Acquiring financial stability in the largest cities in the U.S. now requires a household income of more than six figures, according to a new report from GoBankingRates.com.
Researchers found that enjoying a comfortable lifestyle requires a minimum of earning $102,000 annually across the 50 largest U.S. cities, including Milwaukee. Meanwhile, Milwaukee residents are facing increasing rent prices and concerns about food insecurity, especially in younger people.
The report determined the household income necessary to thrive in the U.S. by analyzing the 50 largest cities based on population, along with key factors like annual grocery and child-care costs, and monthly mortgage expenses.
Here’s a look at how much money you’ll need to live comfortably in Milwaukee in 2025.
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How much money do you need to live comfortably in Milwaukee?
Milwaukee residents need a household income of $134,193 to live comfortably, according to GoBankingRates.com. Milwaukee ranked 20th-highest among the 50 cities in the report.
Home owners in Milwaukee have an annual mortgage cost of $14,323, according to the report. The annual price of grocery totals $8,418, health care costs $7,103 and child care costs $31,929 annually.
What is a middle-class income in Wisconsin?
According to GoBankingRates.com, the median household income needed to be middle class in Wisconsin is $72,458. The lowest end of the middle-class income range is $48,305, with the highest end at $144,916 annually.
Most expensive cities to achieve financially stability
These are the top five most expensive cities in the U.S. to achieve financially stability, according to GoBankingRates.com:
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Washington, D.C. (Income needed: $189,306)
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San Jose, California ($167,958)
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This article originally appeared on Milwaukee Journal Sentinel: This is Milwaukee household income needed to be financially stable
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