What is the cost of living in Milwaukee, WI?

In Milwaukee, the median home value is $157,800 and median rent is $982 per month, against a median household income of $49,733. These figures come from the US Census Bureau ACS 5-Year (2022).

How much do you need to earn to live comfortably in Milwaukee?

Milwaukee's median rent of $982/month works out to roughly $39,280 in annual income needed, if you're budgeting the standard 30% of gross pay toward rent. See the full salary breakdown (renting and buying) for Milwaukee.

Is it better to rent or buy in Milwaukee?

Milwaukee's median rent of $982/month translates to about $39,280 a year needed to rent comfortably, versus roughly $36,104 a year for principal and interest on the $157,800 median home (20% down, 30-year fixed, today's rates). How long you'll stay is usually the deciding factor.

Per FBI Crime Data Explorer figures, Milwaukee's violent crime rate was 1145 per 100,000 residents in 2025.

Milwaukee, WI Relocation Guide (2026)

Cost of living, housing, and income data for Milwaukee, sourced from the US Census Bureau.

Salary needed to live in Milwaukee →

573,299

Population

$49,733

Median household income

-31% vs tracked median

$157,800

Median home value

-52% vs tracked median

$982/mo

Median rent

-29% vs tracked median

Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.

Population in Milwaukee, Wisconsin runs approximately 573,299. Median household income sits at $49,733, landing below the benchmark median we track across cities (-31%).

For renters and buyers alike, Milwaukee offers a median home value of $157,800 (below the tracked median, -52%) and median rent of $982 monthly. Local property taxes and current mortgage rates will shape the real cost of buying.

With home values running about 3.2× median income, Milwaukee lands on the affordable side of the housing-cost spectrum. Year-over-year, home values around Milwaukee are up 5.8%, a pace in line with a healthy, unremarkable market. Milwaukee carries a Relatively High hazard rating from FEMA — elevated risk that's typically reflected in higher insurance premiums.

Personal Affordability Check

Your annual household income: $49,733

Comfortable

Renting at $982/mo in Milwaukee would take 23.7% of your income.

$261/mo under the 30% guideline.

Within Budget

Buying the median home ($157,800) would take 20.3% of your income toward principal & interest.

$318/mo under the 28% guideline.

Cost of housing in Milwaukee

Median home value is $157,800 and median gross rent is $982/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.

FHFA's county-level home price index for Milwaukee rose 5.8% over the past year (as of 2025).

HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,338/month.

Climate & home insurance

FEMA rates Milwaukee's overall natural-hazard risk as Relatively High. Risk level is a major driver of home insurance premiums.

Safety

Milwaukee reported a violent crime rate of 1145 per 100,000 residents in 2025, per FBI data.

Moving to Milwaukee

Planning a move to Milwaukee? Compare licensed movers and get quotes based on your origin and move date.

Cost estimates for moving between Milwaukee and nearby popular destinations:

Moving from Milwaukee to Chicago

Frequently asked questions

What is the cost of living in Milwaukee, WI?: In Milwaukee, the median home value is $157,800 and median rent is $982 per month, against a median household income of $49,733. These figures come from the US Census Bureau ACS 5-Year (2022).
How much do you need to earn to live comfortably in Milwaukee?: Milwaukee's median rent of $982/month works out to roughly $39,280 in annual income needed, if you're budgeting the standard 30% of gross pay toward rent. See the full salary breakdown (renting and buying) for Milwaukee.
Is it better to rent or buy in Milwaukee?: Milwaukee's median rent of $982/month translates to about $39,280 a year needed to rent comfortably, versus roughly $36,104 a year for principal and interest on the $157,800 median home (20% down, 30-year fixed, today's rates). How long you'll stay is usually the deciding factor.
Is Milwaukee safe?: Per FBI Crime Data Explorer figures, Milwaukee's violent crime rate was 1145 per 100,000 residents in 2025.

See the full salary breakdown for Milwaukee →