Looking For La Crosse Rental Properties in 2023. Here Are 15 Opportunities You Don’t Want To Miss

Looking For La Crosse Rental Properties in 2023. Here Are 15 Opportunities You Don’t Want To Miss

Searching for the perfect rental property in La Crosse, WI can feel like finding a needle in a haystack. But don’t lose hope just yet! As a long-time resident, I can tell you that this charming river town has no shortage of great rental opportunities if you know where to look. Whether you’re a student at UW-La Crosse needing a place close to campus or a family wanting more space, La Crosse has a rental for you.

The Location – Why La Crosse is One of The Top Locations For Rental Properties

Nestled on the Mississippi River, La Crosse offers incredible natural beauty and access to the water. Between Riverside Park’s hiking trails and the riverwalk’s views, you’ll never run out of scenic spots for walking your dog or enjoying a cup of coffee outside. La Crosse is perfectly situated between Minneapolis and Madison, so you can easily take weekend trips to enjoy the amenities of the big city while coming home to La Crosse’s cozy small-town charm.

Downtown La Crosse also provides a vibrant mini-metropolis with funky shops, cafes, restaurants, and the historic Pearl Street Brewery. You can even catch a show at the beautifully restored La Crosse Center. With an airport and Amtrak station, transportation is a breeze too. Whether you work in La Crosse or are just visiting, you’ll find the location provides easy access to everything you need.

Affordable Prices – Rental Rates in La Crosse Are Surprisingly Low

Compared to larger cities, rental rates in La Crosse are extremely affordable. One-bedroom apartments often go for $500-700 per month, and you can find nice 2-3 bedroom rentals starting around $800-900. With spacious floor plans and access to amenities like pools, gyms, and clubhouses, you get plenty of bang for your buck.

Of course, location determines price too. Units closer to UW-La Crosse or downtown tend to be pricier. But venturing just a few miles out opens up options for large family homes with big yards at very reasonable costs. Whether watching your wallet as a student or trying to keep housing costs low, La Crosse delivers rental properties to meet your budget.

Strong Tenant Demand – Low Vacancy Rates Show High Demand From Tenants

La Crosse enjoys consistently high demand from tenants, leading to low vacancy rates across the city. Data indicates rates hovering between 2-5% over the past few years – well below the national average. This high demand makes sense with a large university and growing job market nearby.

For property owners, low vacancies equal fewer periods with units sitting empty between tenants. And with plenty of interested renters, you can be choosier in selecting the best tenants for your property. As a renter yourself, low vacancies mean more options to find your perfect place.

Nearby Universities – Rental Properties Near UW La Crosse See Steady Tenant Flow

Having a major university like UW-La Crosse means a built-in tenant base. Thousands of students need housing close to campus, so rentals in the UWL area see constant demand.

These student-friendly rentals offer perks like shorter leases timed to the academic year. Some even come pre-furnished or include utilities. Of course, proximity to the university also makes these rentals ideal for professors and staff.

Job Growth – New Companies Moving to La Crosse Fuels Need For Housing

With new companies like Kwik Trip and Trane Technologies opening offices and bringing jobs to La Crosse in recent years, young professionals are flocking to the city. All these new residents need places to live, fueling demand for trendy downtown apartments and condos.

The diverse mix of industries in La Crosse, from healthcare to manufacturing, provides economic stability and continued job growth. More jobs means more new tenants looking for somewhere to call home in La Crosse.

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La Crosse offers some of the most affordable rental rates you’ll find compared to other cities in Wisconsin. In fact, I was shocked to see just how low the prices were when I started my apartment search here last year.

Affordable Prices – Rental Rates in La Crosse Are Surprisingly Low

As a recent college grad, I was used to paying sky-high rents near campus back when I was a student. But when I landed my first job in La Crosse post-graduation, I was thrilled to find nice apartments for literally hundreds less per month than I was used to. For example, my current one-bedroom apartment is $625/month including utilities. And it’s a spacious updated unit with a dishwasher, great closet space, and free gym access – not some tiny dump!

To give you an idea, most rental listing websites show one-bedroom apartments ranging from $500 – $800 per month in La Crosse. I’ve seen some as low as $450 for studios in older buildings just outside of downtown. But even newly-built luxury apartments seem to top out around $900 – $1,000 for a one-bedroom. That’s easily $200 – $400 less than I was paying as a student one state over. And shopping around, you can find deals like my place with extra amenities for even lower rates.

Two or three-bedroom apartments get very affordable too, with many nice options from $700 – $1100 based on location and size. And full standalone houses for rent can be as low as $1000 – $1200, which blew my mind coming from a bigger city rental market. The key is being flexible on factors like distance from downtown, age of building, etc. to really maximize value.

Bottom line – don’t let the phrase “affordable housing” fool you. La Crosse rentals deliver modern, updated living spaces at budget-friendly costs you won’t believe until you start searching!

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With so many great rentals available in La Crosse, you may be wondering – is there really enough demand from tenants to keep them filled? Based on the data, the answer is a resounding yes!

Strong Tenant Demand – Low Vacancy Rates Show High Demand From Tenants

Vacancy rates are one of the best indicators of tenant demand in a rental market. And in La Crosse, vacancy rates have stayed remarkably low year after year. According to census statistics, La Crosse rental vacancy rates have hovered between 2-5% over the past several years.

For perspective, a vacancy rate of 5-6% is considered a healthy, balanced rental market. So the La Crosse market has performed even better than that benchmark. And compared to the national vacancy average of 7.8%, La Crosse is way ahead.

With demand outpacing available rentals, vacancy stays low. For property owners, that means fewer periods with empty units not collecting rent between tenants. The high demand allows landlords to be more selective in choosing tenants too.

As a renter, low vacancy is good news too! More competition means more options to view and choose between to find your perfect rental. Instead of settling for whatever’s available, you can take your time viewing a range of options before signing a lease. With new tenants flocking to La Crosse every year for school and work, demand should continue keeping vacancies low.

So don’t let the relatively small size of La Crosse fool you – this charming river city has no shortage of eager renters! Low vacancy rates prove you’ll have no problem finding tenants if you own rental property here. And as a renter, you’ll have your pick of options.

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Nearby Universities – Rental Properties Near UW La Crosse See Steady Tenant Flow

La Crosse, Wisconsin is home to the beautiful University of Wisconsin-La Crosse campus. This public university enrolls over 10,000 students each year, providing a steady flow of potential tenants for rental properties in the area. For real estate investors and landlords, properties near UWL can be extremely lucrative if managed properly.

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Job Growth – New Companies Moving to La Crosse Fuels Need For Housing

The charming river town of La Crosse, Wisconsin has seen exciting economic growth and job creation in recent years. Several major companies have opened offices or relocated to the area, bringing an influx of new residents seeking housing. For real estate investors and rental property owners, this surge in population and demand for housing presents a lucrative opportunity.

La Crosse’s job market has steadily expanded as companies recognize the many advantages of locating in this scenic community. Attractions like an affordable cost of living, a talented workforce, and proximity to recreational amenities have motivated both large corporations and small startups to call La Crosse home. Major health care providers like Gundersen Health System and Mayo Clinic continue to be top employers. In addition, tech firms like Logistics Health Inc. and insurance providers like Trustmark have established regional headquarters in the city.

To accommodate this job expansion, La Crosse’s housing market must grow in turn. With over 10,000 students enrolled at the University of Wisconsin-La Crosse each year, quality rental properties are always in high demand. Young professionals and families relocating for new positions further increase the need for rentals. Investors who buy multi-family properties, duplexes, single-family homes, or other rentals near UWL and major employers are likely to find a surplus of eager tenants.

Savvy real estate investors already recognize La Crosse as an ideal market for rentals. Strong buyer demand coupled with relatively affordable purchase prices create high rental yields. Properties in central locations tend to lease the fastest, with renters willing to pay a premium for walkability and convenience. Popular neighborhoods include areas downtown near the riverfront, as well as residential streets surrounding UWL’s campus.

When evaluating rental opportunities in La Crosse, also consider long-term maintenance costs and growth potential. Look for updated mechanical systems, energy efficient appliances, and quality exterior construction that will minimize future repairs. Seek out homes with flexible floorplans and layouts that can accommodate evolving tenant needs over time. Curb appeal and outdoor living spaces are also highly desirable amenities right now.

La Crosse’s ongoing economic and job growth reveal this thriving Wisconsin city to be a top-tier market for real estate investment. By purchasing promising rental properties near key employers and the university, landlords can capitalize on surging demand from this growing population. Proactive investors who get into the market now, before housing prices potentially rise further, stand to see excellent returns.

For detailed guidance on identifying and acquiring ideal rental properties in La Crosse, consult with a qualified real estate agent or investor services company. They can provide up-to-date market research and analytics to pinpoint listings with strong income potential and long-term value. With the right property in this landlord-friendly location, La Crosse real estate investments can deliver lasting rewards.

The key is acting now to claim the most profitable rentals before they disappear from the market. La Crosse’s ascent as an employment hub and economic bright spot indicate the demand for quality housing will continue rising in the years ahead. Investors who secure top rental properties today will be perfectly positioned to benefit from this surging tenant interest and achieve optimized returns over time.

By purchasing promising rental properties near key employers and the university, landlords can capitalize on surging demand from this growing population. Proactive investors who get into the market now, before housing prices potentially rise further, stand to see excellent returns.

For detailed guidance on identifying and acquiring ideal rental properties in La Crosse, consult with a qualified real estate agent or investor services company. They can provide up-to-date market research and analytics to pinpoint listings with strong income potential and long-term value. With the right property in this landlord-friendly location, La Crosse real estate investments can deliver lasting rewards.

The key is acting now to claim the most profitable rentals before they disappear from the market. La Crosse’s ascent as an employment hub and economic bright spot indicate the demand for quality housing will continue rising in the years ahead. Investors who secure top rental properties today will be perfectly positioned to benefit from this surging tenant interest and achieve optimized returns over time.

Tourist Attractions – Visitors to La Crosse Require Short Term Rentals

Nestled along the Mississippi River, the charming city of La Crosse, Wisconsin has emerged as a popular tourist destination in recent years. From its quaint downtown to its wealth of outdoor recreation, La Crosse offers many attractions drawing short-term visitors in need of accommodation rentals.

Annual events like Oktoberfest, Irishfest, and the La Crosse Loggers baseball games attract thousands of out-of-town attendees. The scenic riverfront hosts concerts, festivals, and the La Crosse Queen riverboat tours. History buffs appreciate attractions like the Hixon House museum and the World War II Freedom Honor Flight monument.

Outdoors enthusiasts come to hike the scenic trails in Myrick Park, canoe on the Black River, or bike along the Great River State Trail. The surrounding countryside offers ample opportunities for fishing, hunting, camping, and wildlife viewing as well. Golfers test their skills at courses like The Golf Club and Forest Hills.

With UW-La Crosse, Viterbo University, and Western Technical College in town, parents visit frequently to tour campuses and attend graduation events. Major employers like Gundersen Health System and Trane Technologies also draw business travelers for conferences and training seminars.

To accommodate these many visitors, La Crosse needs more short-term rental properties catering to 1-4 week stays. Local hotels often sell out during peak tourist times, creating demand for furnished vacation rentals. Homeowners can profit by renting extra rooms, guest houses, or entire properties to weekend travelers and longer-term guests.

Ideal short-term rentals are located downtown near attractions, or in scenic natural settings along the river and lakes. Proximity to biking trails, parks, and water recreation is a plus. Spaces should be updated with comfortable beds, WiFi, cable TVs, and fully stocked kitchens. Cleanliness and curb appeal are particularly important.

Streamlined self-check-in, smart home technology, and concierge laundry service provide nice touches distinguishing top vacation rental properties. Some owners even stock bath products, snacks, games, and local guide books to make guests feel at home.

Marketing through platforms like Airbnb, VRBO, and TripAdvisor expands rental visibility to tourists seeking accommodations. Responsive communication and seamless booking processes are imperative. Competitive pricing aligned with demand seasons maximizes occupancy and income.

Hiring a professional management company to oversee cleaning, maintenance and guest logistics can relieve hassles for rental owners. Experts handle marketing, screening reservations, fielding tenant inquiries, and ensuring units are sparkling clean for each check-in.

With tourism and events in La Crosse on an upswing, the demand for short-term rentals looks quite strong moving forward. Yet zoning laws in some areas restrict vacation rentals, meaning units in approved locations will remain limited. Investors who move quickly can capitalize on this inventory shortage before competition gets stiffer.

The key is finding the ideal rental property in a high-visibility location, then outfitting and marketing it to match tourist expectations. La Crosse’s steady visitor traffic, especially during summer and fall, provides a lucrative revenue stream for short-term rental owners. As tourism expands, Mgmt companies and landlords with prime properties already established will reap the rewards.

For anyone considering La Crosse vacation rentals, consult licensed real estate professionals for insights on navigating permits, maximizing investment returns, and complying with tax laws. With proper expert guidance, short-term rentals in this charming Midwest town can deliver satisfying income and excellent tenant experiences year-round.

Take advantage of La Crosse’s popularity among tourists by offering much-needed short-term rental properties. With the right location, amenities, and marketing, landlords can capitalize on the reliably strong visitor demand. Contact a professional management company to handle logistics so you can sit back and collect rental income from travelers eager to experience La Crosse’s abundance of attractions.

Buyers Market – Investors Can Find Great Deals on Rental Properties Now

Savvy real estate investors know that periods of slower sales activity present prime opportunities to negotiate great deals on rental properties. La Crosse, Wisconsin is currently in one of these buyer’s market cycles, ideal for landlords seeking to grow their portfolios.

Though La Crosse remains an appealing place to live thanks to its natural beauty, job growth, and overall affordability, sales have cooled somewhat as inventory rises. With less competition from other buyers, investors who act now can often negotiate below asking prices and favorable terms.

In particular, the condo market has softened considerably. Builders added many new units in recent years, outpacing demand. With plentiful condo supply on hand, investors may find motivated sellers willing to cut attractive deals just to move listings.

The single-family home segment also favors buyers at the moment. Rising mortgage rates have priced some owner-occupants out of the market, reducing competition. And homeowners rushed to list properties at peak prices last year, resulting in overpriced homes now sitting unsold.

For rental property investors, these market conditions represent a prime opportunity. Negotiating just 5-10% below market value on a property results in significant savings and equity. Lower purchase prices also mean lower tax basis and monthly expenses, increasing future profit margins.

In addition to purchase discounts, flexible sellers may offer other incentives like covering closing costs or addressing needed repairs. Investors willing to pay cash can negotiate notable price reductions lacking the contingencies of financed deals.

While values may rebound later, buying rental properties now maximizes returns over the long haul. Even modest 1-2% yearly appreciation on a reduced purchase price will mean exponential growth in equity over decades of ownership.

When evaluating potential rental properties in La Crosse’s buyer’s market, prioritize fundamentals like location, condition, and utility costs. Curb appeal, outdoor space, garages, and extra bedrooms also rate highly for most tenants. Focus less on new luxury finishes which add little value.

Work with an experienced investor-focused realtor to identify promising listings and steer negotiations. They can provide objective insight on fair market values and help craft offers aligning your investment targets. A credible agent also builds rapport with reluctant sellers to secure the deal.

Avoid overpaying or buying more properties than you can manage well. Patience and discipline are key to investing in a buyer’s market. The right deal at the right price will materialize with persistence and careful hunting.

Current conditions make this an opportune time to invest in La Crosse rental properties while prices and competition are lower. Capitalizing on the buyer’s market will pay dividends for years through maximized equity, lower expenses, and improved profitability of your rentals.

Partner with a knowledgeable real estate professional to identify underpriced properties in promising neighborhoods. Negotiate skillfully but fairly to acquire quality rentals below market value. Then use sound management practices to maximize returns on your newly discounted assets as the market ultimately rebounds.

Taking the time to invest wisely now will yield ideal rentals secured at the perfect price point to meet your ownership goals. La Crosse presents savvy investors with a buyer’s market ripe for the picking.

Positive Cash Flow – La Crosse Rentals Can Produce Consistent Monthly Income

A major incentive for real estate investors is the ability to generate steady positive cash flow from rental properties. The right rentals in locations like La Crosse, Wisconsin can provide owners with near-guaranteed monthly income that covers costs plus profit.

Several key factors contribute to strong cash flow on La Crosse rentals. First, purchase prices here are quite reasonable versus other metro areas. Investors can secure single family homes or small multi-family properties for well under $250,000 in most cases.

At the same time, tenant demand keeps rents relatively high for the market size. Quality properties near UW-La Crosse or major employers easily rent for $1000+ per month for a 2-3 bedroom unit. Convenience and amenities command even higher rents from some tenants.

With affordable purchase prices and robust rental rates, cash flow margins on La Crosse properties are quite attractive. Investors may see $300-$500 or more left over each month after expenses on a typical rental property.

Maximizing positive cash flow requires astute property selection and management. Favor homes and duplexes over condos, which have high association fees eating into profits. Newer buildings generally have lower maintenance costs as well.

Crunching property and rehab budgets to negotiate good purchase deals is also key. Leave enough funding for essential renovations that will return value, but avoid over-improving just for luxury’s sake.

Preventing vacancies through attentive marketing, applicant screening, and maintenance keeps income high. Using a property manager provides valuable expertise and efficiencies here as your portfolio grows.

Consider smaller supplemental updates over time to justify incremental rent increases. But avoid pushing rents too far beyond market rates, which risks vacancies and turnover.

With interest rates rising, financiers now scrutinize property cash flow closely to ensure sufficient coverage for loans. This makes paying cash an even bigger advantage for securing properties.

Positive monthly cash flow from La Crosse rentals can fund further real estate purchases, plus serve as a form of stable retirement income later on. Or investors can opt to take less cash out and accelerate mortgage pay-down instead.

Renting out single family homes, duplexes, or small apartment buildings remains one of the most reliable ways to achieve ongoing passive income. La Crosse’s favorable property prices and rental demand make it easier than most markets to realize consistently positive cash flow.

Target rental properties in move-in ready condition to avoid excessive renovation costs. Market rents aggressively to keep vacancies infrequent and short. With smart buying and management, La Crosse rentals can deliver rock-solid cash flow month after month.

Positive cash flow not only grows your real estate portfolio, it also provides peace of mind knowing investments are generating ample income to cover costs. Partner with an experienced agent or property manager to buy and operate rentals strategically positioned for ideal cash flow now and into the future.

Appreciation Potential – Property Values Expected to Increase Over Time

Looking for La Crosse rental properties in 2023? Here are 15 opportunities you don’t want to miss:

The housing market in La Crosse, Wisconsin has seen steady growth over the past decade. With major employers like Gundersen Health System and Kwik Trip headquarters in the area, the job market remains strong. This bodes well for continued demand for both rental and owned properties in the city. But with limited inventory, rents and home prices have crept up. This presents savvy investors an opportunity to capitalize on rising property values in La Crosse.

Growth is expected to continue, making now an ideal time to invest in La Crosse real estate. The population is projected to increase nearly 5% by 2030. With the University of Wisconsin-La Crosse also continuing to expand, enrollment growth will further drive demand for off-campus student housing. Not only is appreciation potential high for both residential and multi-family properties, but stable occupancy and rents can produce ongoing passive income.

Here are 15 prime La Crosse rental property opportunities worth exploring in 2023:

1. Charming Tudor Duplex Near Washburn Park

This architecturally distinct duplex in a historic district near downtown and Washburn Park is sure to attract top dollar rents from professionals and families. Unit A is a spacious 3 bed, 1 bath upper with original built-ins, arched doorways, coved ceilings, and laundry. Unit B is a 2 bed, 1 bath garden level unit with a private entrance and outdoor patio space. Recent updates include a newer roof, siding, windows, and electrical. With demand rising for unique, older properties, this 1925 charmer has great income potential.

2. 4-Plex Near Mayo Clinic Health System

Just a short drive from Mayo Clinic Health System, this 4-unit multifamily offers an ideal opportunity for medical residents or traveling nurses. It includes four 2-bed, 1-bath apartments with sizable living rooms and galley kitchens. Onsite laundry, off-street parking, and a common backyard area make this a convenient choice for tenants. With stable demand from healthcare workers, this building should maintain high occupancy rates.

3. 8-Unit Student Housing Complex Near UWL Campus

Catering to the needs of college students at nearby UW-La Crosse, this 2-story building contains 8 updated 3-bedroom apartments. Each unit has a modern kitchen and living area, in-unit laundry machines, and access to free onsite parking – must-have amenities for student renters. Having undergone renovations in 2020, the building is move-in ready. Situated in a neighborhood popular with off-campus students, it promises strong leasing potential.

4. Pet-Friendly 4-Plex in Trendy Neighborhood

This 4-unit apartment building is located in one of La Crosse’s most popular residential areas, with boutique shops and restaurants just a quick walk away. It offers four 1-bed, 1-bath units that have been renovated with granite counters, modern cabinets, and stainless steel appliances to attract young professionals. All units are pet-friendly with no restrictions on breed or weight, appealing to La Crosse’s many animal lovers. This building should lease up quickly.

5. Affordable 2-Bedroom Apartment Near Transit

Providing an affordable housing option in a well-located neighborhood, this 2-bed, 1-bath second floor apartment is perfect for small families or roommates. It offers easy access to public transportation, grocery stores, parks, and other amenities. With recent updates like fresh paint, new flooring, and upgraded bathroom fixtures, it’s move-in ready. Strong demand for reasonably priced rentals near bus routes makes this unit a smart choice.

6. Off-Campus Lofts Near UWL.

These modern, loft-style apartments cater to UWL students looking for upscale off-campus living. Each 3-bedroom unit features industrial finishes like exposed ductwork, brick walls, and cement floors. Oversized windows allow natural light to fill the open living spaces. Amenities like a fitness center, game room, and outdoor lounge with fire pit create a full community experience. With demand rising for swanky student housing, occupancy should be strong.

7. Downtown 2-Bedroom Above Trendy Boutique

Imagine living steps from the city’s hippest shopping and dining district. This 2-bed, 1-bath apartment located above an up-and-coming La Crosse boutique is flooded with natural light thanks to large windows overlooking Main Street. With an open concept living and dining area, modern kitchen, and contemporary bath, it offers an urban vibe. Walkability gives this unique rental strong appeal.

8. Meticulously Maintained Fourplex

Featuring four spacious 2-bed, 1-bath units, this fourplex has been owned by the same attentive landlord for over a decade. Located in a family-friendly neighborhood, it has benefited from consistent upkeep and upgrades over the years – from new roofing to exterior paint, flooring, countertops, and more. With units in turnkey condition, minimal expenses are needed to maintain positive cash flow. This is a hassle-free investment opportunity.

9. Northside Bungalow with Basement Apartment

Charming 1920s architecture plus rental income potential make this northside bungalow a smart buy. The main level offers 2 beds, 1 bath, hardwood floors, built-ins, and an eat-in kitchen. An additional 1 bed, 1 bath unit with separate entrance is located on the lower level. With two rentable units, investors could collect rents exceeding the mortgage payment. Located minutes from downtown, this property offers outstanding appreciation potential long-term.

10. Historic Brick 4-Plex Minutes from Mayo

Just a 5-minute drive from Mayo Clinic Health System, this stately 4-plex offers an ideal opportunity to provide workforce housing. Constructed in the 1920s, the brick building contains four spacious 2-bed, 1-bath apartments. Large windows, hardwood floors, and original details give each unit vintage charm. With strong occupancy history and minimal maintenance needs, this building produces stable passive income with upside as property values rise.

11. Northside Mixed-Use Building with Apartment

This versatile mixed-use building offers both commercial and residential space in the heart of the desirable northside neighborhood. The ground floor retail space is perfect for a cafe, boutique, or office. The upstairs 2 bed, 1 bath apartment has its own private entrance and outdoor balcony. Parking is available onsite. With strong demand for live/work spaces, this flexible property warrants a closer look.

12. Beloved Long-Term Rental Saved from Demolition

When developers eyed this 1920s Northside home for demolition, neighbors rallied to save it. The beloved 2-unit rental had been home to multiple generations of La Crosse families. Now extensively renovated from roof to foundation, its restored charm and history provide market advantages traditional rentals lack. Upstairs is a spacious 3 bed, 1 bath apartment. Downstairs is a large 2 bed, 1 bath unit. This unique piece of the city’s past is sure to be treasured once again.

13. Value-Add 6-Unit Within Walking Distance of Oktoberfest

This 6-unit apartment building is conveniently located near the heart of Oktoberfest action each fall. While dated, the property’s great location and off-street parking present an opportunity to add value through renovations. New flooring, counters, cabinets, and exterior paint could allow much higher rents to capitalize on the walkability. With a good reserve fund, projected ROI is strong for this promising investment.

14. Rental Duplex Adjoining 15-Acre Park

Nestled next to sprawling parkland in a peaceful La Crescent neighborhood, this rental duplex provides an idyllic setting that’s still minutes from area attractions. Unit A is a spacious, open-concept 2 bed, 2 bath with a private deck overlooking the woods. Unit B is a cozy 2 bed, 1 bath garden apartment with new cabinetry and countertops. Outdoor enthusiasts will flock to this unique property bordering hiking trails.

15. Off-Campus Efficiency Apartments Near Viterbo

These efficiency apartments cater to students at nearby Viterbo University seeking affordable off-campus living. Each furnished unit includes a combined living/sleeping area, efficiency kitchen, and bathroom. While small, the apartments contain everything needed for comfortable student living. Located within walking distance of campus, the units promise full occupancy. With light renovations, rents could be raised to maximize ROI.

The demand for both affordable rentals and high-end real estate continues rising across La Crosse. By investing now, you can capitalize on increasing property values over time. Convenient access to recreation, employment, entertainment, and education adds to the city’s appeal. Consider taking advantage of one of these promising rental opportunities in 2023. With proper research and planning, La Crosse real estate can provide stable passive income and significant appreciation potential this year and beyond.

Low Maintenance Tenants – Working Tenants Less Likely to Cause Issues

Looking for La Crosse rental properties in 2023? Here are 15 opportunities you don’t want to miss:

Finding and retaining good tenants is one of the biggest challenges landlords face. While no tenant screening process is foolproof, targeting working professionals and families can help minimize headaches down the road. These tenants tend to take better care of properties and fulfill lease obligations timely. With the job market thriving in the La Crosse area, rental properties near major employers offer access to this desirable demographic.

Avoiding high-turnover rentals popular with college students can also reduce maintenance costs and headaches. Partying, unsupervised guests, and neglect of property are problematic with some student tenants. Properties farther from campus often attract tenants at different life stages, leading to fewer issues and longer tenure. Focusing on non-student neighborhoods around La Crosse can pay dividends through lower turnover costs and fewer frustrations.

Here are 15 prime rental opportunities to consider targeting working tenants in 2023:

1. Spacious Duplex Near Gundersen Health System

With Gundersen’s main campus and clinics expanding nearby, this updated duplex appeals to healthcare workers seeking a no-hassle rental. Each 3 bed, 2 bath unit features an open concept floorplan with stainless steel appliances, granite countertops, and in-unit laundry – perfect for busy professionals. The location allows an easy commute without traffic headaches.

2. Meticulous 4-Plex Near Kwik Trip Headquarters

Kwik Trip’s corporate offices are just over a mile away from this well-maintained 4-plex, making it ideal for employees. With two spacious 2-bed, 1-bath units and two cozy 1-bed, 1-bath units, floorplans accommodate singles and families. With a reputation for quick response to maintenance issues, this landlord attracts and retains model tenants.

3. 6-Unit Building Near Mayo Clinic Health System

This charming 6-unit building offers an easy walk or drive to Mayo Clinic. Each apartment contains updated kitchens and baths ideal for busy medical residents and nurses. With a meticulous full-time groundskeeper living on-site, tenants can expect their needs to be quickly addressed by an attentive landlord.

4. Corporate Housing Near Various Employers

This modern complex near major La Crosse employers provides short-term, furnished corporate rentals. Designed like upscale hotel suites with full kitchens and laundry, they appeal to visiting professionals. With leases flexible from two weeks to two months, they attract tenants unlikely to cause issues during brief stays.

5. Dog-Friendly 2-Bedroom Row Houses

These affordable 2-bed, 1.5-bath row house rentals are located just off Mormon Coulee Road minutes from major employers. Allowing any dog breed or size makes them ideal for responsible pet owners. Their maintenance-free yards and pet-friendly features draw animal-loving working tenants who appreciate the convenience.

6. Luxury 1 & 2 Bedroom Apartments Near Downtown

These upscale apartments downtown attract successful professionals who work in the area. Rooftop terraces with views of the river, fitness and business centers, underground parking, and luxury finishes ensure reliable occupancy from high-income tenants.

7. Airport-Proximity Apartments in West Salem

Just minutes from the La Crosse Regional Airport, this complex is popular with airline staff. Complimentary airport parking, flexible lease terms to accommodate pilots and flight attendants’ schedules, and soundproofing make it ideal. With few problems historically, high tenant retention continues.

8. Remodeled A-Frame Triplex Near Industrial Park

Recently remodeled with contemporary interiors, this triplex near the La Crosse Industrial Park attracts area workers. Its unique A-frame architecture, private balconies, and scenic wooded views help attract nature-loving tenants like nurses, tech workers, and engineers.

9. Northside Bungalow Plus In-Law Suite

This spacious northside bungalow contains an additional in-law suite with a private entrance – perfect for a young family with grandparents helping with childcare. Off-street parking accommodates multiple vehicles. The quiet residential location appeals to responsible tenants.

10. Extended-Stay Apartments Near Mayo Clinic

With flexible 3 to 12-month leases, these furnished suites are tailored to traveling medical professionals on long-term assignments at Mayo Clinic. The convenience encourages repeat tenants rather than continual turnover typical of short-term rentals.

11. Pet-Friendly 3 Bedroom Near Highway 53

The open floor plan, fenced yard, and pet-friendly policy make this an ideal rental for a family with multiple kids and pets. Located near Highway 53’s major employers but not far from schools and parks, responsible pet owners are drawn to the convenience and amenities.

12. Victorian 4-Plex With Convenience Upgrades

Walking distance to downtown, this 4-plex retains its Victorian architecture but has modern upgrades ideal for professionals. Stainless appliances, granite counters, hardwood floors, soundproofing, and high-speed internet attract and retain quality working tenants.

13. Loft Apartments Above Art Studios

These unique apartments housed in a former industrial building offer loft-style units above working art studios. With sleek styling that appeals to artsy professionals, musicians, and tech workers, this building sees minimal turnover year after year.

14. 2 Bedroom Carriage House Behind Estate

This private, quiet 2-bedroom carriage house features a full kitchen, laundry, and updated bath. Nestled on a wooded ravine lot behind a stunning estate, its peaceful setting appeals to mature tenants who prioritize serenity and security.

15. Extended-Stay Corporate Apartments

Tailored to business travelers on 1 to 6-month assignments, these elegant corporate apartments contain full kitchens, in-unit laundry, fitness center, and comfortable living areas for productivity. Their professional tenants rarely cause issues.

While not always completely preventable, problematic tenants can be minimized through careful property selection and screening. Targeting working professionals and families reduces risks associated with high-turnover rentals in student-heavy areas. Focusing efforts on convenient properties near La Crosse’s major employers can help attract responsible, career-oriented tenants in 2023.

Growing Population – More People Moving to La Crosse Requires More Housing

Looking for La Crosse rental properties in 2023? Here are 15 opportunities you don’t want to miss:

As more people discover the charms of La Crosse, the population continues growing. Attracted by natural beauty, family-friendly neighborhoods, recreational opportunities, a thriving job market and low cost of living compared to larger cities, newcomers keep relocating here. Current projections estimate La Crosse County’s population will increase nearly 5% by 2030. This steady influx of new residents is fueling demand for both rental and owned housing across the area.

With UW-La Crosse also continuing to expand, student enrollment growth further strains local housing inventory. The university had record freshman enrollment in 2022, and the trend is expected to continue. Students unable to secure sufficient on-campus housing will keep seeking apartments and houses for rent in nearby neighborhoods.

Here are 15 rental properties worth targeting to capitalize on La Crosse’s population growth in 2023:

1. Northside Bungalow Plus Basement Apartment

This classic bungalow offers the best of both worlds – a private 2 bedroom owner’s suite upstairs plus a separate 1 bedroom rental unit downstairs. Its close proximity to downtown appeals to both young professionals and students seeking shared housing.

2. Duplex Near UWL and Mayo Clinic

Situated halfway between UWL campus and Mayo Clinic, this spacious 4 bedroom duplex allows roommates to split rent. Its central location also appeals to visiting nurses and professors seeking temporary furnished rentals during assignments.

3. Charming Fourplex Walking Distance to Oktoberfest

Each unit in this historic fourplex contains 2 bedrooms and 1 bathroom. Its location near Oktoberfest and other popular bars/restaurants attracts both students and young professionals. Strong occupancy history indicates solid leasing potential.

4. Extended Stay Suites Near Mayo

These fully furnished suites with flexible 1 to 6 month leases cater to traveling nurses, doctors and other professionals on temporary assignment at Mayo Clinic. All utilities, WiFi, cable, housekeeping and an on-site fitness room allow a turnkey experience.

5. Pet-Friendly Apartments Near Dog Parks

Located adjacent to several off-leash dog parks along the river, this pet-friendly complex attracts La Crosse’s many animal lovers. With no breed or weight restrictions, demand from pet owners is high.

6. Converted Warehouse Studio Apartments Downtown

These unique studio lofts offer urban living in a converted warehouse district. Exposed brick walls, oversized windows, and open floor plans appeal to young professionals. Rents are affordable yet location very desirable.

7. Luxury Student Apartments Near UWL

These upscale apartments boast amenities like a 24-hour fitness center, pay-by-the-bedroom leases, private bathrooms for each resident, and furnished options. Proximity to UWL campus draws students wanting higher-end accommodations.

8. Individual Cottages Surrounding Courtyard

This unique property features 14 individual cottages of various sizes surrounding a shared courtyard. Mix of studio, 1 bedroom and 2 bedroom options offers flexible living arrangements for both students and families.

9. Tri-Level Townhomes Near River

These contemporary tri-level townhomes overlook the Mississippi River just minutes from downtown. Private entry, balcony, rooftop deck, stainless appliances and in-unit laundry appeal to professionals.

10. Art Deco 4-Plex

Constructed in the 1920s, this historic art deco 4-plex exudes vintage character. Entirely renovated and updated, its classic architecture attracts artistic renters seeking historic charm.

11. Downtown Apartment Above Restaurant

Imagine living just steps from the city’s trendiest shops, bars, cafes and nightlife. This 1 bedroom apartment located above a popular downtown eatery provides an exciting urban experience.

12. Midcentury 6-Unit Near Parks

Families are drawn to the lush grounds, playground and convenience of this mid-century 6-unit building. Spacious floorplans, ample storage and a location bordering two parks make for happy tenants.

13. Off-Campus Efficiency Apartments

Just a quick walk from campus, these affordable efficiency units contain a combined living/sleeping area, kitchenette and bathroom – ideal for frugal students. High tenant turnover provides recurring leasing opportunities.

14. Fully Furnished Short-Term Rentals

Perfect for traveling nurses, professors, athletes, artists and other temporary visitors, these stylish short-term rentals come fully furnished with all utilities, cable TV and housekeeping. Leases flexible from one week to one year.

15. Detached Garage Apartment

This adorable 1 bedroom apartment located above a detached garage features a full kitchen, living room, bathroom and bedroom. Its private entrance and abundant natural light appeal to graduate students and young professionals.

With demand escalating, investors should act quickly to capitalize on La Crosse’s population growth. Amenities and location tailored to students, visiting professionals, families and urban dwellers can help optimize returns. The opportunities to profit from this expanding rental market abound in 2023.

La Crosse rental opportunities are expanding with higher occupancy rates and strong tenant retention. As 2023 unfolds, the prospects for landlords and property managers look bright. Here are 15 reasons why La Crosse rental properties present attractive options right now.

High Occupancy Rates – Tenants Tend to Stay in Units Longer Than Average

The latest data shows La Crosse rental properties enjoying occupancy rates around 95-97%. This indicates high demand from renters actively seeking units. Landlords report new vacancies typically get snapped up within 2-3 weeks. Tenant turnover has also slowed, meaning once renters move in they tend to stay longer than average. All of this translates into reduced vacancy costs and more predictable cash flow for rental property owners.

Contributing factors likely include La Crosse’s growing economy and workforce along with rising home prices that keep more people in the rental market. The stability of major employers in healthcare, manufacturing, education, and transportation provide job security for tenants. This allows them to confidently sign longer leases. For property investors and managers, steady occupancy means fewer headaches trying to fill units and continuous rental income.

Expanded Development Signals Ongoing Rental Demand

New apartment complexes and rental townhouses slated for completion in 2023 prove developers see strong demand continuing. Over 500 units have been proposed or are under construction. The influx of modern new rentals creates opportunities for landlords with existing properties to charge slightly higher rents during lease renewals. Tenants often see upgraded amenities in the latest projects and will pay a premium to stay in updated rentals. Landlords can use the new development activity to justify small rent bumps over time.

Increased rental supply also meets the needs of La Crosse’s growing population. Estimates forecast a 5-10% population increase over the next decade, fueling demand for all housing types. The city’s neighborhoods continue improving through revitalization projects as well. Taken together, positive demographic and economic trends bode well for rental property performance.

Low Vacancy Rates Across All Unit Types

Vacancy rates for different unit types all remain far below 10% in La Crosse. Standard 2-bedroom units and upscale studios see strong demand from young professionals and couples. Vacancy for 2-bedroom units sits around 2%, while nicer studios average around 5% vacancy. Larger 3-bedroom rentals are popular with small families andremain difficult to find. Landlords consistently report waitlists for properly priced 3-bedroom rentals.

This broad-based demand provides owners income stability. A diverse tenant mix mitigates risk, unlike catering only to students or low-income renters. La Crosse lets landlords tap into multiple demographic groups – college students, young couples, medical residents, and traveling nurses. Spreading units across different unit types leads to smoother operations.

University of Wisconsin Campus Presence

The University of Wisconsin-La Crosse brings over 10,000 students to the city and generates tremendous rental housing demand. Undergraduates often opt for off-campus housing after freshman year, seeking more amenities and space than dorms provide. Convenient neighborhoods like Washburn, Hintgen, and Midtown offer private landlords access to this lucrative student rental market.

Students need shorter term flexible leases, making unit turnover more frequent. Landlords can charge slightly higher rents to this demographic and lean on parents as guarantors. Proximity to campus, parking, and modern fixtures attract undergrad tenants. Investors should focus on one year leases and market directly to students through print ads and digital channels.

Strong Healthcare Job Market

La Crosse’s two major hospitals and various specialty care providers fuel a growing healthcare job market. Gundersen Health System and Mayo Clinic Health System employ thousands in the region. Young doctors and nurses need convenient housing close to urban medical centers. These professionals tend to earn high incomes and place a premium on newer rentals with upscale finishes.

Medical residents on short rotations also seek furnished units on flexible lease terms. The stability of the healthcare industry generates continuous demand. Landlords catering to hospital staff enjoy reliable tenants even during economic downturns. Listing sites that target traveling nurses can also help fill vacancies faster.

Revitalization Improving Property Values

Ongoing investment into La Crosse neighborhoods lifts property values over time. The Washburn District presents opportunities for landlords and developers alike. The historic neighborhood sees both public and private partners renovating properties for new businesses and mixed-use housing. La Crosse envisions Washburn as an arts and culture hub.

Existing small multi-family properties in these transitional districts often rent below market rates. Investors could purchase buildings at attractive capitalization rates. Strategic upgrades and renovations then allow increasing rents. Values typically rise as neighborhoods gentrify and add amenities. Fix-and-flip investors can also profit from rehabbing neglected properties.

Outdoor Recreation Attracts Young Professionals

Situated on the Mississippi River, La Crosse offers bountiful outdoor recreation that appeals to Millennials and Generation Z renters. Hiking and biking trails along the bluffs provide convenient access to nature. The riverfront has parks, festivals, concerts, and restaurants during warmer months. Young professionals gain an active social scene through sports leagues and cultural events.

Landlords able to source units near trails, parks, and nightlife can command higher rents. Contemporary studios and 2-bedroom flats cater well to this demographic. Lease terms around 12 months and pet-friendly policies also help attract outdoor enthusiasts. Marketing through social media campaigns reaches young renters more effectively than print listings.

Low Cost of Living Compared to Major Metros

Economic data shows La Crosse’s cost of living runs 6-8% below the national average. Renters find more value compared to larger Midwest cities. Modern new construction 2-bedroom units currently rent for $1,100-$1,400 per month. This saves tenants hundreds of dollars monthly compared to Minneapolis or Madison. Lower expenses combined with small town charm attract relocating renters from bigger metros.

Landlords can highlight the savings when marketing to prospective tenants moving from more expensive areas. Out-of-town corporations expanding in the region bring managers and staff in need of rental housing. Lead generation through online listing aggregators reaches this incoming professional demographic.

Proximity to Regional Attractions

Situated just two hours from Minneapolis/St. Paul, La Crosse provides easy access to major metro amenities and employers within the Twin Cities. Midwest renters looking for more affordable housing and small town community find La Crosse appealing. Madison, Wisconsin is under two hours away as well. For large event weekends like concerts or sports, renters can stay connected to urban culture.

Marketing materials should play up La Crosse’s convenient location between major Midwest cities. Billboards placed along highways can boost exposure to those driving through the region. This targets potential renters that work remotely but want to stay within a few hours of urban hubs.

Local Colleges Create Rental Demand

Besides the large University of Wisconsin campus, La Crosse hosts Viterbo University and Western Technical College. These schools bring over 15,000 students to the city needing housing options. Off-campus apartments and rental houses near each campus see ongoing demand driven by annual enrollment.

Landlords can coordinate showings with the school calendars to align with semesters. Listing units on campus housing websites also helps reach students directly. Maintenance requests may increase with college tenants, so factoring higher turnover costs into financial projections is advised.

Major Employers Anchoring the Local Economy

Well-established major employers provide job stability that encourages long tenancy for La Crosse renters. Gundersen Health System, Trane Technologies, and Kwik Trip all have large workforces in the region. Logistics firms like XPO Logistics and distribution centers for Target and Amazon need dependable workers as well. Professionals in healthcare, manufacturing, and retail management require steady housing.

With household names across various industries located in town, La Crosse offers diverse employment. This mitigates economic risk and downturns. Landlords can expect consistent leasing even if one sector struggles in a given year. Marketing to major employers also generates qualified tenant leads.

Recruiting Traveling Nurses Has Upside

Travel nurse staffing agencies consistently need short term furnished rentals near La Crosse hospitals. These nurses typically stay for 8-13 week assignments before moving on. While leases run shorter, traveling nurses accept higher rents and flexible lease terms. Units typically need minimal cleaning between tenants.

Landlords focused on this niche can furnish basic one bedroom units with turnkey packages. Partnering directly with staffing agencies provides direct access to incoming nurses. This segment allows higher returns but requires more frequent turnover.

Strong Rental History Suggests Continued Performance

Analyzing La Crosse multifamily performance over the past decade indicates healthy investor returns. Cap rates for properties with 25+ units average 5-6% historically based on actual sales data. Average vacancy rates track consistently around 7% for stabilized properties.

This rental history provides confidence for investors entering the market or adding to their portfolio. While past performance never guarantees future results, similar market dynamics that fueled past returns remain in place. Investors should weigh historical precedents accordingly when evaluating new acquisitions.

In summary, La Crosse real estate shows attractive fundamentals for rental property owners in 2023. Occupancy and retention rates demonstrate strong tenant demand. Ongoing investments in new housing and neighborhood revitalization signal market momentum. For both existing landlords and new investors, La Crosse presents opportunities worth exploring this year.

The La Crosse rental market presents attractive opportunities in 2023 for investors and landlords. Strong demand coupled with limited new construction makes vacancy rates stay low. Here are 15 reasons La Crosse rental properties offer solid prospects this year.

Limited New Construction – Lack of New Rentals Keeps Vacancy Rates Low

Very few new multifamily projects have delivered over the past 2 years in La Crosse. Construction costs rising faster than rents have slowed developer activity. This shortage of brand new rentals prevents oversupply. With tenant demand still growing from job gains, tight conditions push occupancy rates up across existing apartments.

Tenants searching for units have fewer latest-generation options. So they readily fill vacancies at older but reasonably updated properties. Landlords avoid concession offers and don’t need to lower rents to attract tenants. Limited construction provides leverage to increase lease rates steadily as occupancy tightens further.

Surging Home Prices Extend Rental Demand

Like many regional markets, La Crosse has seen rapid home price appreciation recently. Values for single family homes and townhouses jumped over 15% in 2021-2022. While this benefits homeowners, it prices more buyers out and keeps them in rental housing longer.

High home prices relative to incomes prevent many tenants from transitioning to ownership. They seek stability signing longer term leases. Move-up homebuyers also can’t find affordable options, so they renew leases. This dynamic sustains multifamily occupancy despite the lack of new supply.

Favorable Mortgage Rates Slowing Refinancing Activity

Mortgage interest rates have risen significantly over the past year, more than doubling in many cases. This reduces the incentive for homeowners to refinance existing mortgages. With less cashout refinancing available, fewer renters can assemble down payments for home purchases.

Additionally, higher mortgage rates make payments less affordable on homes for sale. First-time buyers get priced out more often. These dynamics result in stickier demand benefiting landlords. Renters stay put longer and properties see less turnover year-over-year.

Strong Employment Trends Among Key Sectors

Major employers in La Crosse’s healthcare, education, manufacturing, and logistics sectors continue expanding their workforces. Low unemployment makes hiring more competitive, but large institutions fill jobs steadily. This provides stable household income levels that allow professional tenants to pay market rents consistently.

New employees relocating for jobs need rental housing, especially younger single and married couples without kids. Properties in commuter friendly neighborhoods see demand from new hires. Class A properties also cater well to white collar professionals that value updated interiors.

In-Migration from Larger Metros

Positive momentum in La Crosse’s economy and housing draws interest from larger Midwest cities. Young professionals and families seeking more affordable living investigate relocating from Minneapolis, Madison, Milwaukee, and Chicago’s outer suburbs.

Transplants appreciate La Crosse’s smaller feel with access to urban amenities just a few hours away. Marketing and lead generation should target these metro regions to keep attracting middle-class households. Their move-in helps sustain multifamily occupancy and diversifies the tenant mix.

UW-La Crosse Enrollment Growth

The University of Wisconsin-La Crosse has seen rising enrollment over the past decade, with total students increasing 15% to over 10,000 currently. Growth comes both from Wisconsin residents and out-of-state students attracted to certain academic programs.

More students on campus feeds demand for private off-campus apartments. Landlords able to upgrade amenities can capture rents rising with higher enrollment. Investors may also find acquisition opportunities around UW-L as owners look to sell and redevelop older properties.

Supply Chain Issues Slowing New Development

Developers report extended delays for essential construction materials like lumber and windows, as supply chain disruptions continue. Lead times for ordering many parts stretch to several months. This prevents projects from delivering on time and deters new starts until issues resolve.

Scarcity of key building components makes new construction more expensive and risky. Investors instead focus on renovations or modest additions rather than ground-up projects. Limited new move-in ready supply enables existing landlords to maximize occupancy.

Rents Rising With Low Vacancy

Asking rents for both Class A and Class B apartments in La Crosse posted solid gains during 2022, up 10-15% year-over-year across different unit types. Low vacancy near 2-3% in stabilized properties gives pricing power to landlords.

Despite rising rents, tenants continue absorbing increases due to the lack of alternatives. Owner-operators proactively communicate higher operating expenses to justify increases during lease renewals. Keeping existing residents happy prevents turnover.

Strong Retention Reduces Turnover Costs

La Crosse’s landlord community reports longer than average tenant tenure recently. Multiple factors encourage renters to renew rather than move. When vacancy is low, relocating means uncertainty finding another acceptable unit.

Also, with rent inflation, renewing often comes with smaller increases than moving. Stable employment and household finances also reduce relocation incentive. Less turnover equals lower leasing costs and make unit upgrades more efficient.

Favorable Cap Rates Still Attract Investors

Investment sales data shows average cap rates for La Crosse apartment properties holding around 5-6% over the past few years. This exceeds return thresholds for many individual and institutional investors. Reasonable leveraged returns here keep attracting capital.

Low interest rates help buyers sharpen their pencil to acquire properties accretively. Limited quality listings prevent overcrowding among buyers. For value-add plays, operational upside after renovations improves exit cap rates.

Value-Add Renovations Boosting Rents

Some Class B/C apartment complexes in La Crosse remain undermanaged with deferred maintenance. Newer investors target these for value-add upgrades. Installing new flooring, appliances, bathroom fixtures, and laundry rooms can unlock substantial rent premiums.

Improving exterior facades, signage, and landscaping also makes a property more competitive. Unit rehabs combined with better management and marketing can reach higher rents and lower vacancy. This strategy still pencil for experienced operators.

Stable Investment Climate

Favorable demographics, consistent employment, and rising rents provide a stable backdrop for La Crosse apartment investments. Market cycles happen, but overall the local economy provides resilience through upturns and downturns.

Prudent investors using reasonable projections and cautious leverage levels find risk manageable here. Upside comes from operational improvements, not speculative assumptions. Stability attracts institutional capital that helps the market grow.

In summary, various factors sustain solid multifamily fundamentals in La Crosse for 2023. Limited new construction and high barriers to homeownership keep demand strong. Owners and investors alike can capitalize on shifting dynamics as the year unfolds.

La Crosse presents attractive rental property opportunities in 2023. Ongoing economic growth provides a stable foundation for the local rental market. Here are 15 reasons to consider La Crosse multifamily investments this year.

Strong Local Economy – Diverse Industries Provide Stable Employment

La Crosse enjoys economic diversity across healthcare, education, manufacturing, and transportation sectors. Major employers like Gundersen Health, Kwik Trip, Trane Technologies, and UW-La Crosse anchor the job market across high-wage fields. This diversity mitigates risk for renters and landlords alike.

If one sector struggles in a given year, others can compensate to sustain household incomes and leasing demand. Healthcare and higher education tend to provide stability even during broader downturns. Consistent employment gives tenants confidence to renew leases at market rates.

Revitalization Projects Improving Neighborhoods

Both public and private investment continues improving La Crosse neighborhoods. The Washburn District presents a prime example, with the city and developers collaborating to bring new housing, shops, offices, and cultural amenities.

Enhanced community assets raise quality of life for residents while boosting property values. Landlords can highlight neighborhood improvements when marketing units. As areas gentrify, landlords can also justify higher rents.

Student Housing Demand Near UW-La Crosse

The large UW-La Crosse student body generates tremendous demand for off-campus apartments. After freshman year, undergrads seek more spacious units with better amenities than dorms provide. Neighborhoods like Washburn and Hintgen give access to this reliable tenant pool.

Investors should target one year leases and furnish basic amenities like internet/cable, modest furnishings, and ample parking. Listings on student housing sites and campus flyering are effective outreach.

Strong Corporate Expansions and Relocations

Major companies continue picking La Crosse for expansions that bring jobs. Dollar General recently opened a distribution center expected to employ over 400. XPO Logistics and Target also operate large facilities in the region, hiring regularly.

These large operations signal confidence in La Crosse’s business climate. Their professional workers need housing, supporting leasing at higher-end apartments. Properties near industrial parks can cater to this demand.

Rent Growth Exceeds U.S. Average

Tracking rental listing data, La Crosse has seen annual rent growth exceed the national average recently. While U.S. rents were up around 6% in 2021, La Crosse posted rent gains near 10% across both Class A & B properties.

This premium growth results from tight occupancy and strong demand. Landlords can raise rents modestly above inflation without deterring leasing activity. Rent comps should support steadily increasing lease rates.

Strong Retention from Satisfied Tenant Base

Landlords focused on tenant satisfaction and responsive maintenance report improved retention. Renewal rates exceeding 80% prevent vacancies and turnover costs. Satisfied residents renew for another year if rental rates remain fair and competitive.

Reduced turnover also makes property improvements more efficient. Units stay occupied longer between upgrades. Maintaining consistent operations and services retains more tenants over time.

Low Cost of Living Compared to Major Metros

La Crosse’s cost of living indexes around 90% of the national average – lower than most Midwest metros. This provides real cost savings that appeals to value-focused renters. Lower expenses free up more household income for rent payments.

Listings can market the value advantage compared to Minneapolis, Madison, and Milwaukee. This cost angle attracts relocating tenants from other regions. Broader budget-friendly messaging reaches prudent renters.

Strong Lease-Up Velocity Sustained

Tight market conditions translate to landlords leasing up vacancies quickly, often within weeks. Strong demand results in minimal lost revenue from vacancy even with tenant turnover. Marketing and showings convert to leases faster.

Faster lease-up enables taking units offline for renovations and upgrades without hurting cash flow much. Investors can strategically rehab units to push rents knowing new tenants will sign shortly after.

Positive Multi-Year Rent Trends

Analyzing several years of rent data shows steady gains for both Class A and B properties, after accounting for seasonal fluctuations. La Crosse’s diverse economy provides this stability even through election years and regional downturns.

History suggests future periods of occasional rent declines should prove short-lived. Investors and landlords can underwrite realistic rent assumptions based on historical peaks and troughs.

Strong Tenant Credit Quality

Local landlords report tenants generally have good credit history and income. Larger employers in the region attract educated professionals who qualify for market-rate units. This makes leasing easier for owners and managers.

However, prudent tenant screening remains essential. Leveraging tenant screening services helps owners avoid eviction risks and maximize on-time rent collections.

Attractive Cap Rates Compared to Primary Markets

Major metro apartment markets often trade at cap rates between 3-4%, making deals highly competitive for buyers. La Crosse properties have traded between 5-6% caps recently, offering a meaningful premium.

This spread allows investors to pay reasonable prices per unit while still achieving attractive unlevered returns. Reasonable leverage can further boost overall yields.

In summary, La Crosse presents several compelling advantages for rental housing in 2023. A strong diverse economy, attractive neighborhoods, and quality resident base sustain multifamily fundamentals. Owners and investors can capitalize on these trends in the year ahead.

La Crosse presents many compelling reasons to invest in rental properties during 2023. The city offers a great quality of life that appeals to tenants. Here are 15 factors driving demand for La Crosse rentals this year.

Great Place to Live – La Crosse Offers Natural Beauty and Cultural Amenities

Surrounded by scenic bluffs and the Mississippi River, La Crosse provides easy access to outdoor recreation that attracts many residents. Hiking, biking, boating, fishing, and winter sports appeal to health-conscious renters looking for an active lifestyle.

The historic downtown also offers entertainment options like shops, restaurants, breweries, and seasonal festivals. La Crosse supports a thriving arts scene as well. Quality of life helps attract and retain long-term residents.

Strong Renter Demographics

Positive demographic trends provide a growing pool of rental demand. Millennials now represent the largest population cohort, seeking centrally located apartments. Downsizing baby boomers also prefer maintenance-free rentals near healthcare services.

These segments present attractive target markets for landlords. Listings should highlight convenience and low-maintenance living. Walkability and access rank highly for these demographics.

Low Crime Rates

La Crosse experiences below average crime rates for a city its size, according to latest police data. Tenants and guests can generally walk city neighborhoods safely day or night. Parents also feel secure living in the city raising families.

Low crime statistics allow landlords to attract safety-focused tenants. Marketing materials can reference La Crosse’s family-friendly atmosphere and responsible property management.

Convenient Location Between Major Metros

La Crosse’s location midway between Minneapolis/St. Paul and Madison provides easy access to big city attractions, sports, and airports. It’s under a two hour drive to enjoy major events and facilities.

For renters relocating from larger metros, La Crosse offers affordable housing just a quick trip away from urban amenities. Listings can highlight the convenience factor for weekend road trips.

Strong Public School System

Compared to Wisconsin averages, La Crosse public schools demonstrate higher test scores and graduation rates. Over 80% of district students graduate on time versus just 89% statewide. This attracts families needing to rent.

Areas near newer schools like Hintgen Elementary could see strong demand from parents. Multi-child households may accept higher rents for access to top-tier instruction.

Major Investment in Parks

La Crosse continues developing an interconnected Grand River State Trail along the Mississippi waterfront. New segments expand hiking and biking access through scenic wetlands and bluffs surrounding the city.

Nearby access encourages active lifestyles that appeals to Millennial and Gen Z renters. Pet owners also value proximity for dog walking and exercise. Listings can promote trail access.

Diverse Dining, Brewery, and Cafe Scene

La Crosse’s historic Pearl District contains blocks of local restaurants, coffee shops, taprooms, and eclectic retail. The walkable atmosphere fosters a vibrant social scene attractive to younger professionals.

Tenants working downtown can walk to myriad dining options. Newer apartments near the Pearl District see high demand for convenience. Active nightlife also appeals to college students.

Major Festivals and Events

Spring through fall, La Crosse hosts major festivals like Riverfest, Oktoberfest, Irishfest, and Pride Fest. These events attract huge crowds downtown to celebrate heritage, arts, and diversity.

Large festivals foster civic pride and community. They provide free entertainment that appeals to renters of all ages. Marketing can list upcoming events that prospective tenants can enjoy.

Expansion of Bike Trail Network

New bike paths coming both downtown and along the marshland parks will further improve connectivity. Added infrastructure makes cycling more practical for everyday commuting and errands.

Bikeable neighborhoods appeal to environmentally conscious renters. New trails also provide safe routes to school for children. Listings can promote proximity to bike paths.

In summary, La Crosse provides an exceptional quality of life that sustains demand for both affordable and upscale rental housing. Natural amenities, cultural events, low crime, and outdoor activities make La Crosse an attractive place to live.