Total monthly cost of ownership
Cost to Own a Home in Oak Creek, Wisconsin
A $305,000 home here costs
$2,614per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,568. The real number is $1,046 higher every month — 67% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Oak Creek against Milwaukee County and Wisconsin
| Measure | Oak Creek | Milwaukee County |
|---|---|---|
| Median home value | $305,100 | $216,500 |
| Median property tax | $5,617 | $4,406 |
| Effective tax rate | 1.841% | 2.035% |
| Median gross rent | $1,397 | $1,069 |
| Population | 36,473 | 927,656 |
The weather behind that power bill
Oak Creek sits in Milwaukee County, which averages a high of 80.2°F in its hottest month and a low of 15.9°F in its coldest, with 36.58" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 662 cooling and 6,679 heating degree days, which is what sets the $177 electricity line above.
See the full climate breakdown for Milwaukee County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Milwaukee County
Full Milwaukee County cost breakdown · Every county in Wisconsin
Common questions
How much does it cost to own a home in Oak Creek?
A $305,000 home in Oak Creek, Wisconsin costs approximately $2,614 per month with 20% down at 6.66%. That is $1,568 principal and interest, $468 property tax, $79 homeowners insurance, $245 utilities and $254 set aside for maintenance.
What is the property tax rate in Oak Creek?
Oak Creek has an effective property tax rate of 1.841%, based on a median home value of $305,100 and median real estate taxes of $5,617. That is lower than the Milwaukee County average of 2.035%.
What is the average home price in Oak Creek?
The median owner-occupied home value in Oak Creek, Wisconsin is $305,100, against $216,500 across Milwaukee County.
Is it cheaper to rent or buy in Oak Creek?
Median gross rent in Oak Creek is $1,397 a month, against $2,614 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oak Creek — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Wisconsin.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.