Rent-to-Own Homes in Milwaukee, WI: Everything You Need to Know
A place of mid-Western coziness, Milwaukee, Wisconsin is a city of community. Milwaukee is diverse, yet close-knit. The cost of living is low, and the food scene is all about comfort. Those who love the cold will love Milwaukee.
The Cost of Living in Milwaukee
Milwaukee, Wisconsin’s overall cost of living is 3% cheaper than the national average. Housing is 6% less expensive and gas is 4% less expensive. Healthcare, however, is 13% higher than the national average. The median home cost is $123,300. The state sales tax is 5%, and for specific counties, there is an additional 0.5% tax.
The Local Culture
Milwaukee is a city that loves to dine out. While homemade sausages, cheese, and craft beer are iconic favorites, there is still diverse cuisine to be enjoyed. There are some must-visit restaurants, like Kopp’s, a Milwaukee staple since 1950. Kopp’s is known for its frozen custard and perfectly charred jumbo burgers. Another old-timey favorite is Jake’s Deli. Around since 1955, Jake’s is notorious for their corned beef and pastrami, matzo ball soup, and smoked turkey sandwich made on sourdough bread.
The Local Population
Milwaukee is home to 585,589 citizens, making it the largest city in Wisconsin. 14% of the population is 65 years or older, and 23.8% is under 18. Roughly 64% is Caucasian, and 27% is African American. The median age here is 31.
The City’s Weather and Climate
A notoriously cold and snowy city, Milwaukee’s annual high average temperature is 56ºF. The summers here are tepid and warm, while winters are ice-cold, windy, and dry. The warmest month is July, with temperatures rarely going above 81ºF. The coldest month is January, with an average low of 18ºF.
Know Your Neighborhoods
Milwaukee is a diverse city full of equally diverse neighborhoods.
Juneau Town is home to 5,606 inside the city and is widely considered one of the best places to live in Wisconsin. Residents enjoy a dense urban environment. Juneau Town is popular among young professionals. The median home value is $230,449. The median rent is $1,347 and the majority of residents rent their homes.
Menomonee River Valley is another Wisconsin favorite. Home to 2,545, Menomonee River Valley is an urban neighborhood with lots of bars, restaurants, and shops. Many young professionals live here. The median home value is $151,788. The median rent is $1,153 and the majority of residents rent their homes.
The Historic Third Wave is a neighborhood with just over 1,000 residents. This is another Wisconsin favorite and is popular among young professionals. This neighborhood is a dense urban environment. The median home value is $270,500. The median rent is $1,627 and just over half the residents rent their homes.