Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Milwaukee might be more expensive than living in rural Wisconsin, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Milwaukee neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Milwaukee are the cheapest.
What’s the cheapest neighborhood to live in Milwaukee for 2020? According to the most recent census data, Bradley Estates looks to be the cheaptest Milwaukee neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Milwaukee. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Milwaukee that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Milwaukee.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Wisconsin reading, check out:
- Best Places To Live In Wisconsin
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- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Milwaukee Hoods In 2020
In order to rank the cheapest places to live in Milwaukee, we had to determine what criteria defines “cheap”.
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 175 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Milwaukee.” We’re lookin’ at you, Bradley Estates.
Read on below to learn more about what it’s like to live in the cheapest places Milwaukee. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Milwaukee For 2020
The median income in Bradley Estates comes in at $53,964 and the median home value is $104,167 for 2020.
The median income in Golden Valley comes in at $62,387 and the median home value is $137,750 for 2020.
The median income in Northridge Lakes comes in at $23,200 and the median home value is $46,700 for 2020.
The median income in Historic Third Ward comes in at $84,391 and the median home value is $129,250 for 2020.
The median income in Menomonee River Hills comes in at $46,088 and the median home value is $112,650 for 2020.
The median income in Kops Park comes in at $56,854 and the median home value is $122,175 for 2020.
The median income in Rufus King comes in at $32,002 and the median home value is $85,414 for 2020.
The median income in Mount Mary comes in at $72,966 and the median home value is $145,500 for 2020.
The median income in Goldman Park comes in at $65,040 and the median home value is $152,450 for 2020.
The median income in Capitol Heights comes in at $49,878 and the median home value is $95,673 for 2020.
Summing Up The Cheapest Places In Milwaukee
If you’re measuring the neighborhoods in Milwaukee where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Milwaukee aren’t all cheap. Riverside Park takes the title of the most expensive neighborhood to live in Milwaukee.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Wisconsin reading, check out:
- Cheapest Places To Live In Wisconsin
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- Richest Cities In Wisconsin
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- Worst Places To Live In Wisconsin