Milwaukee has Largest Rent Hike in the Nation
Milwaukee has the largest rent hike of any U.S. city from June to July, according to a study by ADOBO.
Adobo is an apartment search firm
The average rent in Milwaukee for a one bedroom went from $880 to $1,010. That is a 15% increase.
As the apartment boom continues in the city, Milwaukee saw vacancies drop from 5.6% in fourth quarter to 4.1% in the first quarter.
The bulk of new renters over the past 10 years were in their 50s and 60s.
The largest segment of renters has a household income under $25,000 nationally.
The biggest fall in rent was in Charlotte, North Carolina where rent went from $1,184 to $1,016.