Invest In Apartment Buildings In Kenosha, WI

Where Kenosha's Rental Demand Comes From

Kenosha rents at a much higher rate than Wisconsin overall. The U.S. Census ACS 2020–2024 counts 16,640 renter households, 41.3% of all households, against 32.2% statewide. The population was nearly flat at 99,372, and renter households slipped 0.9% in five years, but employed residents rose 5.2% and median household income climbed 28.6% to $71,239. Just under half of renters, 49.3%, spend 30% or more of income on housing.

The city's economy has been rebuilt since Chrysler left. Chrysler closed the former American Motors plant on the harbor in 1988, and the Kenosha Engine Plant shut in 2010. Logistics, food production and health care filled much of the gap. A Kenosha Area Business Alliance labor profile from around 2023 listed Uline and Amazon as the largest private employers in Kenosha County, each with more than 3,000 workers, followed by Froedtert South with 2,500 to 3,000, Advocate Aurora Health and Snap-on. Jockey International, Carthage College, Gordon Food Service, Rust-Oleum and Kenall Manufacturing were also on the list. The University of Wisconsin-Parkside, Gateway Technical College and Herzing University's downtown campus add students.

Commuters are a big part of the picture. The same profile found that 45% of Kenosha County's working residents leave the county for work, including 20,931 who commute to Illinois and 11,496 who head to Racine and Milwaukee counties. Kenosha sits about 65 miles north of Chicago. For apartment owners, that means a tenant base split between local warehouse and hospital workers and people who pay Wisconsin rents while drawing Illinois or Milwaukee paychecks.

New Supply And Rents In Kenosha

Median gross rent in Kenosha is $1,186 a month (U.S. Census ACS 2020–2024), up 30.6% from $908 in the 2015–2019 survey and above the Wisconsin median of $1,087. The Census rental vacancy rate is 4.4%. The Chicago Tribune reported in January 2026 that two-bedroom apartments citywide typically rent for $1,500 to $1,900 a month, higher than the Census median because new listings price above long-term leases.

New construction is concentrated downtown. The Census counts 9,773 homes in buildings with five or more units, 23% of the housing stock, up 7.4% in five years, and the median home was built in 1970. The biggest change is the Kenosha Harbor District on the former Chrysler land by the lake. Its first building, The Karrick, opened in early 2026 with 158 units at 5522 7th Avenue, asking about $1,500 to $2,700 a month depending on the source. By late January only about 10 units were occupied and 30 were pre-leased, so lease-up was just starting. A second building with about 210 units and ground-floor retail was planned for 54th Street and 6th Avenue. Cobalt Partners has said full build-out of about 1,100 units could take 10 years.

Uptown added the 71-unit Uptown Lofts workforce building in late 2023 on a commercial strip damaged during the 2020 unrest, with two-bedrooms advertised around $1,200. That gap between Uptown and the harbor shows how wide Kenosha's rent range is.

For a buyer, the older stock is where most deals will be. Anyone looking at apartment syndications in Kenosha should price 1960s and 1970s buildings on current rents, not on the harbor's new-construction asking rents. They should also track how fast the Harbor District leases up, since roughly 1,000 more units there could pull tenants from older downtown buildings over the next decade.

Kenosha Neighborhoods We Watch

Kenosha's rental market runs from new lakefront towers to older blocks inland and newer suburban growth near I-94.

How Kenosha Ranks For Apartment Investors

Among the 35 Wisconsin cities we track, Kenosha ranks 13th for median gross rent, 14th for renter share and 9th for five-year rent growth. Its rents fall in the middle of the pack. In raw numbers, Kenosha has about 316 fewer residents, 151 fewer renter households and 673 more homes in buildings with 5 or more units than in the 2015–2019 survey. With fewer renter households than before, a building has to win tenants from competitors rather than from new demand.

How Kenosha Compares With The Wisconsin Average

Kenosha's median gross rent of $1,186 is above the Wisconsin median of $1,087, and its renter share is 41.3% compared with 32.2% statewide.

Can Tenants Afford Kenosha Rents?

At $1,186 a month, the median Kenosha rent adds up to $14,232 a year, or roughly 20% of what the median household earns. Under the common 30% guideline, a household needs about $47,400 a year to cover that rent comfortably. That's a heavier load than the Wisconsin average of 16.8%. Renters usually earn less than the all-household median, so the real burden for tenants is higher than this simple ratio shows.

In dollars, Kenosha rent climbed $278 a month over five years and household income climbed $15,843 a year. The two have moved together, so affordability today looks much like it did five years ago.

Quick Facts: Kenosha Rental Market

These are the core numbers for Kenosha, WI, each from the Census Bureau's American Community Survey.

• Kenosha, WI has 99,372 residents, about flat from the 2015–2019 survey (U.S. Census ACS 2020–2024).
• Median household income in Kenosha, WI is $71,239, up 28.6% over five years (U.S. Census ACS 2020–2024).
• Median gross rent in Kenosha, WI is $1,186 a month, up 30.6% over five years (U.S. Census ACS 2020–2024).
• 41.3% of households in Kenosha, WI rent, about 16,640 renter households (U.S. Census ACS 2020–2024).
• 23% of homes in Kenosha, WI are in buildings with 5 or more units (U.S. Census ACS 2020–2024).
• The rental vacancy rate in Kenosha, WI is 4.4%, and 49.3% of renters spend 30% or more of income on rent (U.S. Census ACS 2020–2024).
• The median home in Kenosha, WI was built in 1970 (U.S. Census ACS 2020–2024).

What We Look For In A Kenosha Apartment Building

We look at buildings with 5 or more units in Kenosha, from small walk-ups to larger garden-style communities, in stabilized or value-add condition. We compare in-place rents with nearby buildings, inspect roofs, plumbing and HVAC, and ask whether better management or targeted renovation can close the gap with the market.

Property taxes are a big line item for any Wisconsin apartment building. We estimate the tax bill as it will be after the purchase, because a sale can trigger a reassessment in many places. Wisconsin has no statewide rent control law, though local rules on notices, fees and deposits still apply. Insurance quotes in Wisconsin reflect winter storm and frozen-pipe claims, so we get a quote before we make an offer.

After a stretch of fast rent growth, we keep rent assumptions modest and leave room for concessions if new supply opens nearby.

Evaluating Apartment Syndications In Kenosha

The data on this page turns into a short checklist for evaluating an apartment syndication in Kenosha.

• What vacancy does the plan assume? Rental vacancy in Kenosha is 4.4%. A plan that assumes much lower vacancy than the market should explain why.
• What rent growth is underwritten? Rents here rose 30.6% over five years. Ask whether the plan assumes that pace continues, and what happens to the deal if rents stay flat.
• How was the property tax bill estimated? A sale often triggers a reassessment, so the bill after purchase can be well above what the seller pays today.
• What capital work is budgeted? The median home in Kenosha was built in 1970, so roofs, plumbing and electrical systems deserve their own line items.
• How will the building hold occupancy? Renter households in Kenosha fell 0.9%, so the plan should show how it keeps units full.
• How and when does capital come back? Ask what the plan is for a refinance or sale, and what happens if that takes longer than expected.

How Passive Investing In A Kenosha Apartment Syndication Works

Two groups make an apartment syndication work. The sponsor, or general partner, handles the deal: finding the building, financing it and running the business plan. The limited partners are passive investors who contribute capital and share in the property's results under the offering's terms.

It's a long-term commitment. The property has to be refinanced or sold before most capital comes back, and the outcome isn't certain. Eligibility rules vary by offering, and most are limited to accredited investors. See investing with Skyline Capital for how we work with limited partners.

Getting Started

The first step is the investor network. It's free, and it's how we share market notes and get to know investors. If we buy in Kenosha or elsewhere and you're eligible, we'll reach out privately with the details.