or from what you hear watching Fox News? Even though this post is over a year old, I think it is very disrespectful of you to write this about Milwaukee. As every city in the United States, you can probably go two blocks the wrong way and bad things could happen. It is people like you why neighborhoods can not receive the investments it needs to become a better place to live.

      As your mother probably taught you, "If you don't have something nice to say, don't say anything at all."

      I love my city and if you check the numbers, it is one of the top cities to invest in. So remove your emotions and look at the numbers.

      [email protected]414-719-6090
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  • Matthew Becker
    Developer · Moscow Idaho · Member since 2024 · 224 posts · 143 votes
    1y

    Also all the other little college towns in Wisconsin.   My sister gets 500 a bedroom and you can buy a house for under 200k 

    0Reply
  • Gregory Chadwell
    Real Estate Broker · Milwaukee, WI · Member since 2015 · 299 posts · 90 votes
    1y


    Quote from @Jacob Palumbo:

    Hi all,

    I'm new to real estate investing and looking to purchase my first buy-and-hold rental property in the greater Milwaukee area. I’m new to the city (but planning to stay long-term!), and I’m still getting to know the local neighborhoods. From what I’ve gathered so far, the areas can vary quite a bit from block to block, which has made me want to dig deeper into where it makes the most sense to invest.

    I’ve saved up enough to comfortably purchase a more affordable rental property in the northwest part of Milwaukee, where the cash flow looks promising. However, I do recognize that properties in these areas are probably less expensive for a reason, and I want to be cautious about potential risks.

    If anyone has experience investing in Milwaukee, I’d love to hear your insights! Are there specific areas you’d recommend for affordable rental properties? Where did/would you start?

    Thanks so much in advance!

    Ive been a property owner in milwaukee for 30 years now.  I like the stablility of the renters and yes the taxes are pretty high but the rents are more than adequate to cover them.  Like most cities there are good and bad areas too.  The reason i didn't go with university rentals is
    turnover and having to rerent each year which is quite bothersome.  I bet the units need quite a bit of repair too during turnover too...
    Just adding my 2 cents to the conversation.   
    0Reply
  • Matthew Becker
    Developer · Moscow Idaho · Member since 2024 · 224 posts · 143 votes
    1y

     I own both student and nonstudent rentals and have done so for 30 years. There are pos and Cons for both.  There is more turnover, as you pointed out, generally about 50%.    This allows it to be very early to maintain the property well every other year.  If the tenants have a bunch of small holes and marks on the wall, you can touch up paint and charge it back.  You can fix broken things and charge it back.  Very little is wear and tear after 1 year.  You won't have a huge bill at the end of 10 years.   You will get a lot more rent, and it is very easy to add value.  Every bedroom makes you $500 where I live $600 in Boulder where I lived $1500.  That can just be a wall across a dining room with a door. 

    A blue lower-income person is much more likely to trash a house than four college kids.  If a lower-income person loses their job, they will leave in the middle of the lease and move.  The majority of people can't go a month without a paycheck or even 2 weeks. 

    In general, college towns appreciate and are more desirable to live in because of the activities that the university provides to the community.   They are almost always more expensive as well.  

    If you are interested in making more money, college kids are the way to go.  They will lease something 9 months in advance just so they can live in a house off campus with enough room for a beer pong table in the front yard if people still do that.  
       

    0Reply
  • Karmine Cramer
    Real Estate Agent · WI · Member since 2024 · 25 posts · 14 votes
    1y
    Quote from @Jacob Palumbo:

    Hi all,

    I'm new to real estate investing and looking to purchase my first buy-and-hold rental property in the greater Milwaukee area. I’m new to the city (but planning to stay long-term!), and I’m still getting to know the local neighborhoods. From what I’ve gathered so far, the areas can vary quite a bit from block to block, which has made me want to dig deeper into where it makes the most sense to invest.

    I’ve saved up enough to comfortably purchase a more affordable rental property in the northwest part of Milwaukee, where the cash flow looks promising. However, I do recognize that properties in these areas are probably less expensive for a reason, and I want to be cautious about potential risks.

    If anyone has experience investing in Milwaukee, I’d love to hear your insights! Are there specific areas you’d recommend for affordable rental properties? Where did/would you start?

    Thanks so much in advance!

    Hey Jacob! Welcome to BP and investing in Milwaukee. My friend Shea Gajewski is just about to close on a property in River west. I would recommend looking into areas like river west and harambee where you have an neighborhood that is growing and a desire to rent. As a side note I also manage properties in this neighborhood and have had no issues finding qualified tenants on the higher end of the rent scale. 
    2Reply
  • Clare PitcherBusiness Member
    Property Manager · Milwaukee, WI · Member since 2024 · 162 posts · 97 votes
    1y

    Hi Jacob, 

    Welcome to Bigger Pockets! There are some great investment opportunities in/near Milwaukee. Our company currently manage about 500 doors in Southeastern Wisconsin. I have noticed that the owners with the most success do not fixate on cashflow but have a more long-term mindset. All good things come with time. We have been in business for about 11 years and the best places in my opinions to invest in are West Allis and Bayview. If you really want to invest in Milwaukee itself, I would suggest Washington Heights or Riverwest, or Harambe. Please reach out if you have an specific questions on rents!

    You can go to our website whmilwaukee.com and take a look at our property map which shows the areas we manage in and the areas we do not. 

    Welcome Home Milwaukee4.4453 Reviews
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    3Reply
  • Paul Novak
    Rental Property Investor · WI · Member since 2023 · 192 posts · 144 votes
    1y

    I don't invest in Milwaukee I invest about an hour north in Sheboygan.  Having said that my sister lives in Milwaukee and I really like the area she is in.  She currently rents in Bayview and it's a nice area.

    2Reply
  • Bryan Bishop
    Investor · Milwaukee · Member since 2018 · 1 post · 3 votes
    1y

    Hi @Jacob Palumbo, I think location depends on your strategy. There are good buys in the Milwaukee market, but it depends on what lens your looking at them through. Do you want low energy and time investment? -> look at surrounding suburbs and a property that's been maintained, do some cosmetic updates and rent out long term. If you want to maximize your return and are willing to put in the work, you might consider medium or short term rentals in an area closer to downtown ex. Brady street, Fifth ward, Bayview. 

    I personally buy and hold long term rentals in the West Allis, Greenfield, and Wauwatosa neighborhoods. My properties are around the median price for a duplex. I have updated them to attract the best tenants and higher end of rents. This strategy has worked very well for me over the last 7 years.

    While managing my own rentals, I am also a licensed realtor. If you have more questions about specific neighbor hoods, DM me. Happy to hop on a call.

    Good luck!

     

    3Reply
    • Nave David
      Member since 2025 · 12 posts · 5 votes
      1y
      Quote from @Bryan Bishop:

      Hi @Jacob Palumbo, I think location depends on your strategy. There are good buys in the Milwaukee market, but it depends on what lens your looking at them through. Do you want low energy and time investment? -> look at surrounding suburbs and a property that's been maintained, do some cosmetic updates and rent out long term. If you want to maximize your return and are willing to put in the work, you might consider medium or short term rentals in an area closer to downtown ex. Brady street, Fifth ward, Bayview. 

      I personally buy and hold long term rentals in the West Allis, Greenfield, and Wauwatosa neighborhoods. My properties are around the median price for a duplex. I have updated them to attract the best tenants and higher end of rents. This strategy has worked very well for me over the last 7 years.

      While managing my own rentals, I am also a licensed realtor. If you have more questions about specific neighbor hoods, DM me. Happy to hop on a call.

      Good luck!

       


      Hey Bryan,
      I’d love to connect and hear more about your experience investing in Milwaukee. I’m currently exploring the market and would really appreciate any insights you can share from your journey.

      0Reply
  • Rebecca KnoxBusiness Member
    Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
    1y

    Hi Jacob,

    I own rental property on the northside and northwest side as well as in West Allis, South Milwaukee and Brown Deer. My favorite property is an SFR in Sherman Park that we bought at 35k when we first started real estate. Reach out anytime if I can help with any questions.

    Captain Save-A-Home LLC
    WebsiteView Page
    0Reply
  • Chaim Lampert
    Milwaukee, WI · Member since 2019 · 54 posts · 44 votes
    1y

    @Jacob Palumbo, as a property manager in Milwaukee I can tell you that the cheaper duplexes in the rougher areas never cash flow as expected. There are rent collection issues and lots of move out damage that usually eat up any cash flow you may have had. I highly recommend avoiding those areas. 

    1Reply
  • Andre Brock
    Investor · Cleveland, OH · Member since 2013 · 120 posts · 77 votes
    1y

    I recently started investing in the Milwaukee area back about  6 months ago  I’m only looking to buy and hold If I’m able to receive 2% percent on the purchase price to cash flow. I’ve wholesaled a some deals in different areas throughout the city. I’ve Came across some good solid contractors lenders and title companies too. 

    1Reply
  • Nick Perret Efferson
    Real Estate Agent · Greater Milwaukee Area · Member since 2025 · 54 posts · 27 votes
    1y

    To invest in Milwaukee, it is helpful to analyze each neighborhood based on your goals. Here is a public resource that my client's find useful https://city.milwaukee.gov/police/Information-Services/Crime... 

    For ideal buy and hold with cash flow and rental demand: Silver city, Burnham Park

    For appreciation and rental demand: Riverwest, Bayview (higher taxes)

    Lower turnover, better rents: Capitol Heights, Nash Park

    Value-add and rent out: Harambee

    0Reply
  • Gregory Chadwell
    Real Estate Broker · Milwaukee, WI · Member since 2015 · 299 posts · 90 votes
    1y

    Don't use price and potential cashflow alone in determining your investment.    The long game is appreciation and market increased rents. 

    1Reply
  • Charles ClarkBusiness Member
    Real Estate Broker · Milwaukee, WI · Member since 2020 · 306 posts · 209 votes
    1y

    @Jacob Palumbo
    Welcome to Milwaukee and to real estate investing! You're spot on—Milwaukee is very block-by-block, so local insight is key. The northwest side can offer strong cash flow, but definitely do your due diligence on tenant screening, property management, and city code enforcement. Consider connecting with local investor meetups or Facebook groups—they're a goldmine for on-the-ground knowledge. Best of luck on your first deal—you’re asking the right questions!

    [email protected]414-719-6090
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  • Ben JacobsBusiness Member
    Property Manager · Milwaukee, WI · Member since 2017 · 37 posts · 10 votes
    7mo

    Solid recommendations already in this thread. A few additions from someone who works with property owners across the metro daily:

    Bay View is hot but getting pricier — cap rates have compressed. Still a great area for long-term holds with quality tenants.

    West Allis remains one of the best value plays in the area. Strong renter demand, reasonable price points, and it's gentrifying in pockets without the Milwaukee city tax overlay.

    Washington Heights and Wauwatosa are worth a look if you want stability over cash flow. Lower turnover, more professional tenants, and properties tend to hold value well.

    One thing I'd emphasize: wherever you buy, your management approach matters as much as the neighborhood. A great property in a great area with bad screening can still turn into a nightmare. We work with property owners throughout southeast Wisconsin on tenant placement and the #1 factor in a successful rental isn't location — it's having the right tenant in place from day one.

    Residential Renters4.8218 Reviews
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