Total monthly cost of ownership
Cost to Own a Home in Elkhart Lake, Wisconsin
A $285,000 home here costs
$2,312per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,465. The real number is $846 higher every month — 58% more than the payment most buyers budget for.
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 $177 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
Common questions
How much does it cost to own a home in Elkhart Lake?
A $285,000 home in Elkhart Lake, Wisconsin costs approximately $2,312 per month with 20% down at 6.66%. That is $1,465 principal and interest, $290 property tax, $73 homeowners insurance, $245 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 $2,312 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.