Total monthly cost of ownership
Cost to Own a Home in Elkhart Lake, Wisconsin
A $285,000 home here costs
$2,348per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $100,500 a year.
A standard mortgage calculator would have told you $1,554. The real number is $794 higher every month, 51% more than the payment most buyers budget for.
Compare Sheboygan County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Elkhart Lake from a five-year rolling sample, and with about 1,097 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Sheboygan County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Elkhart Lake against Sheboygan County and Wisconsin
| Measure | Elkhart Lake | Sheboygan County |
|---|---|---|
| Median home value | $285,200 | $218,400 |
| Median property tax | $3,482 | $3,234 |
| Effective tax rate | 1.221% | 1.481% |
| Median gross rent | $1,121 | $889 |
| Population | 1,097 | 117,783 |
The weather behind that power bill
Elkhart Lake sits in Sheboygan County, which averages a high of 81.9°F in its hottest month and a low of 14.7°F in its coldest, with 34.68" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 603 cooling and 6,919 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for Sheboygan County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sheboygan County
Full Sheboygan County cost breakdown · Every county in Wisconsin
Talk to someone who works this market
These are Elkhart Lake averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Elkhart Lake every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Elkhart Lake I already own here and may sell
Common questions
How much does it cost to own a home in Elkhart Lake?
A $285,000 home in Elkhart Lake, Wisconsin costs approximately $2,348 per month with 20% down at 7.24%. That is $1,554 principal and interest, $290 property tax, $73 homeowners insurance, $193 utilities and $238 set aside for maintenance.
What is the property tax rate in Elkhart Lake?
Elkhart Lake has an effective property tax rate of 1.221%, based on a median home value of $285,200 and median real estate taxes of $3,482. That is lower than the Sheboygan County average of 1.481%.
What is the average home price in Elkhart Lake?
The median owner-occupied home value in Elkhart Lake, Wisconsin is $285,200, against $218,400 across Sheboygan County.
Is it cheaper to rent or buy in Elkhart Lake?
Median gross rent in Elkhart Lake is $1,121 a month, against $2,348 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Elkhart Lake?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Elkhart Lake, Wisconsin at today's rate takes a household income of roughly $100,500 a year. That covers the full $2,348 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Elkhart Lake, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Wisconsin.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.