Mortgage for Wisconsin (2026)
Wisconsin (WI) Key Facts
Median Home Price
$270,000
Average Property Tax Rate
1.85%
Average Home Insurance Rate
0.55%
Estimated Monthly Payment
$2,116
First Time Buyer Programs
2
How This Calculator Works in Wisconsin
This mortgage calculator lets you estimate your monthly payment on a Wisconsin home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Wisconsin's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Wisconsin Overview
Wisconsin has a median home price of approximately $270K, with an average property tax rate of 1.85% and homeowners insurance averaging 0.55% annually. Community property state (marital property). WHEDA Advantage Mortgage and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Wisconsin Compares
Compared to neighboring states, Wisconsin's median home price of $270,000 is below the national median of about $420,000. Nearby Minnesota has a median price of $330,000 with a 1.12% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Minnesota | $330,000 | Median home price is $330,000 with a 1.12% property tax rate. Estimated monthly mortgage payment is about $2,399. |
| Illinois | $270,000 | Median home price is $270,000 with a 2.27% property tax rate. Estimated monthly mortgage payment is about $2,222. |
| Michigan | $240,000 | Median home price is $240,000 with a 1.54% property tax rate. Estimated monthly mortgage payment is about $1,839. |
The median home price in Wisconsin is $270,000, compared to the national median of approximately $420,000. With a 1.85% average property tax rate and 0.55% insurance rate, Wisconsin homeowners can expect an estimated monthly payment of about $2,116 on a median-priced home with 10% down at 6.75% interest.
Tips for Wisconsin Residents
- 1Wisconsin has a median home price around $270K. Community property state (marital property). Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Wisconsin average 1.85%. As a community property state, both spouses are equally responsible for mortgage debt. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore WHEDA Advantage Mortgage for potential down payment assistance and favorable rates. Wisconsin also offers WHEDA Capital Access Advantage. Check income limits and eligibility early in your home search.
- 4Community property state; transfer fee applies at closing. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5WHEDA offers competitive programs. A 0.25% rate difference on a $270K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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