Estimated Monthly Payment — Median Wisconsin Home
$2,215
Based on $290,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$290,000
Property Tax
1.85%
Avg. HOA
$150/mo
Median Rent
$1,100/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Wisconsin housing market
Wisconsin's housing market is well below the national average, with a median home price around $290,000. Milwaukee is the largest metro, with Madison a close second. Wisconsin's home prices are moderate, but property tax rates rank among the highest in the country, meaningfully raising monthly carrying costs. Wisconsin's effective property tax rate of 1.85% is one of the highest in the country.
The median Wisconsin home costs $290,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $1,497, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $2,215. First-time buyers in Wisconsin can explore programs through Wisconsin HFA.
Photo by Nils Huenerfuerst on Unsplash
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FAQ
Wisconsin mortgage FAQs
What's the property tax rate in Wisconsin?
Wisconsin's effective property tax rate averages about 1.85% — one of the highest in the country. On a $290,000 home, that's roughly $447/month or $5,365/year.
How much do I need to earn to afford a typical Wisconsin home?
Using the 28/36 rule, a buyer would need roughly $83,000–$106,000 in gross annual income to comfortably afford Wisconsin's $290,000 median home with 20% down at current rates.
What first-time buyer programs are available in Wisconsin?
WHEDA offers the WHEDA Advantage Conventional and FHA programs with up to $10,000 in DPA, plus the Easy Close DPA Loan for closing cost help. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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