Milwaukee, WI variant. This is a Milwaukee, WI-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in Milwaukee pits the $49,733 median income against a $170,000 median price - a price-to-income ratio of 3.4x.
Can you afford Milwaukee?
The 28% rule caps housing at $1,160/month on the local median income, supporting roughly $229,492 in price - versus the $170,000 Milwaukee median.
Milwaukee is relatively attainable on the local median income.
About Milwaukee, WI
Milwaukee applies Wisconsin state taxes, and its overall tax and cost burden is moderate for a major Midwestern city.
Milwaukee offers relatively affordable housing compared with other large metros.
Milwaukee has a strong manufacturing heritage and a cost of living below the national average.
Worked example: max price on $49,733
28% of $49,733 ÷ 12 ≈ $1,160/month supports about $229,492 at 6.5% with 20% down - compared with the $170,000 median.
Quick reference
- Median home value: $170,000
- Median rent: $1,300/mo
- Median household income: $49,733
- Local sales tax: 5.5%
- Effective property tax rate: 2.13%
- Cost of living index: 87 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in Milwaukee?
To afford the $170,000 median home, you'd typically need well above the $49,733 local median income at current rates.
What is the price-to-income ratio in Milwaukee?
About 3.4x (median home ÷ median income).