Ever thought about investing in the US Midwest? Me neither, but it may actually be a good place to buy investment properties. From lower median sale prices to a solid economy and consistent growth year over year, there’s a lot to consider. As I’m sure you know, real estate is a long-term investment strategy, meaning we aren’t looking for a super-fast cash cow. Instead, we’re looking for a stable, year-over-year investment that will cash flow and build decent equity.
Stevens Point WI Market Overview
To understand the market, the first place we need to look is where it sits right now. The Stevens Point, WI Real Estate Market has a median sale price of $234,950 with 20 homes sold and a median days on the market of 54, according to MK Real Estate, a local brokerage. This is lower than the Wisconsin median sale price of $316,200. While simply comparing median sale prices doesn’t say much for investments, what we care about is where prices are heading.
The answer, much like the rest of the country, is upward. For Stevens Point, it’s at a rate of 13.5% year over year, which is double the Wisconsin average of 6.2% year over year. Plenty of factors contribute to this growth, from strong economic conditions to ample higher education options and much more.
Strong Economic Fundamentals
One of the largest factors making Stevens Point, WI a solid investment is its access to higher education. Stevens Point is home to two higher education institutions: the University of Wisconsin-Stevens Point (UWSP) and Mid-State Technical College. This supports one of the most important factors for economic growth: median age. Stevens Point has a median age of 28.4 compared to Wisconsin’s median age of 40.1. That’s a stark difference and incredibly important for gauging if the economy will grow.
Another major factor is the presence of two large corporations hiring directly from local colleges. Sentry Insurance, a Fortune 1000 company, has its main headquarters in Stevens Point. It even has a beautiful golf course, if I may add. The second company is Skyward, which, while smaller than Sentry, employs upwards of 1,000 people, primarily in Stevens Point. Keep in mind that Stevens Point’s population is only around 25,000.
Population Growth and Demand for Housing
Speaking of population, let’s look at demographics and population growth as these are key factors in choosing investment locations.
Stevens Point Demographics:
- Age: As mentioned earlier, the median age in Stevens Point is much lower than the rest of Wisconsin at 28.4. A lower median age means more working years within the population.
- Education: Stevens Point has a slightly higher than average rate of higher education at 37.6% compared to the Wisconsin Average of 33.8%. Education is often a solid predictor of income later in life.
- Income: The one downside in Stevens Point is income, which isn’t surprising given its lower median age and college-town status. The median income is $53,611 compared to the Wisconsin median of $74,631.
- Employment: Despite lower-than-average income, most likely due to the college, Stevens Point boasts a higher-than-average employment rate at 67.6% compared to the state average of 63.4%.
Attractive Neighborhoods and Community Amenities
Stevens Point is divided into two main sections: the college area and the general population area. Let’s start by focusing on the college section. This is where you’ll find the younger population and, not surprisingly, the highest margins for real estate investment. On this side of town, there are numerous amenities provided by UWSP, such as Schmeeckle Nature Reserve, sports fields, a variety of restaurants, and a steady supply of entertainment from the college.
The general population also boasts quite a few notable places. One being the Stevens Point Area Visitor Center where you can go to find out just about anything about the community. Stevens Point is right on the Wisconsin River with parks all around and if your thirsty check out the Stevens Point Brewery! MK Real Estate Actually says this about Stevens Point WI
Life in Stevens Point means enjoying the beautiful Wisconsin River, local breweries, and great schools, which makes it a perfect place to raise a family or settle down. With lots of parks and recreational activities, you’ll never run outta things to do. So why not come take a look at the homes for sale in Stevens Point and see what all the fuss is about?
Stevens Point boasts plenty to do and drink. Which makes it quite attractive to outsiders especially if they want a higher education.
Investment Opportunities and Types
In Stevens Point, you’ll want to look at college housing, as it offers the highest investment margins. This means focusing on single-family homes with large bedroom counts and multi-family units. An investment here may actually be more affordable than in other places, with the average home price around $235K. Let’s look at an example.
For this we will look a house currently listed at 1540 Clark Street, Stevens Point, WI 54482. The home is listed for $289,900 and is estimated to have a monthly payment of $1,912 with insurance and property taxes say $2,300 per month.
Clark Street is a 9-bedroom home, meaning we could rent it to 9 college students. Being within walking distance of UWSP, we could likely rent it for $450 per person, bringing in $4,050 in monthly revenue and $1,750 in cash flow. Keep in mind, though, that this is on paper, and real-life scenarios don’t always match up perfectly.
Expert Insights and Testimonials
Stevens Point has plenty of Investors including a new apartment complex downtown Stevens Point at 1060 Centerpoint Dr, Stevens Point, WI 54481. There is definitely no shortage in Stevens Point including Michael Kurlayk from MK Real Estate who we mentioned earlier. Think about it why wouldn’t it be a great investment if people talk about it like this
Life in Stevens Point means enjoying the beautiful Wisconsin River, local breweries, and great schools, which makes it a perfect place to raise a family or settle down. With lots of parks and recreational activities, you’ll never run outta things to do. So why not come take a look at the homes for sale in Stevens Point and see what all the fuss is about?
Stevens Point, WI real estate offers a great investment opportunity, especially for those interested in college housing and a growing community. With a low median age, high employment rate, high education rate, and an abundance of activities, Stevens Point, WI could be an ideal spot for your next investment property.
