With affordable housing and acting as home to some of America’s largest companies, real estate in Milwaukee, WI may not be booming, but it is surviving. This Lake Michigan metropolis boasts a low cost of living, great school system, numerous post-secondary institutions and magnificent cultural attractions like the Milwaukee Art Museum. If you’re considering purchasing Milwaukee real estate, keep reading for more information on housing prices, demographic breakdowns, and surrounding communities.

Real estate in Milwaukee, WI is definitely affordable. According to MLS, the median price for homes in early 2008 hovered around $150,000 and despite the national housing market downturn, home prices may not be appreciating, but they are holding steady. The city also boasts a cost-of-living index of 87, meaning it costs about 13% less to live in Milwaukee when compared to the national average. The population of Milwaukee is just over 600,000. However, the entire metropolitan area encompasses approximately 1.79 million residents. The median income is about $36,000 and the median age is average at 32 years old. Milwaukee is also known for its well educated populace, particularly when compared to the national average. The workforce is highly educated, with almost 85% of residents holding a high school diploma and close to 30% holding a bachelor’s degree.

Unfortunately, Milwaukee is a highly segregated city. According to the 2000 census, 39.5% of respondents from Milwaukee indicated African-American ancestry. In turn, the city has the second highest black male unemployment rate in the United States at 43%. The city is continuing to attempt to reduce racial tensions and decrease pronounced segregation. Real estate in Milwaukee, WI goes beyond the city proper and includes such areas, towns and communities as Brookfield, Elm Grove, New Berlin, Shorewood, Waukesha and Menomonee Falls.

The largest city of the state of Wisconsin, Milwaukee has a population of over 700,000. Finding a house for rent in this city can be a simple task if you manage to answer a few questions, firstly what type of building are you looking for? Secondly where do such homes exist in the city? What is the average rent for such a home? Finally what are the different neighborhoods of this city that are safe? If you can invest some time into answering these questions then I can assure you that finding a home for rent will be a lot easier.

Milwaukee has it share of safe and unsafe neighborhoods, here I have tried to list a few neighborhoods that are safe to inhabit and I have also mentioned some which you ought to avoid at any cost. Marquette is a neighborhood that is part of the Marquette university campus, this area is mainly inhabited by students and it is a mile away from the Michigan Lake. This neighborhood is ideal for students to stay and it has many studio apartments that students can rent.

Third ward is an upper-class neighborhood that has a high number of condos and loft apartments. This area is Milwaukee’s main transport hub and houses are on the costlier side. Brewer’s hill is also an upscale gentrified neighborhood, it is a safe area to live in and once again the rent here is on the costlier side. Cold Spring Park is a neighborhood that is safe and calm. Juneau which is a part of this neighborhood is home to a number of middle class families and it is an area where the rent is moderate. Sherman Park, Jackson Park and Tippecanoe are other safe neighborhoods where the families are largely middle class. The average rent in these areas is moderate.

Martin drive is a neighborhood that is considered to be one of the safest in this city. There are many unsafe neighborhoods, especially in the south and the north side of Milwaukee. Metcalfe Park and Park West are two of the most unsafe neighborhoods therefore avoid renting homes in them.

A normal one/two bedroom house/apartment would cost anywhere between $500 to $2000 depending on the region and facilities provided. Some houses charge rent without additional services like heating so ensure that you come to an agreement with the landlord on all the inclusive charges.