Milwaukee, WI variant. This is a Milwaukee, WI-specific version of the Mortgage 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 Mortgage Calculator.
Milwaukee's $170,000 median home and 2.13% property tax make for a distinctive mortgage payment. High-cost metros front-load the principal-and-interest portion.
Mortgage payment in Milwaukee
On the $170,000 median home with 20% down ($34,000), you'd finance $136,000. At 6.5% over 30 years, P&I ≈ $860/month.
Add Milwaukee's 2.13% property tax (≈ $302/month) plus insurance for the all-in payment.
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: $170,000 Milwaukee home
Loan $136,000 at 6.5% for 30 years → $860/mo P&I. Property tax ≈ $302/mo. Total before insurance ≈ $1,161/mo.
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
How much is a mortgage in Milwaukee?
About $860/month P&I on the $170,000 median home with 20% down at 6.5%.
What is the property tax rate in Milwaukee?
About 2.13% of home value per year.