Average Cost of Living in Milwaukee
Milwaukee is more affordable than its surrounding municipalities. The city's cost of living is 6% lower than the state average and 15.1% below the U.S. average. Health, utilities, and transportation expenses are slightly higher than the rest of the country, but groceries and housing are significantly lower. Neighboring cities range from Brown Deer, which is 4.3% more costly, to Whitefish Bay, which is nearly 40% higher.
Average Home Prices in Milwaukee
Good things aren't always expensive. The median cost of a home in Milwaukee is $123,100, which is $55,000 cheaper than Wisconsin's median of $188,100 and $108,100 lower than the U.S. average of $231,200. Houses in the cities surrounding Milwaukee are more expensive. The average price in Brown Deer is $159,700, and in Glendale, Menomonee Falls, Shorewood, and Whitefish Bay, median costs range between $216,500 and $424,700. In addition to its low prices, there are many rent-to-own homes in Milwaukee, making it an excellent option for people looking to relocate.
If you're interested in Milwaukee rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Milwaukee statistics compared to the U.S. national average.
|Milwaukee Averages||National Averages|
|One-Way Commute||22.4 minutes||26.4 minutes|
|Income Tax Rate||6.3%||4.6%|
|Median Household Income||$35,489||$53,482|
|Median Property Taxes||$3,700||$2,200|
|Median Home Cost||$123,100||$231,200|
|Median Home Age||66 years||40 years|
Popular Amenities and Attractions in Milwaukee
Captain Frederick Pabst paid $254,000 to build and furnish his magnificent mansion by its completion in 1892. The city paid homage to the Milwaukee legend by preserving and restoring his home during its urban renewal period. You can visit the Pabst Mansion to check out the articulate 19th-century architecture and learn about the life and accomplishments of Pabst and the home's subsequent inhabitants. The Miller Brewing Company, founded in 1855, and the Pabst Brewing Company, established in 1844, offer tours that teach the history of Milwaukee's beer industry and everything about old-fashioned and modern brewing and techniques.
Visitors and residents take advantage of the city's location along the Milwaukee River and Lake Michigan. Cruises, fishing, sailing, kayaking, boat tours, and water sports will keep you entertained for days. Stop by the Mitchell Park Horticultural Conservatory, where you'll find plants from around the world, including desert and tropical environments, in this indoor facility. Enjoy a Milwaukee Bucks or Brewers game and choose between close to 100 eateries in the downtown, where you'll also find loads of museums, theaters, ballet, art centers, and festivals.
Milwaukee is a great place to live. Innovative, thriving cities with reasonable housing prices are few and far between. The city has a history of forward-thinking government, a strong economy, and a blend of people from different walks of life who get along happily. The potential for success in this major city with 590,157 residents is endless. The possibility of achieving the American dream is even easier with the many attractive Milwaukee rent-to-own homes available to you.