Green Bay, WI
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.08×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Wisconsin
- 3.08×=
- vs U.S.
- 3.43×-0.35
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
18.0%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Wisconsin
- 19.4%-1.4
- vs U.S.
- 23.3%-5.3
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
tight
Cap rate proxy
3.80%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Wisconsin
- 3.95%
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.05%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Wisconsin
- 0.01%+0.04
- vs U.S.
- 0.03%+0.02
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
4.98
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Wisconsin
- 3.58+1.40
- vs U.S.
- 3.52+1.46
Benchmark
Census BPS permits TTM ÷ population × 1,000
very tight labor market
Unemployment
2.7%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Wisconsin
- 2.7%=
- vs U.S.
- 3.9%-1.2
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+65.9%
homeValues.yearOverYear
+6.2%
Median home value
$238,700
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $931 | $11,172 | 14.4% |
| 2 BR | $1,164 | $13,968 | 18.0% |
| 3 BR | $1,545 | $18,540 | 23.9% |
Labor market direction
Unemployment
2.7%
Median household income
$77,459
What's being built
Total TTM
1,634
+3.1% YoY
Single-family
761
2–4 unit
214
5+ unit
659
All 3 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Brown County | 268,393 | $245,900 | $77,490 | 1,392 | -4.8% |
| Oconto County | 39,048 | $212,000 | $75,886 | 187 | +64.0% |
| Kewaunee County | 20,570 | $208,900 | $80,085 | 55 | -3.5% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Green Bay | 328,011 | $77,459 | 3.08× | 3.80% | +65.9% | 4.98 | 2.7% |
| Lincoln, NE | 339,707 | $73,095 | — | — | +49.5% | — | 2.8% |
| Hagerstown-Martinsburg, MD-WV | 295,165 | $75,473 | — | — | +50.6% | — | 3.9% |
| Kennewick-Richland, WA | 304,252 | $85,881 | — | — | +43.4% | — | 5.8% |
| Crestview-Fort Walton Beach-Destin, FL | 288,639 | $79,150 | — | — | +51.3% | — | 4.5% |
| Wilmington, NC | 289,726 | $73,687 | — | — | +70.7% | — | 3.4% |
Where people are moving in from
Net migration
+156
+0.05% of population
| Origin county | Tax returns |
|---|---|
| Outagamie County, WI | 662 |
| Brown County, WI | 651 |
| Oconto County, WI | 369 |
| Winnebago County, WI | 274 |
| Milwaukee County, WI | 271 |
| Marinette County, WI | 255 |
Who lives in Green Bay
- Median age
- 39
- Bachelor's+
- 29.9%
- Owner-occupancy
- 68.3%
- Vacancy rate
- 8.3%
- Rent burdened (30%+)
- 38.2%
- Median household income
- $77,459
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.