Best Affordable Places to Live in Wisconsin in 2024

Best Places to Live in Wisconsin

A little bit of something can be found for everyone in Wisconsin. Whether you’re looking for waterside, city, or small-town living, you can find it here. Here are our top picks for the best places in Wisconsin to live when cost is a consideration.

💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.

Best Affordable Places to Live in Wisconsin

Compared to the rest of the nation’s cost of living by state, Wisconsin is an affordable state to live in. However, here are our top five overall favorites for the most affordable locations.

1. Madison

Photo credit: iStock/marchello74

As the capital of Wisconsin, Madison has organically and comfortably grown into being a cultural hub of the Midwest. Art, dining, music, and politics are frequently front and center, and the city is also home to the University of Wisconsin-Madison.

Population: 272,903

Median Household Income: $70,466

Cost of Living: 105% of U.S. average

Median Rent Price: $1,610

Home Price-to-Income Ratio: 5.23

Average Property Tax: 2.11%

Housing Affordability: The average rent in Madison is well below the national average. The home price-to-income ratio is fairly low compared to other cities across the country, so it’s an affordable city to live in, even with a slightly higher cost of living.

2. La Crosse

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La Crosse is known for its well-preserved downtown architecture and beautiful surrounding parks. As a college town, it offers many notable restaurants and bars in which to fill your evenings. Plus, there’s usually a festival just around the corner, such as Riverfest or the Blue River Folk Festival.

Population: 51,380

Median Household Income: $47,067

Cost of Living: 92% of U.S. average

Median Rent Price: $1,100

Home Price-to-Income Ratio: 5.05

Average Property Tax: 1.99%

Housing Affordability: The median rent price in La Crosse is steady, with no change year-over-year. Overall, the rental market is cool in this area, so, if this area intrigues you, you may not have much difficulty finding the perfect place. The home price-to-income ratio, however, is 5.05, suggesting your dollar will go further here than in other cities. Visit a home loan help center to learn more about mortgage options.

3. Brookfield

Housing Affordability: The average rent price in Brookfield is more than the national average, and home values have increased over 7% since last year. The rental market, on the other hand, is cool for the city as a whole. If you do want to buy a home in this competitive market, follow these tips to qualify for a mortgage.

4. Green Bay

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Home to the Green Bay Packers, Green Bay is at the mouth of the Fox River and borders Lake Michigan. There is a large paper industry in the region, and the city also has many dining and entertainment options.

Population: 106,095

Median Household Income: $55,221

Cost of Living: 86% of U.S. average

Median Rent Price: $945

Home Price-to-Income Ratio: 3.92

Average Property Tax: 1.83%

Housing Affordability: The median rent in Green Bay is fairly steady, with just a slight increase over last year. The home price-to-income ratio is relatively low at 3.92, so it’s still an affordable city to live in. Overall, the market temperature is cool. If you’re a new homebuyer, use a first-time homebuyer guide to discover how the process works before you start house hunting.

5. Waukesha

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Waukesha is home to Carroll University as well as numerous natural springs. In fact, in the late 19th century, the city’s springs were believed to hold healing powers, and people came from all over the country to sample the waters. Today, the city has festivals throughout the year, and the downtown area has numerous fine dining options.

Population: 70,454

Median Household Income: $71,733

Cost of Living: 93% of U.S. average

Median Rent Price: $1,205

Home Price-to-Income Ratio: 3.25

Average Property Tax: 1.40%

Housing Affordability: The average rent price in Waukesha is on the rise, indicating a fairly warm market. The home price-to-income ratio, however, is 3.25 which is significantly lower than the state average 4.28.

Best Places to Live in Wisconsin for Families

Growing your family and looking for somewhere to spread some roots? Check these cities out to get your imagination rolling.

1. Eau Claire

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Eau Claire, which is French for clear water, has a rising arts and music scene, with music festivals devoted to jazz, folk, bluegrass, country and more sprinkled through the calendar. The city also hosts public family events throughout the year.

Population: 272,903

Median Household Income: $70,466

Cost of Living: 90% of U.S. average

Median Rent Price: $1,275

Home Price-to-Income Ratio: 4.01

Average Property Tax: 1.81%

Housing Affordability: The average rent in Eau Claire is higher than the state average, but is $800 less than the national average. Prices are fairly steady with just a slight rise from the previous year. The home price-to-income ratio is 4.01, which is less than the state average of 4.28. Before you start looking for your next home, learn how the mortgage preapproval process works.

2. Mequon

Photo credit: Flickr/Aaron Volkening , Creative Commons Attribution 2.0 Generic

Mequon is known for its low tax rates, though parents know it better for having one of the best-ranked public school systems in the state. Golf courses and parks can be found throughout the city, and regulations require low-density zoning regulations, so the city still largely consists of farmland.

Population: 25,337

Median Household Income: $135,425

Cost of Living: 105% of U.S. average

Median Rent Price: $2,195

Home Price-to-Income Ratio: 4.22

Average Property Tax: 1.41%

Housing Affordability: Mequon has a home price-to-income ratio of 4.22, which is less than the state average. The average rent in the city, however, is significantly more than the state average. The good news is that the rental market has cooled slightly year over year..

3. Sun Prairie

Photo credit: iStock/Jacob Boomsma

Sun Prairie is the birthplace of Georgia O’Keeffe, and has several museums within the city. Families appreciate its exceptional public school system and surrounding parks, and the city, which has been growing rapidly, has embarked on a systematic development plan to ensure expansion suits all of its communities.

Population: 36,653

Median Household Income: $83,409

Cost of Living: 95% of U.S. average

Median Rent Price: $1,515

Home Price-to-Income Ratio: 4.49

Average Property Tax: 2.11%

Housing Affordability: The average rent in Sun Prairie is slightly higher than last year, but overall the market is still considered cool. But the home price-to-income ratio is 4.49, which is higher than the state average of 4.28.

4. Germantown

Housing Affordability: The home price-to-income ratio of Germantown is just below than the state average. The rental market is heating up, with the average monthly rent higher than it was last year.

5. Wauwatosa

Photo credit: Flickr/Jimmy Emerson, DVM , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic

The city has a charming shopping district known as ‘Tosa,’ and is very close to the Milwaukee County Zoo for animal-loving kids and adults alike.

Population: 47,289

Median Household Income: $90,420

Cost of Living: 102% of U.S. average

Median Rent Price: $1,475

Home Price-to-Income Ratio: 4.01

Average Property Tax: 1.40%

Housing Affordability: The median rent in Wauwatosa is higher than the state average. Potential homebuyers, however, will appreciate the home price-to-income ratio, which is less than the state average. Before you start heading to open houses, learn the difference between mortgage prequalification and preapproval.

💡 Quick Tip: If you refinance your mortgage and shorten your loan term, you could save a substantial amount in interest over the lifetime of the loan.

Best Places to Live in Wisconsin for Young Adults

When you’re just starting your adulting journey, it’s important to be in the right town in order to get a good mix of opportunities and activities. When also considering affordability, we recommend the following five cities for young adults in Wisconsin.

1. Milwaukee

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Milwaukee hosts several large music festivals each year, and is home to eight colleges within the city itself (not to mention several that are on the outskirts of the city). It’s also home to multiple breweries, including Miller and Pabst. Add in dining and shopping, and it’s a hotbed for young adults.

Population: 563,305

Median Household Income: $45,318

Cost of Living: 104% of U.S. average

Median Rent Price: $1,200

Home Price-to-Income Ratio: 4.23

Average Property Tax: 2.53%

Housing Affordability: The average rent in Milwaukee is steadily on the rise. The home price-to-income ratio is just under the state average, so overall it’s a cheaper city than some others in Wisconsin.

Recommended: Different Types of Mortgage Loans

2. Wausau

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Wausau has a number of outdoor recreational activities, such as Wausau Whitewater park and Granite Peak Ski. It also has a bustling downtown area for young professionals to enjoy, along with a vibrant music scene with venues such as The Grand Theater.

Population: 39,833

Median Household Income: $53,800

Cost of Living: 82% of U.S. average

Median Rent Price: $895

Home Price-to-Income Ratio: 3.78

Average Property Tax: 1.87%

Housing Affordability: The average rent in Wausau is cheaper than the state average, but has risen since last year. The home price-to-income ratio, however, is quite low, making it a great place to buy your first home.

3. Kenosha

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Kenosha has several hot spots for young adults, including Simmons Island Beach, Petrifying Springs Park, and downtown Kenosha. While all of those things are worth multiple repeat visits, nothing beats Mars Cheese Castle, which is one of the best specialty food stores in Wisconsin.

Population: 98,484

Median Household Income: $60,219

Cost of Living: 96% of U.S. average

Median Rent Price: $1,275

Home Price-to-Income Ratio: 4.19

Average Property Tax: 2.10%

Housing Affordability: The home price-to-income ratio in Kenosha is 4.19, which is smaller than the state average of 4.28, but bigger than other areas, such as Wausau. The median rent has risen slightly since last year. Still, it’s not a huge spike so you may not have too much competition if you choose to call Kenosha home.

4. Sheboygan

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Sheboygan has plenty of parks for outdoor enthusiasts, such as Kohler-Andrae State Park, and offers shopping opportunities in its downtown district for weekend strolls. Top employers here are Kohler, Bemis Manufacturing, and the cheese company Sargento Foods.

Population: 49,773

Median Household Income: $55,041

Cost of Living: 84% of U.S. average

Median Rent Price: $1,149

Home Price-to-Income Ratio: 3.83

Average Property Tax: 1.84%

Housing Affordability: The average median rent is on par with a lot of cities in Wisconsin, but is slightly more than the state average. While rent prices are on the rise, the home price-to-income ratio is only 3.83. That’s cheaper than both the state average and the national average.

5. Madison

Photo credit: iStock/marchello74

Madison has a bustling farmer’s market and an active performing arts sector. Trails and parks can also be found in and around the city. If you’re on the hunt for a job, this city has seen steady growth. In September of 2023 alone, 7,000 new non-farming jobs were added.

Population: 272,903

Median Household Income: $70,466

Cost of Living: 105% of U.S. average

Median Rent Price: $1,625

Home Price-to-Income Ratio: 5.24

Average Property Tax: 2.11%

Housing Affordability: The average rent in Madison is on the rise from last year. In addition to more expensive rent prices, the home price-to-income ratio is also high compared to the rest of the state. The state average is 4.28, but Madison’s average is 5.24.

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Best Places to Live in Wisconsin for Retirees

When you’re ready to retire, you need somewhere that’s both affordable and active. Check out the five towns below for your next phase of life.

1. Columbus

Photo credit: Flickr/Jimmy Emerson, DVM , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic

While property taxes are higher in Columbus than the state average of $3,007, Columbus City has a fairly large population of people 65 and older. According to the latest census data, 15% of the population consists of retirees. Columbus hosts an antique mall, curling club, and has a few arts and crafts fairs throughout the year.

Population: 5,484

Median Household Income: $62,833

Cost of Living: 94% of U.S. average

Median Rent Price: $1,700

Home Price-to-Income Ratio: 4.27

Average Property Tax: 1.69%

Housing Affordability: The average rent in Columbus saw a big spike over the last year, which could impact affordability for retirees. The home price-to-income ratio is 4.27, which is on par with the state average.

2. Merrill

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Approximately 20.4% of Merrill’s population is 65 years or older and there are a number of things to do in Merrill to keep residents busy, such as golf courses, snow skiing, fishing, and hiking in local state parks. Merrill also has a bustling downtown, complete with shopping, dining, and a movie theater.

Population: 9,122

Median Household Income: $46,973

Cost of Living: 100% of U.S. average

Median Rent Price: $812

Home Price-to-Income Ratio: 3.84

Average Property Tax: 1.65%

Housing Affordability: The median monthly rent in Merrill is on the decline compared to last year. Additionally, the home price-to-income ratio is 3.84, which is significantly lower than many other places in Wisconsin, making it great for seniors on a fixed income.

3. Cedarburg

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Approximately one in five Cedarburg residents is 65-plus. Cedarburg is known for its winery and brewery, and has plenty of outdoor activities to keep you busy while you’re not shopping and dining in its historic downtown. Make sure to visit the Cedarburg Covered Bridge while you’re exploring — it’s picture worthy!

Population: 12,421

Median Household Income: $79,935

Cost of Living: 98% of U.S. average

Median Rent Price: $2,395

Home Price-to-Income Ratio: 5.95

Average Property Tax: 1.41%

Housing Affordability: The monthly average for rent in Cedarburg is higher than other areas on our list. The real estate market is also warm, with the home price-to-income ratio higher than other areas. Currently Cedarburg is 5.95, which is higher than the state average of 4.28.

4. Burlington

Housing Affordability: The average rent has dropped significantly over the last year. The home price-to-income ratio of 4.25 is lower than other areas, but is on par with the state average.

5. Bristol

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I’m nonpartisan , Creative Commons Attribution-ShareAlike 3.0 Unported

With antique malls, golf clubs, wineries, breweries, and a renaissance faire, it’s easy to find something to do any day of the week. Plus, you’re just a few minutes away from cities like Kenosha and Milwaukee. About one-fifth of the residents here are over age 65.

Population: 5,178

Median Household Income: $95,577

Cost of Living: 90.8% of U.S. average

Median Rent Price: $1,370

Home Price-to-Income Ratio: 5.58

Average Property Tax: 2.10%

Housing Affordability: The home price-to-income ratio is high here, with the average home value in Bristol topping $500,000. Rents are more affordable, and the village has recently built new affordable-housing options for those 55 and over.

Best Places to Live in Wisconsin Near the Lake

Nevada is home to mountains, deserts, rivers, and stunning lakes, providing ample opportunity for outdoor recreation.

1. Lake Geneva

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This area offers scenic views year round. Lake Geneva has a number of things to do for every age and income. You could enjoy a lake cruise, museum visit, or a trip downtown after visiting a local winery. Or simply stroll the Shore Path with its views of historic homes and pretty sailboats.

Population: 8,544

Median Household Income: $59,162

Cost of Living: 93% of U.S. average

Median Rent Price: $1,734

Home Price-to-Income Ratio: 5.77

Average Property Tax: 1.72%

Housing Affordability: Lake Geneva’s average rent has dropped slightly from last year. The overall rental market is cool, but the home price-to-income ratio is 5.77 — high compared to other cities in Wisconsin but to be expected in a popular summer tourism destination.

2. Port Washington

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Property taxes are more than double the state average in Port Washington, but the area comes with some serious perks. It has a beautiful harbor and downtown area, local trails, and numerous places to dock your own sea vessel for evening fishing excursions.

Population: 12,753

Median Household Income: $70,333

Cost of Living: 107.2% of U.S. average

Median Rent Price: $893

Home Price-to-Income Ratio: 4.59

Average Property Tax: 1.41%

Housing Affordability: The median rent in Port Washington has been on the downward trend compared to last year. While the home price-to-income ratio of 4.59 is higher than some areas, it’s not too far above the state average of 4.28.

3. Oconomowoc

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Shopping, dining, boating, and fishing opportunities, as well as breweries and wineries, decorate this little town. When you need to stretch your legs, we recommend taking a stroll along the Ice Age Trail for a unique outdoor experience.

Population: 18,505

Median Household Income: $95,914

Cost of Living: 107.3% of U.S. average

Median Rent Price: $1,456

Home Price-to-Income Ratio: 4.54

Average Property Tax: 1.40%

Housing Affordability: Rent in Oconomowoc has dropped substantially year-over-year. The housing market, on the other hand, is slightly more stable. The home price-to-income ratio is about the same for other areas bordering Lake Michigan. It’s 4.54, which is very close to Port Washington’s.

4. Bayfield

Photo credit: iStock/Melissa Kopka

Bayfield is a unique town. You can attend concerts at Big Top Chautauqua, visit a maritime museum, attend unique festivals year round, and hike and shop to your heart’s content. Property taxes are higher than average, but you may just feel you get more than your money’s worth should you choose to move here.

Population: 16,608

Median Household Income: $62,859

Cost of Living: 86.6% of U.S. average

Median Rent Price: $1,375

Home Price-to-Income Ratio: 4.92

Average Property Tax: 1.26%

Housing Affordability: Bayfield has limited rental inventory and rising monthly prices. Home buying is slightly more stable. The home price-to-income ratio is 4.92, which is just a little higher than other areas like Oconomowoc and Port Washington.

5. Ashland

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The average home value here is lower than average. So if you are an outdoor enthusiast, consider checking this area out while it is still relatively affordable. Plus, the local art scene is also alive and well in Ashland, as there are plenty of art galleries and outdoor concerts to enjoy.

Population: 7,874

Median Household Income: $50,053

Cost of Living: 74.7% of U.S. average

Median Rent Price: $975

Home Price-to-Income Ratio: 3.59

Average Property Tax: 1.70%

Housing Affordability: Ashland’s monthly rent prices have experienced a sharp decline since last year. Its home price-to-income ratio is a competitive 3.59, meaning it’s affordable and on the water.

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The Takeaway

Wisconsin’s a big state with a lot to offer. Whether you’re looking for opportunity or affordability (or both), you can find it here. Take your time exploring and consider looking at areas that are off the beaten path. It may just be the best decision you ever made.

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FAQ

Where is the best place to live in Wisconsin year round?

It depends on what you’re looking for, but if you’re looking for things to do, take a look at Milwaukee.

Where are the cheapest homes in Wisconsin?

To find the cheapest homes in Wisconsin, you’ll need to be away from both the lakes and the bigger cities as both home prices and cost of living tend to be higher in these areas. Wausau, which straddles the Wisconsin River, would be a good place to look.

What are the most expensive and cheapest places to live in Wisconsin

Madison, Milwaukee, and Eau Claire are all just slightly higher than the state average for cost of living, but deals can be found with a little looking. Wausau, with a cost of living that is 82% of the U.S. average, is one of the cheapest places to live in Wisconsin.

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