On Tuesday, CARW hosted nationally recognized real estate economist Jay Parsons and host of “The Rent Roll” podcast. Jay touched on housing affordability and supply to shifting demographics, capital markets, and changing patterns of where people live and work specific to Milwaukee surrounding areas.
Key takeaways include:
- Milwaukee/Midwest underrated — strong architecture, culture, walkability, better value than coastal markets
- Demand beating forecasts — ~250K new renters absorbed nationally in H1; Midwest steady and healthy
- Retention structurally high — trending up 10+ years; Milwaukee among the highest in the country
- Largest supply wave since late 1970s (peaked 2024–2025) now easing back to pre-COVID levels
- Midwest = “steady Eddie” — less upside than Austin/SF, far less downside volatility; drawing institutional capital
- Supply-rent link is simple — heavy supply drops rents, limited supply lifts them; Milwaukee is low-supply/positive-growth
- Class A/C filtering — Sun Belt oversupply pushes Class C rents down; low-supply Midwest keeps Class C rents rising, more resilient workforce housing
- Affordability is bifurcated — $50K+ renters at ~21–22% rent-to-income and improving; real distress under ~$30K
- Policy focus — target the income gap at the bottom, not broad “rent is too high” claims
- Office-to-multifamily conversions — complex, costly, building-specific; good one-offs, not a mass-scale fix
- Outlook: flight to quality — stronger performance for top locations/assets; wider gap between winners and losers within metros
See Jay’s presentation HERE
Hear Jay’s presentation HERE
See photos from the event HERE