Green Bay, Wisconsin, provides a diverse economic base for its homeowners. And while it’s best known for its championship football team -- and its cheese -- the Midwest state has a widespread economy that doesn’t really sizzle, it doesn’t really wow, it just stays in there, like a good linebacker who knows his job and does it well – and that’s why it’s a real estate market prepared to move forward in 2008 and beyond.

With estimates for income growth of more than 5 percent per year for the next few years, Green Bay has joined its neighboring counties and metropolitan areas in weathering a slowing real estate market that is set to begin an upward climb in the coming year.

The National Association of Realtors reports, prices at the end of the third quarter for single family homes stood at $163,000 -- up more than 7 percent over the same period last year. Since 2004, average prices are up 13.6 percent in this latest snap shot.

The Wisconsin State department of Revenue has a positive outlook for Green Bay’s economic and income growth rates over the next several years with more than 7,000 non-farming jobs projected to be added to the market in the next two years.

Green Bay has one of the highest homeownership rates in the country at more than 89 percent -- the national average is at 68 percent -- and that’s what makes it a stable market for personal real estate investing.

Published: January 15, 2008

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