The 54452 zip code in Merrill tops our ranking of the most affordable places to live in Wisconsin.
We looked at 171 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 | Merrill 🥇 | 100.0 | $194,371 | $895 |
| 2 | Antigo 🥈 | 98.7 | $156,529 | $1,399 |
| 3 | Wausau 🥉 | 97.7 | $207,066 | $888 |
| 4 | Marinette | 95.2 | $176,546 | $1,399 |
| 5 | Wisconsin Rapids | 93.0 | $212,962 | $1,399 |
| 6 | Oshkosh | 91.9 | $210,403 | $1,108 |
| 7 | Ashland | 90.6 | $193,024 | $1,399 |
| 8 | Medford | 89.3 | $223,077 | $1,399 |
| 9 | Beloit | 88.9 | $190,527 | $1,399 |
| 10 | Rhinelander | 88.4 | $232,661 | $1,399 |
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1. Merrill
Here's why the 54452 zip code in Merrill is Wisconsin's most affordable place to live.
🔎 Key data about Merrill
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $194,371[1] | No. 15 | -$121,512 |
| Home affordability ratio | 3.1 | No. 4 | -1.2 |
| Home value five-year change | 43.8%[2] | No. 59 | -3% |
| Home value one-year forecast | 1.0%[3] | No. 17 | -0.4% |
| Rental costs | $895[4] | No. 4 | -$504 |
| Rent affordability ratio | 1.41% | No. 7 | -0.5% |
| Median household income | $63,256[5] | No. 123 | -$11,368 |
| Property taxes | $2,573[6] | No. 15 | -$1,510 |
| Energy costs | $0.15 kWh[7] | No. 21 | -$0.01 |
Merrill's 54452 zip code is the cheapest place to live in Wisconsin, leading the 171 markets we evaluated.
The median home value is $194,371, making it the 15th-cheapest housing market in the state. Forecasts project a 1.0% change in home values in the next year. Rent in the zip code averages $895 per month, which is the 7th cheapest amount in Wisconsin.
The median property tax for homeowners in Merrill is $2,573 per household, the No. 15 ranked market in Wisconsin.
Residents pay $0.15 per kWh of electricity, which ranks No. 21 among Wisconsin markets.
2. Antigo
The 54409 zip code is the 2nd-cheapest place to live in Wisconsin.
🔎 Key data about Antigo
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.7 | No. 2 | N/A |
| Median home value | $156,529[8] | No. 6 | -$159,354 |
| Home affordability ratio | 2.9 | No. 3 | -1.3 |
| Home value five-year change | 43%[9] | No. 55 | -3% |
| Home value one-year forecast | 1.4%[10] | No. 93 | 0.0% |
| Rental costs | $1,399[11] | No. 44 | $0 |
| Rent affordability ratio | 1.87% | No. 43 | 0.0% |
| Median household income | $53,976[12] | No. 153 | -$20,648 |
| Property taxes | $1,822[13] | No. 2 | -$2,261 |
| Energy costs | $0.15 kWh[14] | No. 37 | -$0.01 |
Antigo's 54409 zip code has a median home value of $156,529, which is the 93rd-cheapest housing market in Wisconsin. You can rent for an average of $1,399 per month. That's the 44th-cheapest price in the state.
The average household income in the zip code is $53,976, which ranks 153rd-highest in the state.
Homeowners in Antigo pay a median property tax of $1,822 per year, making it the 2nd-most affordable market in Wisconsin.
Antigo ranks No. 37 among Wisconsin energy markets. You'll pay $0.15 per kWh of electricity.
3. Wausau
The 3rd-cheapest place to live in Wisconsin is Wausau's 54403 zip code.
🔎 Key data about Wausau
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.7 | No. 3 | N/A |
| Median home value | $207,066[15] | No. 21 | -$108,817 |
| Home affordability ratio | 3.2 | No. 7 | -1.1 |
| Home value five-year change | 44%[16] | No. 58 | -3% |
| Home value one-year forecast | 1%[17] | No. 17 | -0.4% |
| Rental costs | $888[18] | No. 2 | -$511 |
| Rent affordability ratio | 1.36% | No. 4 | -0.5% |
| Median household income | $65,515[19] | No. 111 | -$9,109 |
| Property taxes | $3,142[20] | No. 47 | -$941 |
| Energy costs | $0.15 kWh[21] | No. 6 | -$0.01 |
The No. 21 cheapest housing market in Wisconsin is Wausau's 54403 zip code, with a median home value of $207,066. Rents in the market average $888 per month, making it the 2nd-most affordable rental market in the state.
The median property tax for households in Wausau is $3,142, which makes it the 47th-cheapest place in Wisconsin. Wausau ranks No. 6 among Wisconsin markets by energy costs. Residents pay $0.15 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 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.2 | No. 4 | N/A |
| Median home value | $176,546[22] | No. 10 | -$139,336 |
| Home affordability ratio | 2.9 | No. 2 | -1.4 |
| Home value five-year change | 48%[23] | No. 96 | 2% |
| Home value one-year forecast | 3%[24] | No. 169 | 1.6% |
| Rental costs | $1,399[25] | No. 44 | $0 |
| Rent affordability ratio | 1.87% | No. 43 | 0.0% |
| Median household income | 61495[26] | No. 131 | -$13,129 |
| Property taxes | $1,934[27] | No. 5 | -$2,149 |
| Energy costs | $0.15 kWh[28] | No. 6 | -$0.01 |
The No. 10 cheapest housing market in Wisconsin is Marinette's 54143 zip code, where the median home value is $176,546. Renters here pay an average of $1,399 per month.
When it comes to energy costs, Marinette ranks 6th among Wisconsin markets. Residents pay $0.15 per kWh of electricity.
The median property tax for households in the zip code is $1,934, which makes it the 5th-cheapest market in Wisconsin.
5. Wisconsin Rapids
The 54494 zip code in Wisconsin Rapids ranks No. 5 among Wisconsin's most affordable places to live.
🔎 Key data about Wisconsin Rapids
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.0 | No. 5 | N/A |
| Median home value | $212,962[29] | No. 26 | -$102,921 |
| Home affordability ratio | 3.2 | No. 8 | -1.1 |
| Home value five-year change | 48%[30] | No. 93 | 1% |
| Home value one-year forecast | 1%[31] | No. 17 | -0.4% |
| Rental costs | $1,399[32] | No. 44 | $0 |
| Rent affordability ratio | 1.87% | No. 43 | 0.0% |
| Median household income | $66,941[33] | No. 105 | -$7,683 |
| Property taxes | $2,595[34] | No. 17 | -$1,488 |
| Energy costs | $0.14 kWh[35] | No. 2 | -$0.02 |
Wisconsin Rapids's 54494 zip code has a median home value of $212,962, the 26th-cheapest market in the state. Forecasts project a 1% change in home values in the next year.
The median property tax per household in Wisconsin Rapids is $2,595. It's the 17th-cheapest market by tax rate in Wisconsin.
6. Oshkosh
The No. 6 most affordable place to live in Wisconsin is the 54902 zip code.
🔎 Key data about Oshkosh
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.9 | No. 6 | N/A |
| Median home value | $210,403[36] | No. 22 | -$105,479 |
| Home affordability ratio | 3.3 | No. 10 | -1.0 |
| Home value five-year change | 52%[37] | No. 119 | 5% |
| Home value one-year forecast | 1.6%[38] | No. 133 | 0.2% |
| Rental costs | $1,108[39] | No. 22 | -$291 |
| Rent affordability ratio | 1.72% | No. 27 | -0.1% |
| Median household income | $64,235[40] | No. 116 | -$10,389 |
| Property taxes | $2,927[41] | No. 30 | -$1,156 |
| Energy costs | $0.15 kWh[42] | No. 37 | -$0.01 |
The back half of our top 10 kicks off with Oshkosh's 54902 zip code, which has the 22nd-cheapest home values in Wisconsin. The median home value is $210,403. Rents average $1,108 per month, making it the 22nd-most affordable rental market in the state.
Residents pay $0.15 per kWh of electricity. It's the 37th-cheapest energy market.
7. Ashland
Ashland's 54806 zip code is the 7th-cheapest place to live in Wisconsin.
🔎 Key data about Ashland
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.6 | No. 7 | N/A |
| Median home value | $193,024[43] | No. 13 | -$122,858 |
| Home affordability ratio | 3.3 | No. 13 | -0.9 |
| Home value five-year change | 52%[44] | No. 114 | 5% |
| Home value one-year forecast | 1.4%[45] | No. 93 | 0.0% |
| Rental costs | $1,399[46] | No. 44 | $0 |
| Rent affordability ratio | 1.87% | No. 43 | 0.0% |
| Median household income | $58,429[47] | No. 141 | -$16,195 |
| Property taxes | $2,583[48] | No. 16 | -$1,500 |
| Energy costs | $0.15 kWh[49] | No. 22 | -$0.01 |
You'll find the 13th-cheapest home values in Wisconsin in Ashland's 54806 zip code. The median value: $193,024. Renters in Ashland pay an average of $1,399 per month.
Homeowners in Ashland pay a median property tax of $2,583 per year, which is Wisconsin's 16th-most affordable market.
The average household income is $58,429, which ranks 141st-highest in the state.
8. Medford
The 8th-cheapest place to live in Wisconsin is Medford's 54451 zip code.
🔎 Key data about Medford
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 89.3 | No. 8 | N/A |
| Median home value | $223,077[50] | No. 34 | -$92,805 |
| Home affordability ratio | 3.5 | No. 28 | -0.7 |
| Home value five-year change | 31%[51] | No. 4 | -15% |
| Home value one-year forecast | 1.4%[52] | No. 93 | 0.0% |
| Rental costs | $1,399[53] | No. 44 | $0 |
| Rent affordability ratio | 1.87% | No. 43 | 0.0% |
| Median household income | $62,885[54] | No. 125 | -$11,739 |
| Property taxes | $2,800[55] | No. 27 | -$1,283 |
| Energy costs | $0.15 kWh[56] | No. 22 | -$0.01 |
The 34th-cheapest housing market in Wisconsin is Medford's 54451 zip code, with a median home value of $223,077. Renters pay an average of $1,399 per month, the No. 44 rental market in the state.
The median property tax for households in Medford is $2,800, which makes it the 27th-cheapest place in Wisconsin. The average household income of $62,885 ranks 125th.
9. Beloit
Beloit's 53511 zip code sneaks into the top ten of Wisconsin's most affordable places to live.
🔎 Key data about Beloit
| Data point | Value | Rank (out of 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 88.9 | No. 9 | N/A |
| Median home value | $190,527[57] | No. 12 | -$125,356 |
| Home affordability ratio | 3.1 | No. 5 | -1.2 |
| Home value five-year change | 67%[58] | No. 162 | 20% |
| Home value one-year forecast | 2.4%[59] | No. 152 | 1.0% |
| Rental costs | $1,399[60] | No. 44 | $0 |
| Rent affordability ratio | 1.87% | No. 43 | 0.0% |
| Median household income | $61,825[61] | No. 130 | -$12,799 |
| Property taxes | $2,705[62] | No. 21 | -$1,378 |
| Energy costs | $0.15 kWh[63] | No. 44 | -$0.01 |
The 12th-cheapest housing market in Wisconsin is Beloit's 53511 zip code, where the median home value is $190,527. Renters pay an average of $1,399 per month. It's the state's 44th-cheapest rental market.
The median property tax for households within the zip code is $2,705, which makes it the 21st-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 171 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 88.4 | No. 10 | N/A |
| Median home value | $232,661[64] | No. 44 | -$83,222 |
| Home affordability ratio | 3.6 | No. 33 | -0.6 |
| Home value five-year change | 41%[65] | No. 34 | -6% |
| Home value one-year forecast | 1.4%[66] | No. 93 | 0.0% |
| Rental costs | $1,399[67] | No. 44 | $0 |
| Rent affordability ratio | 1.87% | No. 43 | 0.0% |
| Median household income | $64,114[68] | No. 117 | -$10,510 |
| Property taxes | $1,978[69] | No. 7 | -$2,105 |
| Energy costs | $0.15 kWh[70] | No. 6 | -$0.01 |
The 44th-most affordable market in Wisconsin is Rhinelander's 54501 zip code. The median home value is $232,661. Rent in the market costs $1,399 per month on average, making it the 44th-most affordable rental market in Wisconsin.
The median property tax for households in Rhinelander is $1,978, which is the 7th-cheapest property tax rate in the state.
Rhinelander ranks No. 6 among Wisconsin markets by energy costs, with households paying $0.15 per kWh of electricity.
How we ranked the most affordable places in Wisconsin
We evaluated 171 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 23.8% 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 23.8% 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 4.8% 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 4.8% 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 11.9% 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 4.8% 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 11.9% 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 7.1% 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 7.1% 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.
