What is the cost of living in Wisconsin?
The cost of living in Wisconsin is 3.2% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in Wisconsin is $92,622 vs the national average for a family of four with two working parents of $89,744. The median income of a Wisconsin household is $63,293.
The average home price in Wisconsin is $189,200, which is lower than the US average home price of $229,800. Median rent in Wisconsin is $872/mo which is lower than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 3.0 to 1. That means it takes roughly 3.0 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Wisconsin has a high cost of living compared to America as a whole.
People Also Ask About Wisconsin
Is Wisconsin a dangerous state?
No, Wisconsin is not a dangerous state as it ranks as the #12 safest state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Wisconsin ranks 3most dangerous in the United States -- 12.56% better than US average violent crime rate. The property crime rate in the Badger State ranks 39th most dangerous in the United States -- 23.98% better than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Milwaukee, WI a dangerous city?
Yes, Milwaukee is a dangerous city. Milwaukee ranks as the #42 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Milwaukee might be considered dangerous you still need to be aware of where you are. For example, North Granville is the safest in Milwaukee, while Franklin Heights is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Milwaukee ranks 11th highest in America -- 172.53% worse than US average violent crime rate. The property crime rate in the ranks 73rd highest in the United States -- 28.53% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in Wisconsin has the lowest cost of living?
The county in Wisconsin with the lowest cost of living is Dane County. The average living wage in Dane County is $103,834 according to MIT data. Dane County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Wisconsin as a whole. Childcare costs $25,655 a year in Dane County for two children compared to the Wisconsin average of $19,401. Housing costs, defined as a blend of the average rent and average mortgage payment, are $14,532 per year in Dane County compared to $10,946 on average in Wisconsin.
What is the cheapest housing market in Wisconsin?
The cheapest housing market in Wisconsin is Antigo. The average home value in Antigo is $69,400, the lowest in the state. The average home value in Wisconsin is $189,200, almost 2.7 times higher than Antigo.