Is Wisconsin affordable?

Wisconsin has a cost of living index of about 92, making it 8% below the national average. Milwaukee has very affordable housing with a median price around $230,000, and Madison — while pricier at $400,000 — offers a strong job market and high quality of life. The main financial drawback is a relatively high income tax (top rate 7.65%) and above-average property taxes.

Living in Wisconsin: Income, Housing, Taxes & Cost of Living (2026)

Wisconsin at a Glance

Metric	Value	National Rank
Population (2024)	5.9 million	20th
Median household income	$72,458	Average
Median home price	$270,000	Below average
Cost of living index	92	Below average
State income tax	3.50-7.65%	Above average
Sales tax	5% (+ county 0.5%)	Below average
Property tax (effective rate)	1.51%	Above average

Income and Housing

City/Area	Median Income	Median Home Price	Median Rent (2BR)
Madison	$75,000	$400,000	$1,400
Milwaukee	$48,000	$230,000	$1,050
Waukesha	$80,000	$360,000	$1,350
Green Bay	$55,000	$240,000	$1,000
Appleton	$62,000	$250,000	$1,000
Kenosha	$58,000	$260,000	$1,150
Eau Claire	$55,000	$250,000	$1,000
La Crosse	$50,000	$235,000	$950

Madison vs. Milwaukee: Madison is the state’s economic engine with UW-Madison, state government, and a growing tech scene. Milwaukee is much more affordable but has lower incomes and a shrinking population.

Tax Brackets (2025)

Taxable Income (Single)	Rate
Up to $14,320	3.50%
$14,321-$28,640	4.40%
$28,641-$315,310	5.30%
Over $315,310	7.65%

Wisconsin recently reduced its middle bracket from 6.27% to 5.30%, providing meaningful tax relief for most earners.

Wisconsin Pros and Cons

Financial Pros	Financial Cons
8% below national COL	Above-average property tax (1.51%)
Affordable housing (especially Milwaukee)	7.65% top income tax rate
Low sales tax (5%)	Cold winters (heating $2K-$3K/yr)
Madison has strong job market and quality of life	Milwaukee losing population
Manufacturing and healthcare jobs stable	Limited large metro options