Is It Worth Buying a Home in Milwaukee, WI?
The decision to rent or buy in Milwaukee, Wisconsin depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $195,000 and median monthly rent of $1,250, the math plays out differently depending on your personal situation.
Milwaukee has an average property tax rate of 2.18% annually, which adds approximately $354/month to the cost of homeownership on a median-priced home.
Historically, home values in Milwaukee have appreciated at roughly 2.2% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.
Key Factors for Milwaukee Buyers
- Down payment of 20% on a median home = $39,000
- Monthly mortgage (30yr at 6.99%) ≈ $1,037/mo
- Property tax ≈ $354/mo
- Estimated maintenance ≈ $163/mo