2025 Q2 Milwaukee Multifamily Market Report

Market Overview

In Q2 2025, Milwaukee’s multifamily market demonstrated resilience, with average rent at $1,440 and occupancy at 96.1 percent. Net absorption through the first half reached 1,507 units, while completions totaled 2,054 units. Annual rent growth stood at 1.8 percent—double the national average—despite a slight 30-basis-point dip in occupancy. Notably, active construction slowed sharply, down 50 percent year-over-year to just 1,750 units, indicating future supply tightening.

About Colliers

Colliers is a global real estate services firm headquartered in Toronto, operating across more than 60 countries. The company delivers comprehensive capabilities in brokerage, capital markets, valuation, advisory, and market research. Its multifamily reports provide in-depth data and local context to help investors, owners, and developers navigate shifting market fundamentals.