Wisconsin Rapids is home to the best residential real estate investment market in Wisconsin.
The 54494 zip code in Wisconsin Rapids presents the greatest opportunity for the best real estate investments among the 3,516 individual real estate markets in Wisconsin we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
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Data sources
Most of the data in this article comes from the Zillow Home Value Index and the U.S. Census American Community Survey.
We update our data when the original sources update their data, usually monthly. Sometimes we'll update data more frequently.
Clever also performs regular quality checks to identify outdated data, broken data connections, and other data issues that may arise.
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5 best places to invest in Wisconsin
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Wisconsin Rapids | 100 | 3.3 | 50.99% |
| 2 | Oconto | 98.4 | 3.6 | 48.34% |
| 3 | Beloit | 97.0 | 3.3 | 48.11% |
| 4 | Manitowoc | 94.4 | 3.7 | 54.27% |
| 5 | Black River Falls | 92.3 | 3.6 | 40.02% |
🚨 This article is for informational purposes only. It isn't intended to convey financial or legal advice. We recommend you talk to a real estate agent or real estate attorney when buying a home in Wisconsin.
1. Wisconsin Rapids
We've identified the 54494 zip code in Wisconsin Rapids as Wisconsin's best real estate investment market. Here's why.
🔎 Key data about Wisconsin Rapids (54494)
| Data point | Value | Rank in state (of 3,516 markets) |
|---|---|---|
| InvestScore | 100 | Highest |
| Typical property value | $239,720[1] | 31st lowest |
| Five-year appreciation | 50.99%[2] | 12th highest |
| Household income | $72,595[3] | 170th highest |
| Affordability ratio | 3.3 | 9th most affordable |
| Five-year population growth | 0.65%[4] | 121st highest |
| Unemployment rate | 2.86%[5] | lowest |
| Property taxes | $2,695[6] | 35th lowest |
| Educational attainment | 22.90%[7] | 156th highest |
Wisconsin Rapids (zip code 54494) is the best residential real estate investment market in Wisconsin. It has the 12th highest property value appreciation among markets we evaluated, with a 50.99% appreciation of the typical property over the last five years.
Wisconsin Rapids is the 9th most affordable market among the 3,516 Wisconsin markets we evaluated, with an affordability ratio of 3.3.
2. Oconto
The 54153 zip code in Oconto is the runner-up spot for the best real estate investments in Wisconsin.
🔎 Key data about Oconto (54153)
| Data point | Value | Rank in state (of 3,516 markets) |
|---|---|---|
| InvestScore | 98.4 | 2nd highest |
| Typical property value | $254,349[1] | 48th lowest |
| Five-year appreciation | 48.34%[2] | 21st highest |
| Household income | $70,684[3] | 188th highest |
| Affordability ratio | 3.6 | 30th most affordable |
| Five-year population growth | 2.03%[4] | 41st highest |
| Unemployment rate | 3.10%[5] | 3rd lowest |
| Property taxes | $2,440[6] | 16th lowest |
| Educational attainment | 14.40%[7] | 196th highest |
The 54153 zip code in Oconto features a typical property value of $254,349, the 48th lowest in the state.
Property values have appreciated 48.34% over the past five years, the 21st highest increase among evaluated markets in the state. Oconto homes have an affordability ratio of 3.6, the 30th most affordable in the state.
3. Beloit
The 53511 zip code in Beloit comes in at No. 3 in our ranking of the best residential real estate investment markets in Wisconsin.
🔎 Key data about Beloit (53511)
| Data point | Value | Rank in state (of 3,516 markets) |
|---|---|---|
| InvestScore | 97.0 | 3rd highest |
| Typical property value | $221,858[1] | 21st lowest |
| Five-year appreciation | 48.11%[2] | 22nd highest |
| Household income | $67,067[3] | 205th highest |
| Affordability ratio | 3.3 | 11th most affordable |
| Five-year population growth | 0.82%[4] | 114th highest |
| Unemployment rate | 3.60%[5] | 6th lowest |
| Property taxes | $2,696[6] | 36th lowest |
| Educational attainment | 19.40%[7] | 173rd highest |
With a typical property value of $221,858, Beloit's 53511 zip code features the 21st lowest property values in the state.
Beloit homes have an affordability ratio of 3.3, the 11th most affordable among the markets we evaluated.
4. Manitowoc
The 54220 zip code in Manitowoc ranks No. 4 among Wisconsin's residential real estate investment markets.
🔎 Key data about Manitowoc (54220)
| Data point | Value | Rank in state (of 3,516 markets) |
|---|---|---|
| InvestScore | 94.4 | 4th highest |
| Typical property value | $244,904[1] | 42nd lowest |
| Five-year appreciation | 54.27%[2] | 3rd highest |
| Household income | $66,035[3] | 3rd highest |
| Affordability ratio | 3.7 | 42nd most affordable |
| Five-year population growth | 0.52%[4] | 126th highest |
| Unemployment rate | 2.86%[5] | lowest |
| Property taxes | $2,603[6] | 23rd lowest |
| Educational attainment | 24.60%[7] | 146th highest |
Property values in Manitowoc's 54220 zip code have seen the 3rd highest increase among evaluated markets in the state, with an appreciation of 54.27% over the past five years.
Manitowoc's affordability ratio of 3.7 makes it the 42nd most affordable among the 3,516 markets we evaluated.
5. Black River Falls
The 54615 zip code in Black River Falls rounds out our top five residential real estate investment markets in Wisconsin.
🔎 Key data about Black River Falls (54615)
| Data point | Value | Rank in state (of 3,516 markets) |
|---|---|---|
| InvestScore | 92.3 | 5th highest |
| Typical property value | $241,030[1] | 34th lowest |
| Five-year appreciation | 40.02%[2] | 67th highest |
| Household income | $67,033[3] | 67th highest |
| Affordability ratio | 3.6 | 28th most affordable |
| Five-year population growth | 2.36%[4] | 28th highest |
| Unemployment rate | 2.86%[5] | lowest |
| Property taxes | $2,827[6] | 46th lowest |
| Educational attainment | 14.90%[7] | 195th highest |
Property values in Black River Falls's 54615 zip code rose 40.02% over the last five years, ranking the city 67th highest among evaluated markets in Wisconsin.
Black River Falls homes have an affordability ratio of 3.6, the 28th most affordable among the markets we evaluated.
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Frequently asked questions
See our article Steps to Buying Your First Rental Property to learn the basics of real estate investing for beginners.
You'll learn the importance of setting goals, picking the right market, and more.
Cash investors often use what's called the 70% rule, which suggests they should pay around 70% of a house's after-repair value minus the cost of renovations.
By buying for about 70% of the after-repair value, they're positioning themselves to pay for repairs and other costs, and to lock in a profit.
The 70% rule isn’t a hard-and-fast formula, but a quick guideline investors use to evaluate potential deals.
Investing in residential real estate can be one of the best passive real estate investments in Wisconsin.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in Wisconsin
To determine the best real estate investments in Wisconsin we evaluated 3,516 markets on eight metrics, and then assigned an InvestScore based on a proprietary weighting framework. Each market corresponds to a specific zip code in Wisconsin.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes.
