- Wisconsin is a great place to live, according to a study done by
NerdWallet. The study analyzed the 85 cities in Wisconsin that
have a population of over 10,000 residents.
According to study done by NerdWallet, the top places to live in
Wisconsin have home values under $250,000, and homeowners spent
less than 30 percent of their median income on their homes. 16 of
the top 20 cities met the former criteria, and 14 of the top 20
met the latter.
Waukesha County had several cities rank in the top 20: Pewaukee,
Muskego, and Oconomowoc.
Criteria used to determine city ranking were home availability,
affordability, and population growth.
Home availability is a key factor in determining a city’s
ranking, according to NerdWallet. A low ownership rate signals a
competitive inventory, which means more people rent instead of owning
a home. Additionally, ownership in these areas is expensive. Areas
with a high ownership rate scored better.
Affordability was determined by median household income, monthly
homeowner costs, and median home value. Areas with a high median
income and a low cost of living scored better.
Population growth ensures that the locale is attracting new
residents. This also typically means that the local economy is
doing well, according to NerdWallet.
The City of Pewaukee, with a rank of 10, has an 84.2 percent home
ownership rate and a median monthly household income of $6,867.
Over the two-year period of 2010-12, the city experienced a 2.4
percent growth in population.
Muskego, ranking 12, has a homeownership rate of 85.3 percent with
a median income of $7,006. The twoyear growth rate was 1.7
Oconomowoc, which ranked 14, has a 74.5 percent homeownership rate
and a median income of $6,017. The two-year growth rate was
Menomonee Falls and Brookfield ranked 27 and 29, respectively.
Menomonee Falls has a 75.1 percent homeownership rate and a 1.1
percent growth rate. Brookfield, on the other hand, did not have
any growth in population from 2010 to 2012. Instead, the study
showed a decrease of -0.5 percent. it did, however, have a
homeownership rate of 87.5 percent.
New Berlin, ranking 33, and Sussex, ranking 38, have similar
median monthly household income; New Berlin’s is $6,353, and
Sussex’s is $6,046. Waukesha is on the low end of
the list. With a rank of 70, it has a 58.9 percent homeownership
rate. Homeowner costs are 34 percent of household income, and the
median monthly household income is $4,839.
According to NerdWallet, the southern region specifically is an
excellent place to live, as 12 of the top 20 cities are near
Madison or Milwaukee. The top three cities are Suamico, Verona,