Here's How Much You Need To Make To Buy A Home In WI, Study Says

WISCONSIN — It's no secret that buying a home in Wisconsin has become much harder in recent years, with rising prices and mortgage costs pushing affordability further out of reach for many families.

A recent study shows just how much income you would need to purchase a median-priced home in the Badger State — and that this amount has increased by more than 54.1 percent in the last five years.

Prospective homebuyers in 30 states and Washington, D.C. now need six-figure incomes to own a home at the typical price in their area, according to Bankrate's 2025 Housing Affordability Study.

Wisconsin is not among these, but is also not too far off, the study said.

In January 2020, aspiring homeowners in Wisconsin needed about $56,948 to afford a median-priced home. By January 2025, that figure had jumped to $87,743, a more than 54 percent increase, according to the study.

Buying a Home in Wisconsin:

• 2020 Required Income: $56,948
• 2025 Required Income: $87,743
• 5-Year Increase: 54.1 percent
• Median Home Price (2025): $310,100
• Monthly Mortgage Payment: $1,637

This places Wisconsin:

• Below the national median home price of $418,489
• Above the national 5-year increase in required income (49.5 percent nationally, 54.1 percent in Wisconsin)
• Still facing a major affordability crunch despite lower overall prices.

National outlook

Nationwide, the median sale price for homes this past January was $418,489, with households needing to make $116,986 annually to afford that amount, according to the study.

This is almost a 50 percent increase since early 2020, when the income needed to buy a typical home was $78,236, Bankrate reported.

The income amount takes into account homeowners' insurance, property taxes, and estimated monthly mortgage payments along with median home price figures from Redfin.

“Between elevated mortgage rates and the rise of home prices nationally to a record level, many aspiring homebuyers feel like owning a home is out of reach,” said Mark Hamrick, senior economic analyst for Bankrate.

That's a 54.2 percent increase from January 2020, when buyers needed to make $72,470 to afford the typical home.

The 5 states requiring the least income to afford a median home

1. West Virginia: $64,179
2. Iowa: $70,437
3. Ohio: $71,080
4. Mississippi: $72,072
5. Indiana: $72,342

The 5 states requiring the most income to afford a median home

1. District of Columbia: $240,009
2. Hawaii: $235,638
3. California: $213,447
4. Massachusetts: $174,392
5. Colorado: $168,643

Check out the full study here.