The typical home in Milwaukee, WI is worth about $230,000.
With 20% down that's a loan near $184,000 — the calculator
is pre-filled with that figure. Prices are among the lowest for a metro this size, but Wisconsin's property tax rates are high, so the tax line eats much of the affordability advantage. Low insurance costs are a partial offset.
$1,194.64 / month
Total interest
$246,075
Total paid
$430,075
Payoff
30.0 years
How much you need to earn
Milwaukee, WI's median household income is about
$63,000 a year. Under standard 28/36
lending rules that supports a home price around
$206,823 with 20% down —
below the $230,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Milwaukee, WI is about $1,300 a month, so owning the median home costs roughly
$320 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Milwaukee, WI?
On the metro's roughly $230,000 typical home with 20% down, the loan is about $184,000. Principal and interest run near $1,195 a month at today's rate, and Milwaukee, WI's property tax plus insurance add about $426, for a full payment near $1,620.
Can I afford a home in Milwaukee, WI on the median income?
The median household income is about $63,000 a year. Under standard 28/36 lending rules that supports a home price around $206,823 with 20% down — below the $230,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Milwaukee, WI?
Typical asking rent is about $1,300 a month. The full owner payment on a median home is near $1,620, so owning costs roughly $320 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Milwaukee, WI?
The effective property tax rate in the core county is about 1.70% of market value — roughly $3,910 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Milwaukee, WI rising or falling?
Home values are up about 7% over the past year. Prices are among the lowest for a metro this size, but Wisconsin's property tax rates are high, so the tax line eats much of the affordability advantage. Low insurance costs are a partial offset.