For a more affordable way of life and strong job opportunities combined with less risk of extreme weather events, head to the heartland—specifically to Wisconsin.
Four of the hottest markets in the latest Wall Street Journal/Realtor.com® Housing Market Ranking all boasted an unemployment rate below the national level of 4.2% in March. And three of the four are in one lucky state: Wisconsin.
The four hot metros—Fort Wayne, IN (4.1% below), Milwaukee (3.8% below), Green Bay, WI (3.3% below), and Appleton, WI (3.1% below)—also come with lower costs of living, lower median home prices, and higher climate resiliency.
Climate resiliency
Climate change was probably something the average homeowner didn’t consider in the past. However, the bold and scary headlines about the Los Angeles County wildfires, beachfront homes falling into the ocean, and insurance companies pulling up stakes or dramatically increasing premiums mean climate resiliency is now something on the wants list.
“As home shoppers look to minimize housing costs and the risk of unexpected expenses, recent weather events, such as the devastation from wildfires in Southern California and from hurricanes in Florida and North Carolina, are top-of-mind,” says the report.
Nationwide, more than 2 in 5 homes confront at least severe or extreme exposure to at least one of the climate risks accounted for in the report, and the next few decades will see millions of “climate migrants” switching locations.
More than 55 million Americans will “voluntarily relocate” within the U.S. to areas less susceptible to climate risks by 2055, beginning with 5.2 million this year alone, according to a 2025 First Street report. And insurance costs are set to surge by 29.4% in the next 30 years.
The Midwest is attractive not only for its lower price range and cost of living, but also its much lower risk of damage due to climate-related events over the next few decades.
“The Midwest is not only the most affordable of the U.S. regions, thereby attracting cash-conscious buyers, it also comes with the lowest climate risk among the studied challenges, two factors which contribute to the majority of the top 20 housing markets being in the Midwest,” says the report.
Of the four metros, Appleton is the most climate-resilient, with only 1.1% share of homes with a high risk of damage from climate-related events. Appleton has a lesser risk than even Toledo, OH, the report’s No. 1-ranked city, which has a 1.5% share.
As of 2023, Appleton had a population of 74,719, boasts a major international airport, and yet comes with lots of historical charm and a small-town feel.
Next up is Fort Wayne, with 1.8%, followed by Green Bay and Milwaukee, both with 2.2%. These risk percentiles are all significantly lower than the average of 4.7% for the top 20 metros.
(Realtor.com)
Lower cost of living
It’s not just a lesser risk of climate disaster that makes these heartland metros appealing to homebuyers. Along with having a lower unemployment rate, these four cities have a lower cost of living.
“The cost of everyday necessities is below the national norm in each of these metros,” says Hannah Jones, senior economic research analyst at Realtor.com.
Fort Wayne has the lowest cost of living, with the price of everyday necessities 10% below the national level, followed by Green Bay (7.9% below), Appleton (6.4% below), and Milwaukee (4.5% below).
(Realtor.com)
Cost of living takes into account much more than housing costs. It looks at the cost of everyday necessities such as food, housing, transportation, medical expenses, and other common expenditures.
Though a lower cost of living ordinarily might point to a weakened job and housing market, that’s not so in these four industry-robust areas.
“These four metro areas boast strong housing markets, which are enabled by and supported by healthy job markets and affordable everyday expenditures and amenities,” says Jones.
If you are looking for more affordable housing, these metros have that, too.
Fort Wayne has the lowest median price, at $310,000 (the national median is $449,000). Milwaukee has the next lowest, at $375,000, followed by Appleton, at $426,000. Only Green Bay, at $490,000, is somewhat higher than the national.
(Realtor.com)
Why is Wisconsin so attractive?
Known for its thriving dairy and cheese industries, beer culture, Green Bay Packers, and outdoor activities such as hiking, camping, and skiing, Wisconsin also offers residents affordability and job opportunities.
“Wisconsin has long boasted affordable home prices and other desirable attributes, but today’s challenging housing market has amplified its appeal,” explains Jones. “Today’s buyers are looking for [more] bang for their buck and finding it in many Wisconsin metros.”
(Realtor.com)
