Wauwatosa Leads Milwaukee Suburbs With 7.4% Rental Yields

Wauwatosa recorded the highest rental yield of any Milwaukee suburb through June 2026, reaching 7.4 percent on single-family and small multifamily properties.

The figure stands out against a broader Milwaukee County market where yields averaged 5.9 percent, according to data compiled by local assessors and property managers. Rising construction costs on the south side and slower absorption in some downtown conversions have pushed capital toward established north and west suburbs with proven tenant pools.

Wauwatosa sits directly west of the Milwaukee River and benefits from quick access to Interstate 41. Properties along Burleigh Street and near Mayfair Mall continue to attract renters who work at nearby medical campuses and corporate offices.

Local anchors support steady occupancy

The Wauwatosa Chamber of Commerce reported 92 percent occupancy in its most recent member survey covering the first quarter. That figure tracks with enrollment trends at the Milwaukee County grounds and the ongoing expansion of the Milwaukee Regional Medical Center, which added 180 positions in 2025. Investors also cite the suburb’s participation in the city’s Rental Property Improvement Program, which offers matching grants up to $8,000 for code upgrades on older duplexes.

Median sale prices for two- and three-bedroom homes reached $298,000 in the second quarter, up 4 percent from the same period in 2025. Average monthly rents settled at $1,825, producing the 7.4 percent gross yield when maintenance and vacancy allowances are factored in. Comparable figures for Shorewood came in at 6.1 percent and for Whitefish Bay at 5.8 percent over the same stretch.

Next steps for local buyers

Properties currently listed on the Multiple Listing Service show 14 two-unit buildings under $350,000 in the 53213 zip code. Prospective buyers should review recent tax assessments through the City of Wauwatosa assessor’s office and confirm eligibility for the county’s energy-efficiency rebate before closing. Several local lenders have kept rates on investment properties within 40 basis points of owner-occupied loans through the end of July.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.