Oshkosh-Neenah, 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.
affordable
Price to income
2.86×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Wisconsin
- 3.08×-0.22
- vs U.S.
- 3.43×-0.57
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
18.9%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Wisconsin
- 19.4%-0.5
- vs U.S.
- 23.3%-4.4
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.30%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Wisconsin
- 3.95%+0.34
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.03%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Wisconsin
- 0.01%
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
3.69
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+0.11
- vs U.S.
- 3.52+0.17
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
+63.8%
homeValues.yearOverYear
+7.4%
Median home value
$208,600
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $889 | $10,668 | 14.6% |
| 2 BR | $1,149 | $13,788 | 18.9% |
| 3 BR | $1,543 | $18,516 | 25.4% |
Labor market direction
Unemployment
2.7%
Median household income
$72,873
What's being built
Total TTM
632
+6.8% YoY
Single-family
288
2–4 unit
12
5+ unit
332
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Winnebago County | 171,197 | $208,600 | $72,873 | 632 | +6.8% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Oshkosh | 171,197 | $72,873 | 2.86× | 4.30% | +63.8% | 3.69 | 2.7% |
| Eau Claire, WI | 171,951 | $72,513 | — | — | +55.7% | — | 3.2% |
| Iowa City, IA | 175,894 | $74,142 | — | — | +34.6% | — | 2.4% |
| Janesville-Beloit, WI | 163,817 | $74,390 | — | — | +59.8% | — | 3.2% |
| Wausau-Weston, WI | 166,222 | $76,185 | — | — | +56.7% | — | 2.7% |
| Coeur d'Alene, ID | 173,396 | $77,034 | — | — | +51.0% | — | 4.4% |
Where people are moving in from
Net migration
-55
-0.03% of population
| Origin county | Tax returns |
|---|---|
| Outagamie County, WI | 1,372 |
| Fond du Lac County, WI | 386 |
| Calumet County, WI | 306 |
| Brown County, WI | 233 |
| Milwaukee County, WI | 188 |
| Waupaca County, WI | 166 |
Who lives in Oshkosh
- Median age
- 38
- Bachelor's+
- 31.0%
- Owner-occupancy
- 65.8%
- Vacancy rate
- 6.3%
- Rent burdened (30%+)
- 38.5%
- Median household income
- $72,873
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.