Looking to conduct market research in Milwaukee, WI? Before Drive Research gets started with any market research project, we always analyze the key statistics and demographics to determine the feasibility of the market research, develop strategies, and create a budget.
Although based in Upstate New York, our market research firm serves organizations in Milwaukee and surrounding areas. We are not just one phone call away. Our team member, Tim Gell lives in Milwaukee and can meet in-person to discuss your market research needs.
We’ve already gathered all of the important information you need for your next market research project.
Drive Research understands the key profiles of consumers in the Milwaukee DMA, which helps us gather insightful data, and which ultimately helps you make better decisions for your business.
Who is Drive Research? Why Milwaukee?
From online surveys to focus groups, Drive Research has conducted market research studies for our clients located internationally. From New York, all the way to Chile, we’ve got you covered for all of your market research needs.
As we approach new market areas, we like to dive deeper into the demographics, data, and key statistics to better understand the specific region. To do so, Drive Research uses an in-house proprietary data system, which allows us to perform market analysis in any sized area.
Our system reveals essential information and valuable insights about a specific geography that can help us make better, more effective decisions for our clients in Milwaukee and surrounding areas.
The key statistics, data, and demographics detailed below on population, gender, age, income, education, industries, and housing of Milwaukee residents were populated using our in-house data system.
From 2019 to 2024, the total population of Milwaukee is expected to slightly increase by 0.3%. The population in 2019 was estimated to be 2,346,218. The average household size is 2.5 persons. In 2024, it is estimated the population will increase to 2,353,113.
The total number of households in Milwaukee is also expected to increase by 0.9% between 2019 and 2024. In 2019, there were an estimated 929,206 households. By 2024, it is estimated there will be a total of 937,235 households in Milwaukee.
In 2019, it was estimated Milwaukee was roughly half male and half female, with an exact gender split of 49.2% male and 50.8% female. By 2024, the male population is expected to increase by 0.4%, while the female population is expected to grow by 0.2%. These increases will slightly change the estimated gender breakdown in 2024 to be 49.3% male and 50.8% female.
The median age of the total population in Milwaukee is becoming older. Estimates from 2019 reported the median age of Milwaukee as 38.6 years old. In 2024, the estimated median age is expected to rise slightly to 39.4 years old.
Several age groups will experience significant changes in Milwaukee between 2019 and 2024. The 75 to 84 age group is expected to increase by 21.0%. Meanwhile, the 45 to 54 age group is expected to decrease by 8.1% through 2024.
Between 2019 and 2024, the average household income in Milwaukee will increase by 15.1%. In 2019, the average household income was $83,016. By 2024, the average household income is expected to be $95,590. In 2019, the largest income bracket was $50,000 to $74,999, with just under one in five (18.8%) of households falling within this range.
In 2024, it is estimated that fewer (17.0%) households in Milwaukee will fall in the $50,000 to $74,999 bracket, while one in five (19.9%) will fall within the $100,000 to $149,999 range. This income bracket is expected to become the largest in 2024, increasing by 26.6% between 2019 and 2014.
Between 2019 and 2024, the total number of housing units in Milwaukee is expected to increase by 1.1%. In 2019, there were 1,009,067 housing units. In 2024, projections estimate the total number of housing units will be 1,019,788.
In 2019, over nine in ten (92.1%) of housing units in Milwaukee were occupied. Slightly less than half (42.7%) of these housing units were owner-occupied with a mortgage, while another one in five (19.9%) were owned free and clear. Over one in three (37.4%) of occupied housing units were renter-occupied, while few (7.9%) were vacant.
According to 2024 projections for housing units in Milwaukee, it is expected these percentages will stay roughly the same. The large majority (91.9%) of housing units will be occupied, where just under half (42.4%) will own their home with a mortgage, one in five (20.2%) will own their home free and clear, while over one in three (37.4%) will be renter occupied. The number of vacant housing units will increase by 3.4% between 2019 and 2024 from 79,861 to 82,553.
In 2019, the average annual household expenditure in Milwaukee for shelter was $9,880.59. By 2024, this will increase to $10,884.52.
As of 2019, nearly one in three (29.5%) adults in Milwaukee is a high school graduate and just over one in five (21.4%) have some college, but no degree. Fewer (8.8%) have an Associates, while one in five (20.1%) have earned their Bachelor’s, and one in ten (10.6%) have a Graduate degree. Moving into 2024, these percentages will stay roughly the same.
In Milwaukee, over one in three (39.4%) are employed in the services industry. The most common fields within the services industry include health services (11.4%), educational services (7.4%), and business services (5.7%).
Just over one in six (17.8%) of the workforce are employed in the manufacturing industry, which includes industrial and commercial machinery and computer equipment (3.5%), fabricated metal products (2.2%), and food and kindred products (2.1%). Another one in six (17.0%) are employed in the retail trade industry, which includes eating and drinking places (6.4%), food stores (2.1%), car dealerships and gas stations (1.9%).
In 2019, estimates reported that the top two MOSAIC groups in Milwaukee were Booming with Confidence (18.9%) and Singles and Starters (12.3%). Drive Research uses MOSAIC groups to identify segments of the population with similar demographics and attitudes, beliefs, and values. Below, we’ll dive deeper into the top two MOSAIC groups.
Group 1 - Booming with Confidence
Booming with Confidence is the most prevalent MOSAIC group in Milwaukee, representing nearly one in five (18.9%) households. This group can be described as married couples in their peak earning years who are approaching retirement. These individuals are typically in their 50s and early 60s. Those who fall within the Booming with Confidence group are often highly educated, earn six-figure incomes, and have sophisticated taste.
Group 2 - Singles and Starters
Singles and Starters is the second most prevalent MOSAIC group, representing one in eight (12.3%) of Milwaukee households. This group can be described as young singles and starter families in their 20s and early 30s. Singles and Starters commonly live in apartments in small, satellite cities, are college-educated, and are self-described workaholics with the desire to climb the career ladder.
Fun Facts about Milwaukee
- The average commute in the Milwaukee area is 25 minutes.
- Milwaukee is home to the largest dinosaur head, many breweries, and our Research Analyst, Tim Gell.
- The median home value in 2019 was $210,335, which will increase by 2024 to $238,779.
- Residents of Milwaukee are slightly more likely than average to use a credit union and donate money to charity.
- When driving around Milwaukee, you’re most likely to see Kias, Mitsubishis, and Mercedes-Benzes.
- Milwaukee is only 81 miles from Chicago, IL and 76 miles from Madison, WI!
Drive Research is a national market research company located in New York. Our team has the knowledge and tools to design a robust market research study for all types of organizations in Milwaukee.
Interested in receiving a proposal or estimate for a market research study? Reach out through any of the four ways below.