The 54806 zip code in Ashland tops our ranking of the most affordable places to live in Wisconsin.
We looked at 165 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Wisconsin
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Ashland 🥇 | 100.0 | $198,263 | $1,387 |
| 2 | Wisconsin Rapids 🥈 | 95.8 | $228,982 | $1,000 |
| 3 | Medford 🥉 | 95.7 | $237,020 | $1,387 |
| 4 | Marinette | 95.3 | $195,327 | $1,387 |
| 5 | Antigo | 93.8 | $173,925 | $1,387 |
| 6 | Merrill | 93.7 | $217,430 | $1,387 |
| 7 | Beloit | 93.1 | $210,163 | $1,118 |
| 8 | New Richmond | 92.1 | $375,287 | $1,745 |
| 9 | Wausau | 91.9 | $231,403 | $1,005 |
| 10 | Rhinelander | 90.7 | $252,485 | $1,387 |
Buy in Wisconsin and get cash back
Get matched with a top agent in Ashland or any other affordable place in the state. Compare your money-saving options until you find the perfect fit, or walk away with no obligation.
1. Ashland
Here's why the 54806 zip code in Ashland is Wisconsin's most affordable place to live.
🔎 Key data about Ashland
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $198,263[1] | No. 11 | -$144,147.03 |
| Home affordability ratio | 3.1 | No. 2 | -1.3 |
| Home value five-year change | 30.9%[2] | No. 19 | -6.9% |
| Home value one-year forecast | 1.6%[3] | No. 105 | 0.0% |
| Rental costs | $1,387[4] | No. 56 | $0 |
| Rent affordability ratio | 1.75% | No. 51 | 0.0% |
| Median household income | $64,864[5] | No. 128 | -$14,382 |
| Property taxes | $2,754[6] | No. 20 | -$1,500 |
| Energy costs | $0.16 kWh[7] | No. 26 | -$0.02 |
Ashland's 54806 zip code is the cheapest place to live in Wisconsin, leading the 165 markets we evaluated.
The median home value is $198,263, making it the 11th-cheapest housing market in the state. Forecasts project a 1.6% change in home values in the next year. Rent in the zip code averages $1,387 per month, which is the 51st cheapest amount in Wisconsin.
The median property tax for homeowners in Ashland is $2,754 per household, the No. 20 ranked market in Wisconsin.
Residents pay $0.16 per kWh of electricity, which ranks No. 26 among Wisconsin markets.
2. Wisconsin Rapids
The 54494 zip code is the 2nd-cheapest place to live in Wisconsin.
🔎 Key data about Wisconsin Rapids
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.8 | No. 2 | N/A |
| Median home value | $228,982[8] | No. 23 | -$113,427.41 |
| Home affordability ratio | 3.2 | No. 5 | -1.2 |
| Home value five-year change | 55.5%[9] | No. 156 | 17.7% |
| Home value one-year forecast | 2.8%[10] | No. 152 | 1.2% |
| Rental costs | $1,000[11] | No. 9 | -$387 |
| Rent affordability ratio | 1.38% | No. 9 | -0.4% |
| Median household income | $72,595[12] | No. 97 | -$6,651 |
| Property taxes | $2,695[13] | No. 16 | -$1,559 |
| Energy costs | $0.15 kWh[14] | No. 15 | -$0.02 |
Wisconsin Rapids's 54494 zip code has a median home value of $228,982, which is the 152nd-cheapest housing market in Wisconsin. You can rent for an average of $1,000 per month. That's the 9th-cheapest price in the state.
The average household income in the zip code is $72,595, which ranks 97th-highest in the state.
Homeowners in Wisconsin Rapids pay a median property tax of $2,695 per year, making it the 16th-most affordable market in Wisconsin.
Wisconsin Rapids ranks No. 15 among Wisconsin energy markets. You'll pay $0.15 per kWh of electricity.
3. Medford
The 3rd-cheapest place to live in Wisconsin is Medford's 54451 zip code.
🔎 Key data about Medford
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.7 | No. 3 | N/A |
| Median home value | $237,020[15] | No. 31 | -$105,389.61 |
| Home affordability ratio | 3.3 | No. 10 | -1.0 |
| Home value five-year change | 30.2%[16] | No. 15 | -7.6% |
| Home value one-year forecast | 1.6%[17] | No. 105 | 0.0% |
| Rental costs | $1,387[18] | No. 56 | $0 |
| Rent affordability ratio | 1.75% | No. 51 | 0.0% |
| Median household income | $71,349[19] | No. 105 | -$7,897 |
| Property taxes | $3,005[20] | No. 29 | -$1,249 |
| Energy costs | $0.16 kWh[21] | No. 26 | -$0.02 |
The No. 31 cheapest housing market in Wisconsin is Medford's 54451 zip code, with a median home value of $237,020. Rents in the market average $1,387 per month, making it the 56th-most affordable rental market in the state.
The median property tax for households in Medford is $3,005, which makes it the 29th-cheapest place in Wisconsin. Medford ranks No. 26 among Wisconsin markets by energy costs. Residents pay $0.16 per kWh of electricity.
4. Marinette
The 54143 zip code in Marinette comes in at No. 4 on our list of the cheapest places to live in Wisconsin.
🔎 Key data about Marinette
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.3 | No. 4 | N/A |
| Median home value | $195,327[22] | No. 10 | -$147,082.88 |
| Home affordability ratio | 3.0 | No. 1 | -1.3 |
| Home value five-year change | 43.4%[23] | No. 116 | 5.6% |
| Home value one-year forecast | 2.6%[24] | No. 143 | 1.0% |
| Rental costs | $1,387[25] | No. 56 | $0 |
| Rent affordability ratio | 1.75% | No. 51 | 0.0% |
| Median household income | $64,491[26] | No. 129 | -$14,755 |
| Property taxes | $1,993[27] | No. 5 | -$2,261 |
| Energy costs | $0.16 kWh[28] | No. 46 | -$0.01 |
The No. 10 cheapest housing market in Wisconsin is Marinette's 54143 zip code, where the median home value is $195,327. Renters here pay an average of $1,387 per month.
When it comes to energy costs, Marinette ranks 46th among Wisconsin markets. Residents pay $0.16 per kWh of electricity.
The median property tax for households in the zip code is $1,993, which makes it the 5th-cheapest market in Wisconsin.
5. Antigo
The 54409 zip code in Antigo ranks No. 5 among Wisconsin's most affordable places to live.
🔎 Key data about Antigo
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.8 | No. 5 | N/A |
| Median home value | $173,925[29] | No. 7 | -$168,485.03 |
| Home affordability ratio | 3.2 | No. 7 | -1.1 |
| Home value five-year change | 43.7%[30] | No. 118 | 5.9% |
| Home value one-year forecast | 1.6%[31] | No. 105 | 0.0% |
| Rental costs | $1,387[32] | No. 56 | $0 |
| Rent affordability ratio | 1.75% | No. 51 | 0.0% |
| Median household income | $53,576[33] | No. 152 | -$25,670 |
| Property taxes | $1,807[34] | No. 2 | -$2,447 |
| Energy costs | $0.17 kWh[35] | No. 65 | -$0.01 |
Antigo's 54409 zip code has a median home value of $173,925, the 7th-cheapest market in the state. Forecasts project a 1.6% change in home values in the next year.
The median property tax per household in Antigo is $1,807. It's the 2nd-cheapest market by tax rate in Wisconsin.
6. Merrill
The No. 6 most affordable place to live in Wisconsin is the 54452 zip code.
🔎 Key data about Merrill
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.7 | No. 6 | N/A |
| Median home value | $217,430[36] | No. 15 | -$124,980.14 |
| Home affordability ratio | 3.2 | No. 6 | -1.1 |
| Home value five-year change | 37.1%[37] | No. 67 | -0.7% |
| Home value one-year forecast | 2.3%[38] | No. 128 | 0.7% |
| Rental costs | $1,387[39] | No. 56 | $0 |
| Rent affordability ratio | 1.75% | No. 51 | 0.0% |
| Median household income | $67,669[40] | No. 118 | -$11,577 |
| Property taxes | $2,678[41] | No. 12 | -$1,576 |
| Energy costs | $0.16 kWh[42] | No. 39 | -$0.02 |
The back half of our top 10 kicks off with Merrill's 54452 zip code, which has the 15th-cheapest home values in Wisconsin. The median home value is $217,430. Rents average $1,387 per month, making it the 56th-most affordable rental market in the state.
Residents pay $0.16 per kWh of electricity. It's the 39th-cheapest energy market.
7. Beloit
Beloit's 53511 zip code is the 7th-cheapest place to live in Wisconsin.
🔎 Key data about Beloit
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.1 | No. 7 | N/A |
| Median home value | $210,163[43] | No. 13 | -$132,246.56 |
| Home affordability ratio | 3.1 | No. 4 | -1.2 |
| Home value five-year change | 54.6%[44] | No. 155 | 16.8% |
| Home value one-year forecast | 2.7%[45] | No. 147 | 1.1% |
| Rental costs | $1,118[46] | No. 28 | -$269 |
| Rent affordability ratio | 1.67% | No. 46 | -0.1% |
| Median household income | $67,067[47] | No. 120 | -$12,179 |
| Property taxes | $2,696[48] | No. 17 | -$1,558 |
| Energy costs | $0.16 kWh[49] | No. 20 | -$0.02 |
You'll find the 13th-cheapest home values in Wisconsin in Beloit's 53511 zip code. The median value: $210,163. Renters in Beloit pay an average of $1,118 per month.
Homeowners in Beloit pay a median property tax of $2,696 per year, which is Wisconsin's 17th-most affordable market.
The average household income is $67,067, which ranks 120th-highest in the state.
8. New Richmond
The 8th-cheapest place to live in Wisconsin is New Richmond's 54017 zip code.
🔎 Key data about New Richmond
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.1 | No. 8 | N/A |
| Median home value | $375,287[50] | No. 109 | $32,876.87 |
| Home affordability ratio | 3.8 | No. 45 | -0.5 |
| Home value five-year change | 24.9%[51] | No. 5 | -12.9% |
| Home value one-year forecast | -1.6%[52] | No. 1 | -3.2% |
| Rental costs | $1,745[53] | No. 151 | $358 |
| Rent affordability ratio | 1.77% | No. 116 | 0.0% |
| Median household income | $98,571[54] | No. 30 | $19,325 |
| Property taxes | $4,095[55] | No. 94 | -$159 |
| Energy costs | $0.14 kWh[56] | No. 6 | -$0.03 |
The 109th-cheapest housing market in Wisconsin is New Richmond's 54017 zip code, with a median home value of $375,287. Renters pay an average of $1,745 per month, the No. 151 rental market in the state.
The median property tax for households in New Richmond is $4,095, which makes it the 94th-cheapest place in Wisconsin. The average household income of $98,571 ranks 30th.
9. Wausau
Wausau's 54403 zip code sneaks into the top ten of Wisconsin's most affordable places to live.
🔎 Key data about Wausau
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.9 | No. 9 | N/A |
| Median home value | $231,403[57] | No. 26 | -$111,007.04 |
| Home affordability ratio | 3.4 | No. 15 | -1.0 |
| Home value five-year change | 44.7%[58] | No. 126 | 6.9% |
| Home value one-year forecast | 2.3%[59] | No. 128 | 0.7% |
| Rental costs | $1,005[60] | No. 10 | -$383 |
| Rent affordability ratio | 1.46% | No. 20 | -0.3% |
| Median household income | $69,030[61] | No. 113 | -$10,216 |
| Property taxes | $3,377[62] | No. 46 | -$877 |
| Energy costs | $0.16 kWh[63] | No. 46 | -$0.01 |
The 26th-cheapest housing market in Wisconsin is Wausau's 54403 zip code, where the median home value is $231,403. Renters pay an average of $1,005 per month. It's the state's 10th-cheapest rental market.
The median property tax for households within the zip code is $3,377, which makes it the 46th-cheapest property tax rate in Wisconsin.
10. Rhinelander
The final spot on our list of the most affordable places to live in Wisconsin goes to the 54501 zip code in Rhinelander.
🔎 Key data about Rhinelander
| Data point | Value | Rank (out of 165 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.7 | No. 10 | N/A |
| Median home value | $252,485[64] | No. 40 | -$89,924.85 |
| Home affordability ratio | 3.7 | No. 31 | -0.6 |
| Home value five-year change | 31.8%[65] | No. 21 | -6.0% |
| Home value one-year forecast | 1.6%[66] | No. 105 | 0.0% |
| Rental costs | $1,387[67] | No. 56 | $0 |
| Rent affordability ratio | 1.75% | No. 51 | 0.0% |
| Median household income | $68,163[68] | No. 116 | -$11,083 |
| Property taxes | $1,976[69] | No. 3 | -$2,278 |
| Energy costs | $0.16 kWh[70] | No. 46 | -$0.01 |
The 40th-most affordable market in Wisconsin is Rhinelander's 54501 zip code. The median home value is $252,485. Rent in the market costs $1,387 per month on average, making it the 56th-most affordable rental market in Wisconsin.
The median property tax for households in Rhinelander is $1,976, which is the 3rd-cheapest property tax rate in the state.
Rhinelander ranks No. 46 among Wisconsin markets by energy costs, with households paying $0.16 per kWh of electricity.
How we ranked the most affordable places in Wisconsin
We evaluated 165 zip codes in Wisconsin with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Wisconsin, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Wisconsin average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Wisconsin average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
