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Relocating, whether it be for work, for family, or even just for fun, can be pretty stressful. You have to find a place with the amenities you want, the weather you prefer, a low crime rate, and, if you have a family, good schools. At the end of the day, even if you can check all those off your list, if you can’t afford your new location, you may as well keep looking.
That’s why the Movoto Real Estate Blog decided to take some of the work out of it for you and by finding out which places in a state are actually affordable. So far, we’ve looked at North Carolina and Illinois, to name just two, and today we’re heading to Wisconsin. Here are the 10 most affordable places in the Badger State, starting with our winner, Pewaukee:
1. City of Pewaukee
2. Village of Allouez
3. City of Oconomowoc (tie)
3. City of New Berlin (tie)
5. City of Muskego
6. Village of Menomonee Falls (tie)
6. City of Brookfield (tie)
8. Village of Sussex
9. Village of Howard (tie)
9. Village of Suamico (tie)
As you probably noticed, there are a few ties in our list. That’s mostly because these places are located in the same county and share similar economic characteristics. As a matter of fact, seven out of 10 of our places are in Waukesha County, and the remaining three are in Brown. Next up, we’ll explain how we came up with this list and just what makes each of these places more affordable than the rest.
How We Found The 10 Most Affordable Places In Wisconsin
To come up with our list of the 10 Most Affordable Places In Wisconsin, we started out by using the 2010 U.S. Census to create a list of all of the places in the state with populations of 10,000 or more people. This left us with a total of 86 places. We then used the following six criteria to rank each place with a score from one to 86, with the lowest number being the best:
- Cost of food index (lower is better)
- Cost of utilities index (lower is better)
- Miscellaneous cost of living index (lower is better)
- Median home price (lower is better)
- Unemployment rate (lower is better)
- Adjusted median household income (higher is better)
From there, we averaged these scores for an overall Big Deal Score, the lower of which was better. Pewaukee came in as our winner, with the lowest score overall.
We decided to use an adjusted median household income in order to reflect each place’s cost of living. We calculated this by taking the median household income and dividing it by the cost of living index. Then, we multiplied that by 100 to create an income adjusted to reflect a household’s actual earnings based on the place’s cost of living index.
You’ll find a rankings of the top 50 Most Affordable Places In Wisconsin at the bottom of this post. Keep reading for a closer look at our top 10 places.
1. Pewaukee
Pewaukee came in at the top of our list for a number of reasons, but we’ll start with the fun one: food. Pewaukee’s cost of living index for food was a low 94, compared to the national average of 100 and the Wisconsin average of 97.
Plus, Pewaukee ranked better than 74 places in the state when it came to the miscellaneous cost of living index—things like restaurants, shopping, repairs, and entertainment. This is good news for a place packed with restaurant choices like Doc’s Dry Dock, Dylon’s Steakhouse, and Michael’s House of Prime.
While this city didn’t exactly rank at the top for its median home price of $194,800, it more than made up for this with its adjusted median household income of $74,132.
2. Allouez
This village just outside of Green Bay has all of the benefits of being close to the big city, without all of the drawbacks (namely, the costs).
In fact, with its overall cost of living index of just 95 (the lowest in our top 10), and its cost of utilities index of 102, compared to the national average of 100 and the Wisconsin average of 104, Allouez may well be the perfect affordable solution for those looking to work in Green Bay, without the price tag.
Plus, with an adjusted household income of $64,983, Allouez residents make almost $20,000 more than their neighbors who live in Green Bay. Now that’s what we call Green and Gold.
3. Oconomowoc (tie)
This city in Waukesha County came in high on our list for many of the same reasons the others from this area did: a cost of living index for food of just 94, a miscellaneous cost of living index of 90, and a low unemployment rate of just 5.7 percent.
What makes Oconomowoc truly unique are the things outside of our ranking: its natural lakes, family movies in Fowler Park, downtown shops, galleries, and local artists. This city is charming, unique, and feels a lot like family. The affordability is just the cherry on top.
3. New Berlin (tie)
Tied for No. 3 with Oconomowoc, New Berlin ranked well for many of the same reasons as its Waukesha County counterpart. It had the same low cost of food index of 94; the same miscellaneous cost of living index of 90; but where New Berlin really stood out was in its adjusted median household income of $70,088, the 10th highest in the state.
Of course, this would be good news for residents anywhere, but in a place where there is so much to do—beautiful parks, golf courses, biking and running trails, holiday parades, and other family friendly fun—the affordability is really what makes it all possible.
5. Muskego
Muskego is known in the area for its close-knit community feel, apparent in the various community activities like Easter egg hunts, holiday parades, fireworks, and various celebrations. It’s known for its beautiful nature and parks, and for its delicious foods (looking at you, Gingerbread House). Perhaps most of all, it’s known for its affordability.
It has a low unemployment rate of just 5.7 percent, plus a cost of food and miscellaneous cost of living index of just 90 and 94, respectively. What sets it apart from the other Waukesha County places on our list, though, is its high adjusted income of $74,294, the sixth highest in the state. Now that’s something worth celebrating.
6. Menomonee Falls (tie)
This village is a real gem within the state. Not only is it beautiful, dotted with parks, greenery, and of course, the waterfalls, but it has a small-town feel, the convenience of being close to Milwaukee, and then there’s Pop’s Frozen Custard—which, let’s face it, is reason enough to live here. The cherry on top of this hot fudge sundae is Menomonee Falls’ affordability and unemployment rate of just 5.70 percent.
With a cost of food index of 94 and miscellaneous cost of living index of 90, Menomonee Falls not only has a variety of restaurants, stores, and places to shop, but they are also quite affordable.
6. Brookfield (tie)
This city of nearly 40,000 residents is home to a number of major businesses, stores, restaurants, and, of course, some of the freshest and most delicious foods at Brennan’s Country Farm Market.
Brookfield also did especially well for its adjusted median household income of $75,470, the fifth highest in the state. To put that into perspective for you, take a look at nearby Milwaukee, where it’s $41,769. Brookfield is a great choice for those who want to live near Brew City, while still being able to afford their brews.
8. Sussex
This village just 20 miles northwest of Milwaukee has just over 10,000 residents and truly maintains a small-town charm. There are a variety of neighborhood parks, walking, biking, and running trails, numerous activities through the community center, plus an affordability that’s hard to match.
This is especially true for Sussex’s low cost of food and miscellaneous expenses, which includes restaurants—which, luckily for residents, includes Tony Maronni’s Pizza. So feel free to get that extra order of garlic bread. In fact, with a miscellaneous cost of living index of just 90, feel free to get two.
9. Howard (tie)
Howard is known locally as an all around great place to raise a family. It has one of the best school districts in the state, it’s home to several corporate offices, restaurants, things to do, and the best part is, it’s all quite affordable.
Howard’s cost of utilities index in particular stood out in our analysis at 102, where the Wisconsin utilities cost is a 104. Howard also beat out 64 places on our list for its median household income, which, when adjusted to reflect the overall cost of living, is a high $61,859.
9. Suamico (tie)
Also ranked No. 9 and also in Brown County, Suamico and Howard have many things in common—especially when it comes to affordability. Like Howard, Suamico has one of the lowest cost of utilities indexes on our list, with a score of 102 compared to the state’s average of 104.
Where Suamico really stood out was in its adjusted median household income of $78,763, making it the fourth best paid place in the state when taking into account cost of living. Suamico didn’t gain many points in our analysis for its food or miscellaneous costs of living (with scores of 96 and 98, respectively), but with an income like this, it doesn’t seem like residents will be wanting for good food.
Now That’s A Lot Of Cheddar
Since we’ve told you all about The 10 Most Affordable Places In Wisconsin, we feel we’d be short changing you if we didn’t at least mention some of the most expensive. The five places that ranked at the very bottom of our list, starting with the most expensive, were Beloit, Janesville, Whitewater, Portage, and Kenosha.
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