Total monthly cost of ownership
Cost to Own a Home in Whitefish Bay, Wisconsin
A $499,000 home here costs
$4,254per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $182,500 a year.
A standard mortgage calculator would have told you $2,764. The real number is $1,490 higher every month, 54% more than the payment most buyers budget for.
Compare Milwaukee County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Whitefish Bay against Milwaukee County and Wisconsin
| Measure | Whitefish Bay | Milwaukee County |
|---|---|---|
| Median home value | $498,700 | $216,500 |
| Median property tax | $9,054 | $4,406 |
| Effective tax rate | 1.816% | 2.035% |
| Median gross rent | $1,348 | $1,069 |
| Population | 14,750 | 927,656 |
The weather behind that power bill
Whitefish Bay 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 $123 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
Talk to someone who works this market
These are Whitefish Bay averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Whitefish Bay every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Whitefish Bay I already own here and may sell
Common questions
How much does it cost to own a home in Whitefish Bay?
A $499,000 home in Whitefish Bay, Wisconsin costs approximately $4,254 per month with 20% down at 7.4%. That is $2,764 principal and interest, $755 property tax, $128 homeowners insurance, $191 utilities and $416 set aside for maintenance.
What is the property tax rate in Whitefish Bay?
Whitefish Bay has an effective property tax rate of 1.816%, based on a median home value of $498,700 and median real estate taxes of $9,054. That is lower than the Milwaukee County average of 2.035%.
What is the average home price in Whitefish Bay?
The median owner-occupied home value in Whitefish Bay, Wisconsin is $498,700, against $216,500 across Milwaukee County.
Is it cheaper to rent or buy in Whitefish Bay?
Median gross rent in Whitefish Bay is $1,348 a month, against $4,254 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Whitefish Bay?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Whitefish Bay, Wisconsin at today's rate takes a household income of roughly $182,500 a year. That covers the full $4,254 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Whitefish Bay, 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.