Mortgage Payment Calculator for Milwaukee, WI
Updated 2026 · Local data pre-filled
The median home price in Milwaukee, WI is $225,000, with an effective property tax rate of 1.80% — higher than the national average of 1.10%. We've pre-filled the calculator with local figures so your estimate reflects what buyers actually pay in Milwaukee.
✓ Calculator below is pre-filled with Milwaukee local data
How Milwaukee Compares to the National Average
Understanding how Milwaukee stacks up helps you calibrate your financial planning.
| Metric | Milwaukee, WI | US Average | Difference |
|---|---|---|---|
| Median Home Price | $225,000 | $420,800 | -46.5% |
| Median Monthly Rent | $1,195 | $1,713 | -30.2% |
| Median Household Income | $56,400 | $74,580 | -24.4% |
| Property Tax Rate | 1.80% | 1.10% | +63.6% |
| Cost of Living Index | 90 | 100 | -10.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Milwaukee Financial Snapshot
- Population (Metro)
- 1,590,000
- Unemployment
- 4.6%
- Avg Commute
- 24 min
- Median Age
- 33.4
- Price-to-Rent Ratio
- 15.7x
- Annual Property Tax
- $4,050
Mortgage Payment Calculator in Other Wisconsin Cities
Frequently Asked Questions — Milwaukee
What is the median home price in Milwaukee, WI?
The median home price in Milwaukee is $225,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Milwaukee?
Median monthly rent in Milwaukee is $1,195. That works out to $14,340/year, or 25% of the median household income — within the commonly recommended 30% of income guideline.
Is Milwaukee affordable?
Milwaukee's cost of living index is 90 vs. the national average of 100. With a median household income of $56,400/year and a median home price of $225,000, the price-to-income ratio is 4.0x. Milwaukee remains relatively affordable compared to many US metros.
What is the property tax rate in Milwaukee?
The effective property tax rate in Milwaukee is 1.80% of assessed value. On the median home of $225,000, that's roughly $4,050/year ($337/month).