Milwaukee is the most populous city in the state of Wisconsin, and one of the most industrial towns in the United States. Second only to San Jose, CA in terms of blue-collar jobs, Milwaukee's famed breweries only make small contributions to the city's economy. It's proximity to Lake Michigan causes it to experience "lake effect" weather--that is, colder winters and warmer summers than surrounding regions, thanks to the influence the lake has on the weather patters of the surrounding land.

Milwaukee's economy is at a virtual standstill right now. There has been no job growth in the past few years, and there is no projected growth on the horizon. Home values are low (about two-thirds the national average) and property values are barely rising. Add to this the fact that the city is actually losing residents, and it is plain that Milwaukee has seen better days.

This should not discourage potential investors, however. The low price of homes in Milwaukee should attract the eye of any investor, and the city is doing its best to modernize (as many of the lost jobs are in manufacturing). It is a very competitive market for contractors, as well, so home repairs might well be cheaper in Milwaukee than in other cities.

The biggest incentive that HUD has active in Milwaukee is a $1.3 million grant to Milwaukee's AIDS Resource Center. This money is to help secure housing for persons living with AIDS, an often overlooked demographic. If you think you might qualify for this money, contact the AIDS Resource Center before you hire a real estate agent.