Milwaukee, Wisconsin has a cost of living approximately 6% below the national average, making it an affordable alternative to nearby Chicago.
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Quick Answer: Milwaukee Cost of Living
| Category | Milwaukee | US Average | Difference |
|---|---|---|---|
| Overall | 94 | 100 | -6% |
| Housing | 82 | 100 | -18% |
| Groceries | 97 | 100 | -3% |
| Utilities | 98 | 100 | -2% |
| Transportation | 100 | 100 | 0% |
| Healthcare | 97 | 100 | -3% |
Index: 100 = national average
Milwaukee Housing Costs
| Housing Type | Monthly Cost |
|---|---|
| 1-bedroom apartment (city center) | $1,200-$1,700 |
| 1-bedroom apartment (outside center) | $900-$1,200 |
| 2-bedroom apartment (city center) | $1,500-$2,100 |
| 2-bedroom apartment (outside center) | $1,100-$1,500 |
| Median home price | $190,000 |
| Median rent | $1,100 |
Milwaukee Neighborhood Comparison
| Neighborhood | 1BR Rent | Median Home | Character |
|---|---|---|---|
| Third Ward | $1,500-$2,000 | $400,000+ | Trendy, riverfront |
| East Side | $1,200-$1,600 | $280,000 | College, young |
| Bay View | $1,100-$1,500 | $250,000 | Artsy, up-and-coming |
| Walker’s Point | $1,200-$1,600 | $300,000 | LGBTQ-friendly, dining |
| Shorewood | $1,200-$1,600 | $340,000 | Walkable, lakefront |
| Wauwatosa | $1,300-$1,700 | $350,000 | Family suburb, village feel |
| Brookfield | $1,400-$1,800 | $420,000 | Upscale suburb |
| Whitefish Bay | $1,400-$1,900 | $450,000 | Affluent, good schools |
Monthly Expenses Breakdown
| Expense | Single Person | Couple | Family of 4 |
|---|---|---|---|
| Rent (avg) | $1,200 | $1,500 | $1,800 |
| Utilities | $130 | $160 | $200 |
| Groceries | $350 | $600 | $890 |
| Transportation | $320 | $480 | $580 |
| Healthcare | $200 | $390 | $600 |
| Entertainment | $170 | $290 | $440 |
| Total | $2,370 | $3,420 | $4,510 |
Salary Needed to Live in Milwaukee
| Lifestyle | Single | Couple | Family of 4 |
|---|---|---|---|
| Survival minimum | $34,000 | $50,000 | $66,000 |
| Comfortable | $53,000 | $82,000 | $105,000 |
| Living well | $78,000+ | $115,000+ | $150,000+ |
Milwaukee vs Other Cities
| City | Cost Index | vs Milwaukee |
|---|---|---|
| Milwaukee | 94 | — |
| Chicago | 107 | +14% |
| Madison | 105 | +12% |
| Minneapolis | 102 | +9% |
| Indianapolis | 91 | -3% |
| Detroit | 88 | -6% |
| Cleveland | 90 | -4% |
Milwaukee Income and Employment
| Metric | Value |
|---|---|
| Median household income | $47,000 |
| Average salary | $55,000 |
| Unemployment rate | 4.2% |
| Top employer | Aurora Health Care |
Top Industries in Milwaukee
| Industry | Major Employers |
|---|---|
| Healthcare | Aurora, Froedtert |
| Manufacturing | Harley-Davidson, Rockwell |
| Finance | Northwestern Mutual, Robert W. Baird |
| Utilities | WE Energies |
| Food & Beverage | MillerCoors, Klement’s |
| Education | Marquette, UW-Milwaukee |
Milwaukee Taxes
| Tax Type | Rate |
|---|---|
| Wisconsin state income tax | 3.54%-7.65% |
| City income tax | None |
| Sales tax | 5.5% (Milwaukee County) |
| Property tax rate | 2.4% |
Note: Wisconsin has relatively high property taxes
Is Milwaukee a Good Place to Live?
Pros:
- Much cheaper than Chicago
- Lake Michigan waterfront
- Good food and beer scene
- Strong German heritage
- Friendly Midwest culture
Cons:
- Cold, snowy winters
- High property taxes
- Segregation issues
- Limited transit outside downtown
Milwaukee vs Chicago
| Factor | Milwaukee | Chicago |
|---|---|---|
| 1BR rent | $1,200 | $1,800 |
| Median home | $190,000 | $300,000 |
| Income tax | 3.54%-7.65% | 4.95% flat |
| Commute | Easier | Longer |
| Job market | Smaller | Much larger |
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