What’s the average mortgage payment in Wisconsin?

From lakeside towns and rolling farmland to established metro areas like Milwaukee and Madison, Wisconsin offers a wide range of housing options. According to data from Redfin and Rocket Mortgage, the average monthly mortgage payment in Wisconsin is approximately $1,683 before property taxes and homeowners insurance. That puts Wisconsin below the national average of $2,010 per month, reflecting a housing market that remains relatively affordable compared with many coastal and high-growth states.

A brief look at Wisconsin’s housing market

The median home sale price in Wisconsin is $332,100 according to November 2025 data. Although prices have risen almost 5% from the last year, they are still about $100,000 below the current national median.

Here are some of the recent median sale prices across the state from Redfin:

What influences mortgage payments in Wisconsin?

Monthly mortgage payments are made up of a combination of factors commonly referred to as PITI: principal, interest, property taxes, and homeowners insurance. Each of these factors can vary based on location, loan term, and market conditions. The Rocket Mortgage® mortgage calculator can help buyers break down how each factor contributes to their monthly cost.

Home price and down payment

Wisconsin’s home prices are just below the national median, which helps keep loan balances manageable for many buyers. For example, purchasing a $332,100 home with a 20% down payment and a 30-year fixed mortgage at 6.5% results in an estimated principal and interest payment of about $1,679 per month, before taxes and insurance.

Choosing to make a smaller down payment may lower upfront costs, but it can increase monthly payments and may require private mortgage insurance (PMI) until you build enough equity. 

Mortgage rate

Mortgage interest rates affect buyers nationwide, and Wisconsin is no exception. Rates are influenced by factors such as credit score, down payment amount, loan type, debt-to-income ratio (DTI), and current market trends. In a moderate-priced market, getting a competitive rate can still make a meaningful difference over the life of the loan.

Loan term

Choosing a loan term is a decision on how long you will take to pay off the loan. The two most common types that people choose are 30-year fixed mortgage loans and 15-year fixed mortgage loans. 

A 30-year loan term will spread your total mortgage principal across a longer span of time, which makes your monthly payments smaller, but increases the total amount of interest you pay over time. A 15-year loan term makes your monthly payments higher, but lowers the overall interest you’ll have to pay – and accrues equity faster. 

Property taxes and insurance

Wisconsin’s property tax rates are the 8th highest in the country at a rate of 1.5%, which can add a noticeable amount to monthly housing costs even when home prices are moderate. On a median-value home at $247,000, the average annual property taxes come out to $3,746. This could add over $300 to your monthly payment, but exact costs can vary. 

Higher property tax rates can be offset by lower homeowners insurance costs in Wisconsin. According to Insurify, Wisconsin’s average annual cost of homeowners insurance is around $1,404, which is below the national average. However, it’s important to remember that premiums can vary based on home age, location, and weather-related risks.

Average monthly mortgage payments in Wisconsin compared to its neighbors

Wisconsin and the majority of its Midwest neighbors are fairly close in price when it comes to average monthly mortgage payments. With the exception of Michigan, which has the lowest estimated average in the country, Wisconsin sits right in the middle of the less-than-$100 difference between these Midwest states:

Highest monthly payments in Wisconsin 

Even with the estimated average for the state being relatively low, there are many areas within Wisconsin that can see monthly payments well above the national average of $2,010. This goes to show that monthly payments can vary widely depending on where you search for a home, regardless of what the average estimate is. Areas with higher payments in Wisconsin tend to be closer to larger cities and have higher home values. Here are the top five highest payments in the state according to the Q1 2025 median sale prices from the National Association of REALTORS®:

Lowest monthly payments in Wisconsin

Lower monthly payments are generally found in more rural counties, where home prices remain well below the state average. These areas can offer more affordable entry points for buyers focused on keeping monthly costs down. Here are the five lowest monthly mortgage payments in Wisconsin: 

How to calculate your mortgage payment

Lenders calculate mortgage payments using a standard formula that factors in your loan amount, interest rate, and loan term. To explore different scenarios, the Rocket Mortgage online mortgage calculator lets you adjust these factors to help estimate payments. Additional Rocket Mortgage tools can also help you understand affordability and long-term costs.

Mortgage resources in Wisconsin

Redfin keeps a list of programs for first-time home buyers in Wisconsin that could help you along on your journey to homeownership. We’ll look closer at a few more options below:

• Wisconsin Housing and Economic Development Authority (WHEDA) Programs: In addition to home buyer tools and resources, WHEDA has a number of loan programs and down payment assistance options for both first-time and repeat home buyers. 
• Housing Resources Inc. Home Buyers Grants: A statewide grant program that provides eligible homebuyers with forgivable down payment and closing cost funds to help make homeownership more accessible in Wisconsin. 
• HOME Homebuyer and Rehabilitation Assistance: Administered by the Wisconsin Division of Energy, Housing & Community Resources, this program awards federal HOME funds to local governments and nonprofit partners that provide direct buyer assistance for acquisition, down payment, and closing cost support.

FAQs on the average monthly mortgage payment in Wisconsin

Have more questions about the average monthly mortgage payment in Wisconsin? We have answers! 

What is a good mortgage payment in Wisconsin right now?

A good mortgage payment in any state is one that fits comfortably within your monthly budget while leaving room for other financial goals. Wisconsin’s average monthly mortgage payment is below the national average, but your estimate can vary depending on where you look. Rocket Mortgage’s home affordability calculator can help estimate a price range that works well for your income so you can narrow down your home search.

What’s the difference between a 15-year vs. 30-year mortgage in Wisconsin?

A 30-year mortgage generally offers lower monthly payments and more flexibility in your budget. A 15-year mortgage increases monthly costs but reduces total interest paid and helps build equity faster. Wisconsin buyers often choose based on income stability, savings goals, and long-term plans.

How much income is needed to afford a home in Wisconsin?

Income needs depend on home price, interest rates, and existing debt. The average annual household income in Wisconsin is $93,188 based on combined Redfin and Rocket Mortgage data. Tools like the Rocket Mortgage affordability calculator can help you estimate your buying power with your specific income.

The bottom line on average monthly mortgage payments in Wisconsin

Mortgage payments in Wisconsin are influenced by home prices, interest rates, loan terms, and property taxes, which can vary by location. While taxes may be higher in some areas, overall affordability remains a strength for many buyers.

Whether you’re purchasing your first home or relocating within the Badger State, get prequalified for a loan with Rocket Mortgage to help you understand your buying power and take the next step on your homeownership journey.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.