With a 7.65% top income tax rate and 1.61% property tax, Wisconsin homeowners face a significant combined tax burden. This calculator is pre-filled with Wisconsin numbers: $280,000 median price, 1.61% property tax, $1,150/year insurance.
Last updated: March 13, 2026
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Monthly Payment (Wisconsin)$0
Loan Details — Wisconsin
Wisconsin median: $280,000
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Below 20% triggers PMI on conventional loans
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Average 30-year fixed ~6.75% (March 2026)
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Wisconsin average: 1.61%
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Wisconsin average: $1,150/yr
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Wisconsin Metro Area Home Prices
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Wisconsin's Tax Landscape and Your Mortgage
Wisconsin uses a progressive income tax with a top rate of 7.65%. A household earning $150,000 pays an estimated $7,459-$9,754 in state income tax, depending on filing status and deductions. That's $717/month less available for housing costs.
At the state's median home price of $280,000, the $1.61% property tax rate adds $376/month to your mortgage payment. That's $4,508/year — well above the national median of ~1.1%.
Property Taxes Across Wisconsin
The 1.61% statewide average masks significant variation. High property taxes (among top 10 nationally) partially offset by lottery credit and homestead credit
Price ranges across the state: Milwaukee has a median of $275,000, while Green Bay sits at $255,000 — a $20,000 gap that dramatically changes your monthly payment. At $1.61% property tax, that price difference alone means $27/month more in property tax in Milwaukee.
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Homebuyer Programs and Exemptions
Wisconsin offers several programs for homebuyers:
WHEDA First-Time Homebuyer Advantage with competitive rates
Capital Access down payment assistance up to $3,050
Homestead exemption: Lottery and Gaming Credit applied to primary residences (~$300/year); Homestead Credit for low-income (up to $1,168)
Wisconsin-Specific Considerations
High property taxes (among top 10 nationally) partially offset by lottery credit and homestead credit
High income tax with 7.65% top bracket starting at ~$405K
Affordable housing prices in most areas outside Milwaukee and Madison
No local income taxes
School levy referendum results cause property tax rate variations between neighboring districts
Property tax rates vary significantly by municipality and school district — Milwaukee County differs from Madison area and rural Wisconsin
Compare Wisconsin Mortgage Rates
See personalized rates from Wisconsin lenders. LendingTree matches you with up to 5 offers so you can compare and save.
0.39% property tax, 5% top rate. Median home: $232,500.
Alaska Mortgage Calculator
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1.04% property tax, no income tax. Median home: $340,000.
Arizona Mortgage Calculator
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0.62% property tax, 2.5% top rate. Median home: $395,000.
Frequently Asked Questions
What is the average property tax rate in Wisconsin?
The average effective property tax rate in Wisconsin is 1.61%. On a $280,000 home (the state median), that works out to approximately $4,508/year or $376/month added to your mortgage payment. Property tax rates vary by county and school district within Wisconsin — always check your specific jurisdiction's rate. Homestead exemption: Lottery and Gaming Credit applied to primary residences (~$300/year); Homestead Credit for low-income (up to $1,168)
How much does homeowners insurance cost in Wisconsin?
The average annual homeowners insurance premium in Wisconsin is approximately $1,150 ($96/month). This is below the national average of approximately $1,500/year. Actual premiums depend on your home's location, age, construction type, and coverage limits.
What first-time homebuyer programs are available in Wisconsin?
WHEDA First-Time Homebuyer Advantage with competitive rates. Capital Access down payment assistance up to $3,050. These programs typically have income limits, purchase price caps, and may require homebuyer education courses. Check the Wisconsin housing finance agency website for current eligibility requirements and application deadlines.
How does Wisconsin's 7.65% income tax affect home affordability?
Wisconsin's top income tax rate of 7.65% reduces your take-home pay, which affects how much mortgage you can comfortably carry. On a $150,000 salary, state income tax takes roughly $7,459-$9,754/year (effective rate is lower than the top marginal rate). Combined with 1.61% property tax, the total tax burden in Wisconsin is above average. Use our paycheck calculator to see your exact take-home pay.
What is the conforming loan limit in Wisconsin?
The 2026 conforming loan limit in Wisconsin is $806,500. Loans above this amount are considered jumbo loans and typically carry higher interest rates (0.25-0.5% premium), require larger down payments (10-20%), and have stricter qualification requirements including higher credit scores (700+) and lower debt-to-income ratios.
This calculator is for educational purposes. Tax rates and insurance costs are based on Wisconsin state averages and may not reflect your specific county, school district, or municipality. Consult a financial professional for advice specific to your situation.