Salary Needed to Live in Milwaukee as a Retiree
A retired individual (65+) needs approximately $18,452/year to live comfortably in Milwaukee, WI — including 5% savings.
Comfortable Salary
$18,452
with 5% savings
Bare Minimum
$17,205
no savings buffer
Monthly Expenses
$1,061
12% below national avg
Detailed Monthly Budget for a Retiree in Milwaukee
| Expense | Milwaukee | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $113 | $121 | -7% |
| 🛒 Groceries | $16 | $16 | 0% |
| ⚡ Utilities | $10 | $15 | -33% |
| 🚗 Transportation | $15 | $18 | -17% |
| 🛡️ Car Insurance | $149 | $211 | -29% |
| 🏥 Health Insurance | $57 | $53 | +8% |
| Medicare Supplement | $182 | $200 | -9% |
| Prescription Drugs | $137 | $150 | -9% |
| Internet + Phone | $109 | $120 | -9% |
| Recreation & Social | $182 | $200 | -9% |
| Home Maintenance | $91 | $100 | -9% |
| Total Monthly | $1,061 | $1,204 | -12% |
How We Calculated the Salary
Monthly expenses:$1,061
Target savings (5%):$60/mo
Monthly after-tax needed:$1,121
Effective tax rate:26%
Gross annual salary needed:$18,452
Other Household Types in Milwaukee
Related Pages
FAQ
What salary does a retiree need in Milwaukee?
A retiree needs approximately $18,452/year ($1,538/month gross) to live comfortably in Milwaukee with a 5% savings rate.
How much is rent for a retiree in Milwaukee?
A 1-2br senior-friendly in Milwaukee costs approximately $113/month, which is the largest single expense at 11% of the total budget.
Is Milwaukee affordable for a retiree?
Yes, Milwaukee is 12% more affordable than the national average for a retiree.