A home for sale in Appleton, April 19, 2023. PC: Fox 11 Online
(WTAQ-WLUK) — After years of experts saying Wisconsin needs more housing options, statewide demand is decreasing.
It comes as a new housing study forecasts Wisconsin will see a drop in population in the coming years.
Forward Analytics, a nonpartisan research organization based in Madison, reports only about 84,000 homes will be needed by the end of the decade. That’s quite a change from the group’s 2023 study, which estimated 140,000 homes would be needed.
“You’re seeing a lot of young people moving out, maybe not be able to find housing, and then at the same time, as that 65+ age group grows, they tend to own and remain in their homes longer,” Forward Analytics Research Analyst Jacob Anderson said.
Anderson said the biggest loss in Wisconsin is among 25 to 64-year-olds. The analysis shows the working-age population in Wisconsin will decrease by around 200,000 people by 2030.
Anderson said the answer to bringing people back is building more housing.
“Before, the focus was really on business creation would drive people to an area, which is still very much true — but it’s becoming more and more important to just build housing to drive people to your area,” Anderson said.
He said multiple other factors have led to the drop, including people having fewer kids than in past generations, jobs and housing availability and affordability.
According to real estate website Zillow, the average home value in Brown County is $352,830 — up 5.4% from 2025. In Outagamie County, the average home value is $340,630 — a 6.8% increase over last year.
Anderson said despite the report predicting less housing needs, the state should aim to build 228,000 homes to attract more residents.
“The goal should be for the state to continue to grow and thrive,” Anderson said.
He said the more working-age people the state can attract, economic growth in Wisconsin will follow.
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