Compare different loan terms using your home price of $350,000 with $70,000 down at 6.8%.
15-Year Fixed
$2,401/mo
Total interest: $152,141
Total cost: $432,141
Save $221,646 vs 30-year
20-Year Fixed
$2,088/mo
Total interest: $221,025
Total cost: $501,025
Save $152,762 vs 30-year
30-Year Fixed (Current)
$1,816/mo
Total interest: $373,787
Total cost: $653,787
Lowest monthly payment
Pro
Professional Simulator
Complete financial model: closing costs breakdown, rent vs buy, inflation-adjusted returns, true cost of ownership
years
%
%
%
%
10-Year Net Gain/Loss
-$173,685
After selling in year 10 at $493,710
Total Paid Over Hold Period
$398,929
Down + closing + all payments
Home Value at Sale
$493,710
3.5%/ yr appreciation
Selling Costs
$29,623
6% of sale price
Net Sale Proceeds
$225,244
After mortgage payoff + selling costs
Real Interest Rate
4.25%
Nominal 6.8% - inflation 2.5%
Real Monthly Payment
$1,254
Today's dollars (mid-loan)
State Property Tax
$5,600
TX rate: 1.6%
True Monthly Cost
$2,499
PITI + HOA + maintenance
Buying a Home in Wisconsin
Wisconsin offers affordable home prices at an average of $270,000, but buyers need to carefully account for the state's above-average property tax rate of 1.61%. In absolute dollar terms, annual property taxes on a typical Wisconsin home run about $4,300 — adding roughly $360 per month to the cost of ownership beyond principal, interest, and insurance. Understanding property taxes is especially important when comparing Wisconsin to neighboring states like Minnesota or Iowa.
Madison is Wisconsin's crown jewel market — a Big Ten college town with a vibrant food scene, beautiful lakes, and consistently high rankings for quality of life. The University of Wisconsin's research enterprise and UW Health create a highly educated professional workforce, while the state government provides stable employment. Madison's housing market is persistently undersupplied relative to demand, keeping prices rising and competition fierce. Eastern Milwaukee suburbs like Wauwatosa, Whitefish Bay, and Fox Point offer high quality of life with historic housing stock at premium prices.
Green Bay, Appleton, and the Fox Valley corridor offer strong Midwest value with family-friendly communities and a manufacturing-based economy. Eau Claire in western Wisconsin has emerged as a vibrant smaller market, attracting retirees and remote workers from the Twin Cities. The Door County peninsula and Wisconsin Dells area represent vacation and resort property markets operating on their own dynamics.
Key Housing Facts for Wisconsin
Average home price: $270,000
Average effective property tax rate: 1.61%
Average homeowners insurance: $1,100/year
Most competitive markets: Madison, Wauwatosa, Whitefish Bay, Shorewood
Value markets: Green Bay, Appleton, Eau Claire, Racine
Resort markets: Door County, Wisconsin Dells, Lake Geneva
Frequently Asked Questions
Wisconsin's average effective property tax rate is approximately 1.61%, one of the higher rates in the Midwest. On a $270,000 home, you'd pay roughly $4,347 per year in property taxes. Wisconsin uses a first dollar credit and other mechanisms to reduce the property tax burden on owner-occupied homes, but the state's high municipal and school levy rates still result in significant annual bills relative to home values.
Wisconsin Housing and Economic Development Authority (WHEDA) offers the Advantage Conventional and FHA home loans with competitive interest rates. The WHEDA Easy Close down payment assistance provides a 3.5% grant or 6% Easy Close second mortgage. The Capital Access Advantage program offers additional assistance for very low-income buyers. Income and purchase price limits apply based on county and household size.
With Wisconsin's average home price of $270,000, a 20% conventional down payment is $54,000. FHA loans require 3.5% ($9,450). WHEDA's Easy Close down payment assistance of up to 6% can significantly reduce upfront costs for qualifying first-time buyers. The $270,000 average price point makes Wisconsin relatively accessible even for conventional financing with smaller down payments.
Madison, home to the University of Wisconsin and the state capital, is Wisconsin's most dynamic and competitive housing market. Strong demand from university, healthcare (UW Health), and state government employees keeps inventory tight and prices rising consistently. Milwaukee, the state's largest city, has a more varied market with affordable inner neighborhoods and competitive eastern suburbs like Wauwatosa, Whitefish Bay, and Shorewood. Green Bay, Appleton, and the Fox Valley offer strong Midwest value.