Milwaukee vs Chicago: Cost of Living & Housing Comparison
Milwaukee's median home value is $157,800 — 48% lower than Chicago's $304,500.
Median household income is $49,733 in Milwaukee versus $71,673 in Chicago.
Typical rent runs $982 in Milwaukee and $1,314 in Chicago.
| Metric | Milwaukee, WI | Chicago, IL |
|---|---|---|
| Population | 573,299 | 2,721,914 |
| Median home value | $157,800 | $304,500 |
| Median household income | $49,733 | $71,673 |
| Median gross rent | $982 | $1,314 |
| Climate risk (FEMA) | Relatively High | Very High |
On housing costs, Milwaukee, WI looks more affordable than Chicago, IL — lower median home value and rent. This reflects housing only, not total cost of living.
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Sources: U.S. Census Bureau American Community Survey; FEMA National Risk Index
Data last updated July 2026.