(WFRV) – While Wisconsin may not be known for its absurdly high living costs when compared to other states, what can renters expect to get with a $1,500 rental budget?
Researchers at Rent Café and Yardi, a California-based real-estate website and property management software company, analyzed how much apartment space a $1,500 monthly rental budget would get prospective renters in Wisconsin.
Across the nation on average, a monthly rent of $1,500 will reportedly get an average of 782 square feet of apartment space. Wichita, Kansas is the number one spot where renters can get the biggest bang for their buck.
For comparison, $1,500 in Manhattan, New York would only get about 243 square feet while Wichita would have 1,463 square feet.
The report only listed two Wisconsin cities, Madison and Milwaukee, in its report. Below are the rankings for them.
How much apartment space a $1,500 monthly budget will give renters in select Wisconsin cities:
- 36th – Milwaukee, 927 square feet
- 51st – Madison, 831 square feet
Our neighbors to the south (Illinois) had four cities with wide-ranging rankings. Chicago had 502 square feet for a $1,500 monthly rental budget. While Joilet had 979 square feet.
The report was calculated by using price per square foot derived from the average rents and average size of apartments by city, in multifamily properties of 50 or more units using Yardi Matrix data.
The full list and report can be viewed here.