Real Estate Locale :: Real Estate in Milwaukee WI
Real Estate in Milwaukee WI: Milwaukee Real Estate Options in Wisconsin
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.
Housing Prices in Milwaukee
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.
Milwaukee Demographics
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. Almost 85% of Milwaukee residents hold a high school diploma and over 27% have an undergraduate degree. The city is also home to a number of established universities and colleges like McGill University, Milwaukee School of Engineering, Milwaukee Institute of Art and Design, Marquette University and the University of Wisconsin-Milwaukee.
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.
Communities in the Milwaukee Area
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.
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