Wisconsin Mortgage Calculator
The median home price in Wisconsin is $280,000. With a 20% down payment at the state's average 30-year fixed rate of 7.08%, your estimated all-in monthly payment (principal, interest, taxes, and insurance) is approximately $2,026. Wisconsin's property tax rate of 1.85% annually is above the U.S. national average of 1.07%.
A buyer earning Wisconsin's median household income of $72,000 would dedicate roughly 34% of gross monthly income to housing — moderately stretched by the standard 28% guideline.
Median Home Price
$280,000
Avg 30-yr Rate
7.08%
Property Tax Rate
1.85%/yr
Est. Monthly PITI
$2,026
Mortgage Calculator
Total Monthly Payment
$2,025.67
Loan Amount
$224,000
Total Paid
$540,840
Total Interest
$316,840
How to Get a Mortgage in Wisconsin
- 1 Check your credit score. In Wisconsin, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $280,000 Wisconsin home, 20% down is $56,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in Wisconsin average 7.08%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $6,720–$11,200 on a median Wisconsin purchase.
- 5 Budget for ongoing costs: Wisconsin property taxes average 1.85%/yr ($5,180/yr on the median home), plus homeowner's insurance averaging $1.100/yr.
Monthly Cost Breakdown — Median Wisconsin Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
Wisconsin Mortgage FAQs
What is the average home price in Wisconsin?
The median home price in Wisconsin is $280,000 (2024 estimate). With a typical 20% down payment of $56,000, a buyer would finance $224,000 at a 30-year fixed rate.
What are property taxes like in Wisconsin?
Wisconsin has an average effective property tax rate of 1.85% of assessed home value. On a $280,000 home, that's approximately $5,180 per year ($432/month) — above the national average of 1.07%.
How much income do I need to buy a home in Wisconsin?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced Wisconsin home, you'd need to earn roughly $86,814 per year. The state's median household income is $72,000, meaning the typical household allocates about 34% of gross income to housing — moderately stretched.
What is the average mortgage rate in Wisconsin?
The average 30-year fixed mortgage rate in Wisconsin is approximately 7.08% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
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