Green Bay, WI
At a Glance
Top 5 reasons to invest in Green Bay, WI
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Key Stats
About
Green Bay, Wisconsin, is the largest city in Brown County and one of the state's fastest-growing markets. It’s an area rich in industry, agriculture, and history, providing real estate investors with many growth opportunities.
Green Bay's population has seen positive changes, with its most recent population growth of 0.44% to 328,011. This highlights the market's potential for real estate investors, as it attracts residents of all ages, from new professionals to retirees.
The real estate market here has been stable, with median home prices changing by 7.9% since last year. Today’s average home price is $299,609. The area continually shows solid growth since the economy settled after the real estate boom during the pandemic.
Green Bay offers a unique advantage in terms of affordability. The median rent at $1,003 is competitive with other markets and has changed 3.2% since last year. The rent-to-price ratio is 0.3%, and the market's low cost of living consistently draws renters to the area.
The market’s diverse, growing economy is important to real estate investors. There are many large industries here, including dairy, agriculture, and a lesser-known favorite: paper making. Several paper and pulp mills and a few paper-converting companies are located throughout Green Bay. The varied economic platforms and average household income of $74,208 create a sense of stability for real estate investors.
The area is also home to the largest cheese processing and shipping center in the country, and agribusiness is a key component of its economy. Green Bay's unemployment rate of 3.1% is on target with the significant investments in commercial properties in the downtown area made recently, which have brought new office buildings and retail spaces to the area.
Green Bay is a somewhat landlord-friendly market, with very few laws regarding rent control or security deposits. However, anyone looking to enter the short-term rental business must have a permit and pay a $500 application fee.
The Green Bay Public School District is the fourth-largest in the state and serves 19,000 students. It has 42 schools and various pathways for students to follow their dreams. The district is over 150 years old and offers various programs to meet all kids' needs.
The high-quality education in Green Bay is an important factor for most families and helps increase its draw to the area. Additionally, there are a half-dozen universities in the area.
Green Bay's public transportation is exceptional, as it’s the transportation hub of Northeast Wisconsin. The Green Bay Metro gets residents around who don’t have a car, since most of the area is less than walkable.
There are many reasons to consider investing in real estate in Green Bay, starting with its low cost of living, increasing population, and varied yet strong job market. There are homes in many price ranges and different types, including single-family, condos, and townhomes, for real estate investors to earn a profit.