Condominiums can be a more affordable path to homeownership, but developers say policy and economic challenges make new construction difficult
Wisconsin falls well below the national average when it comes to condos as part of the broader housing market, which puts homeownership further out of reach for many people.
Condominiums often serve as a more affordable home for first-time buyers. They can also be an option for older adults to retain equity as they downsize from larger single-family homes.
Wisconsin’s median home price was $314,000 in August, according to the latest numbers from the Wisconsin Realtors Association. That’s a 50 percent increase over the past five years...
Leo's notes: WPR reports that owner-occupied multifamily housing accounts for less than 8% of Wisconsin's housing stock, compared with more than 12% nationally. Madison and Milwaukee have also experienced dramatic declines in new condo production since the mid-2000s. Housing choice depends on financing and development feasibility just as much as zoning—especially when conventional rental projects are easier to finance than attainable ownership alternatives.
Ken Notes: We understand that 2008 was devastating for the condo market with banks selling units to those that could not afford them, but today we have an "ownership" crisis and banks are still leery of lending in this market. We are shooting ourselves in the foot by not creating markets for our service, retail, and entry level workers to own affordable homes. Condos are a part of the solution not the problem.
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- Volume: 26 - WEEK: 43 Date: 10/19/2026 3:34:22 PM -