New Study Reveals Highest, Fastest-Rising Apartment Rates

BROOKFIELD, WI —People who live in the metro Milwaukee area may enjoy a more reasonable cost of living when compared with larger metro areas such as Chicago or New York, however a new study shows that apartment rates in some suburbs are on the rise more quickly than others.

According to an analysis published by Rentcafe, the fastest growing rents in May 2019 were in Mequon, where prices increased by 12.1 percent over the year. Renters here now pay as much as $208 more per month, on average, than they did in May 2018, the report stated.

The study also reported that Greenfield apartment prices saw the second highest annual increase, jumping by 6.9 percent, $68 more expensive than the same month last year.

Analysts said that Waukesha and New Berlin experienced the third and fourth fastest rent increases, up by 5.2 percent and 5 percent over last year.