The typical owner-occupied home in Brooklyn is worth about $268,900, about the same as the Wisconsin median of $266,500 and 19% below the national median of $332,700. Owners pay a median $4,736 a year in property taxes, about 1.76% of their home's value, higher than the Wisconsin rate of 1.42%. The median household earns $108,929 a year, so the median home costs 2.5 times the median income (3.4 times for Wisconsin). 90% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Brooklyn at a glance
| Brooklyn | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $268,900 | $266,500 | $332,700 |
| Median property tax paid per year | $4,736 | $3,792 | $3,119 |
| Property tax as a share of value | 1.76% | 1.42% | 0.94% |
| Median household income | $108,929 | $77,485 | $80,734 |
| Homes lived in by their owners | 90% | 68% | 65% |
| Owner homes with a mortgage | 75% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,851 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 19.8% | 19.5% | 21.0% |
| Median rent | $1,375 | $1,087 | $1,413 |
| Rent as a share of renters' income | 30.8% | 27.2% | 30.6% |
| Median year homes were built | 1987 | 1975 | 1980 |
| Vacant homes | 1.5% | 10.8% | 10.1% |
| Population | 1,408 | 5,914,872 | 334,922,499 |
What a typical home costs per month in Brooklyn
At this week's average 30-year rate of 7.11%, buying the median Brooklyn home of $268,900 with 20% down costs about $1,954 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,402, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $83,724 for the 20%-down payment. That payment is 22% of the median Brooklyn household income of $108,929; at that income and 20% down, the 28% guideline points to a home of about $350,000.
The median rent here is $1,375 a month, so owning the median home costs about $579 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $53,780 |
|---|---|
| Loan amount | $215,120 |
| Principal and interest | $1,447 |
| Property taxes (1.76% a year) | $394 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| PMI | $0 |
| Total per month | $1,954 |
Change the numbers in the calculator
| Down payment | $9,412 |
|---|---|
| Loan amount | $264,030 |
| Principal and interest | $1,776 |
| Property taxes (1.76% a year) | $394 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| FHA mortgage insurance | $119 |
| Total per month | $2,402 |
Change the numbers in the calculator
Questions about home buying in Brooklyn
What is the median home value in Brooklyn?
About $268,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Brooklyn?
Homeowners pay a median $4,736 a year, which is about 1.76% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Brooklyn?
For the median home with 20% down at 7.11%, the payment is about $1,954 a month. Keeping that under 28% of gross income takes about $83,724 a year.
More about Brooklyn
- Mortgage Refinance in Brooklyn
- Debt Relief in Brooklyn
- Home Equity Loans in Brooklyn
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data