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Milwaukee, Wisconsin, offers a diverse range of neighborhoods, each with its own unique character, housing market, and lifestyle amenities. For those considering a move, the key factors often include the median home sale price—the midpoint of all home sales in an area, indicating the market's center point—and rental costs. Based on recent data, Milwaukee's overall real estate market presents a median sale price of $215,000 and an average rent of $1,090, providing options for various budgets. This guide explores 18 popular Milwaukee neighborhoods to help you find the best fit, whether you're buying a home or renting an apartment.
Neighborhoods closest to downtown and Lake Michigan typically command higher prices. The Historic Third Ward, known for its converted warehouse lofts and proximity to the Milwaukee Public Market and Summerfest grounds, leads with a median sale price of $495,000. Similarly, Westown, the city's central entertainment district near the Milwaukee Riverwalk, has a median sale price of $470,000. Brady Street, a vibrant corridor on the Lower East Side, follows at $403,000, reflecting its popular dining and shopping scene. For renters, areas like Juneau Town (East Town) have average one-bedroom rents reaching $2,543.
Several neighborhoods provide more affordable entry points into the Milwaukee housing market. Lincoln Village features a median sale price of $182,500, while Sherman Park and Midtown offer median prices of $100,000 and $124,000, respectively. Merrill Park stands out with the lowest median sale price at $75,000. For renters seeking value, Merrill Park and Sherman Park offer average two-bedroom apartments for $1,125 and $825, significantly below the city average. These areas often feature single-family homes and larger green spaces.
Summary of Milwaukee Neighborhood Data
| Neighborhood | Median Sale Price | Average Rent 1-Bedroom | Average Rent 2-Bedroom |
|---|---|---|---|
| Bay View | $325,000 | $1,963 | $2,583 |
| Brady Street | $403,000 | N/A | N/A |
| Brewer’s Hill | $379,000 | $1,712 | $2,266 |
| Historic Third Ward | $495,000 | $1,875 | $2,381 |
| Jackson Park | $264,950 | $999 | $1,244 |
| Juneau Town | $370,000 | $2,543 | $2,195 |
| King Park | $265,000 | N/A | N/A |
| Lincoln Village | $182,500 | N/A | $1,050 |
| Lower East Side | $349,500 | $1,815 | $2,591 |
| Merrill Park | $75,000 | $645 | $1,125 |
| Midtown | $124,000 | N/A | N/A |
| Riverwest | $275,500 | $1,545 | $2,253 |
| Sherman Park | $100,000 | $725 | $825 |
| Story Hill | $364,000 | N/A | N/A |
| Walker’s Point | $163,000 | $1,572 | $1,867 |
| Washington Heights | $271,750 | N/A | N/A |
| Washington Park | $82,500 | N/A | $835 |
| Westown | $470,000 | N/A | N/A |
Data sourced from publicly available real estate data centers (Dec 2024).
Conclusion: Choosing Your Milwaukee Neighborhood Ultimately, the best neighborhood in Milwaukee depends on your personal priorities, including budget, desired lifestyle, and housing needs. Based on our experience assessment, buyers seeking a walkable, urban experience may prioritize the Historic Third Ward or Westown, while those looking for a more residential feel might find better value in Sherman Park or Washington Heights. Renters should weigh the cost versus proximity to downtown and lakefront attractions. We recommend researching each area thoroughly and visiting in person to get a true feel for the community before making a decision.
