Milwaukee ranks among the top U.S. cities for entrepreneurs, according to a new report from domain-name company GoDaddy.
The report highlights year-over-year small business growth and puts Milwaukee at 8%, with 2,816 new businesses created. That’s third-highest among U.S. cities, the report says.
“The footprint of American entrepreneurship is shifting deeper into nontraditional places,” Alexandra Rosen, GoDaddy’s small business economist, said in a news release. “The idea that you need to be in a major coastal city to build something has evolved.”
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GoDaddy partnered with real estate company Zillow to include each market’s housing data in the report. The average home value in Milwaukee is $382,830, just above the national average of $366,712, the report says. The typical rent in Milwaukee is $1,540, below the national average of $1,930.
“A thriving local economy and a thriving housing market tend to go hand in hand,” Zillow Chief Economist Mischa Fisher said in the news release. “When housing is attainable and plentiful, entrepreneurs feel more confident putting down roots and businesses find it easier to attract and keep talent.”
Where does Milwaukee rank among entrepreneurial U.S. cities?
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San Antonio, Texas: 11% business growth
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Miami, Florida: 8% business growth
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Milwaukee, Wisconsin: 8% business growth
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El Paso, Texas: 6% business growth
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Portland, Oregon: 5% business growth
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Fresno, California: 4% business growth
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Bronx, New York – 4% business growth
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Tampa, Florida – 4% business growth
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Albuquerque, New Mexico – 3% business growth
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Washington, D.C. – 3% business growth
This article originally appeared on Milwaukee Journal Sentinel: Milwaukee is a top US city for entrepreneurs, new report shows