State Comparison
Minnesota vs Wisconsin
Side-by-side comparison of 16 financial metrics using documented public datasets and estimates, with sources listed below.
Overall Score
Cost of Living
Housing
Taxes
Income & Employment
Business
Insurance & Living
Key Takeaways
- 1
Wisconsin leads in 9 of 16 financial metrics, making it the more favorable state overall.
- 2
Housing: Median home prices are $357,000 in Minnesota vs $342,000 in Wisconsin — a $15,000 difference.
- 3
Taxes: Minnesota has a 9.85% top income tax rate while Wisconsin has a 7.65% top rate. Property tax rates are 1% vs 1.32%.
- 4
Cost of Living: Minnesota's index is 93.4 and Wisconsin's is 97.4 (national average = 100).
Run the Numbers
Use our free calculators with real Minnesota and Wisconsin data to model your specific scenario.
Frequently Asked Questions
Is Minnesota or Wisconsin more affordable?
Minnesota has a lower cost of living index (93.4) compared to Wisconsin (97.4), where 100 is the national average. However, affordability depends on your specific situation — compare housing, taxes, and income together for a complete picture.
Which state has lower taxes — Minnesota or Wisconsin?
It depends on what you earn, spend, and own — the three rates below apply to different bases (income, purchases, and home value), so they cannot be added into a single burden figure. On the headline rates alone, Wisconsin is lower on more of them. Minnesota has a 9.85% top income tax, 6.875% state sales tax, and a 1% effective property tax rate. Wisconsin has a 7.65% top income tax, 5% state sales tax, and a 1.32% effective property tax rate.
What are housing costs in Minnesota vs Wisconsin?
The typical home value in Minnesota is $357,000 compared to $342,000 in Wisconsin (Zillow Home Value Index, June 2026). For renters, HUD's FY2026 Fair Market Rent for a 2-bedroom unit — the 40th-percentile gross rent, not an average — is $1,504/month in Minnesota vs $1,287/month in Wisconsin.
Which state is better for starting a business — Minnesota or Wisconsin?
LLC filing costs are $155 in Minnesota vs $130 in Wisconsin, with annual fees of $0 and $25 respectively. Minnesota's 9.85% top tax rate compared to Wisconsin's 7.65% rate may also factor into your decision.
Should I move from Minnesota to Wisconsin?
It depends on your priorities. Wisconsin wins in 9 of 16 metrics we compared. Use our free calculators to model your specific financial scenario — including salary, property tax, and cost of living for each state.
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Related Comparisons
Comparing Minnesota and Wisconsin
When deciding between living in Minnesota or Wisconsin, the financial picture goes beyond just one metric. This comparison analyzes 16 key financial indicators drawn from the U.S. Census Bureau (American Community Survey), the Tax Foundation, HUD Fair Market Rents, Zillow's Home Value Index, the NAIC's insurance databases, the U.S. Department of Labor, C2ER's Cost of Living Index, and state agencies, to give you a comprehensive overview.
Minnesota (MN) has a median household income of $87,117 with a cost of living index of 93.4. Wisconsin (WI) has a median household income of $77,488 with a cost of living index of 97.4. Income figures are Census ACS 1-year estimates (table B19013, 2024); the cost-of-living index is C2ER's Q1 2026 survey via MERIC, where 100 is the national average of surveyed cities.
These numbers are estimates. Individual circumstances vary based on location within each state, family size, profession, and lifestyle. Use our free Minnesota calculator or Wisconsin calculator to model your specific financial scenario.
Sources per metric are named in each row's note above. Last reviewed . Some values are estimates; consult a qualified professional for financial advice.