Milwaukee’s Northpoint neighborhood is a great place to buy a high-end condo or large, stand-alone home, according to both industry professionals and residents.
Where and What is Northpoint?
Just two miles north of Milwaukee’s downtown on Wisconsin’s shoreline sits the district of Northpoint.
The neighborhood has both dynamic character with more apartment dwellers than single-family homeowners and a prime location that is integrally connected with Milwaukee’s urban East Side. Nearby are the campus of the University of Wisconsin-Milwaukee, hospitals, medical centers and small business/restaurant hubs.
Northpoint’s residents reflect a cosmopolitan, political, ethnic, religious and demographic diversity of businesspeople, professionals, professors and artists. According to John Guarda writing for Milwaukee Magazine, three things unite the neighborhood’s residents – “material success, an interest in historic preservation and a taste for city life.”
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Northpoint Real Estate
Along with being one of Milwaukee’s most expensive neighborhoods, Northpoint has had the most dollar-value price appreciation during the pandemic.
In June 2020, a typical Northpoint home was valued at $656,914, according to the Zillow Home Value Index. One year later, the same home saw its value jump to $786,116.
The neighborhood’s housing inventory is classified as one of the most resilient of major metro area, according to Zillow’s data base of the hundred largest metros.
Jim Schief, an agent with Shorewest Realtors and Northpoint resident, said that Milwaukee is “…still a seller’s market, no question…” but one in which there is “a little more breathing room” for buyers.
The average rent in the Northpoint district was $1,483/month in June 2021, according to RentCafe. This monthly rent of $1,483 was seventh-highest rent of any neighborhood in the city. Average rents throughout Milwaukee increased +3%.
Renters pay a premium for lakefront locations but get a comparative discount when renting in Milwaukee’s downtown buildings.
In conclusion, Schief said, “I think as the country focuses on new urbanism and more affordable places to live, Milwaukee is getting a tone of attention.”
Thanks to Zillow and Inman.