Total monthly cost of ownership
Cost to Own a Home in Merrill, Wisconsin
A $113,000 home here costs
$1,134per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $581. The real number is $553 higher every month — 95% 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.
Merrill against Lincoln County and Wisconsin
| Measure | Merrill | Lincoln County |
|---|---|---|
| Median home value | $113,200 | $177,700 |
| Median property tax | $2,220 | $2,530 |
| Effective tax rate | 1.961% | 1.424% |
| Median gross rent | $784 | $768 |
| Population | 9,224 | 28,403 |
The weather behind that power bill
Merrill sits in Lincoln County, which averages a high of 80.2°F in its hottest month and a low of 3.4°F in its coldest, with 33.76" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 373 cooling and 8,667 heating degree days, which is what sets the $177 electricity line above.
See the full climate breakdown for Lincoln County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lincoln County
Full Lincoln County cost breakdown · Every county in Wisconsin
Common questions
How much does it cost to own a home in Merrill?
A $113,000 home in Merrill, Wisconsin costs approximately $1,134 per month with 20% down at 6.66%. That is $581 principal and interest, $185 property tax, $29 homeowners insurance, $245 utilities and $94 set aside for maintenance.
What is the property tax rate in Merrill?
Merrill has an effective property tax rate of 1.961%, based on a median home value of $113,200 and median real estate taxes of $2,220. That is higher than the Lincoln County average of 1.424%.
What is the average home price in Merrill?
The median owner-occupied home value in Merrill, Wisconsin is $113,200, against $177,700 across Lincoln County.
Is it cheaper to rent or buy in Merrill?
Median gross rent in Merrill is $784 a month, against $1,134 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 Merrill — 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.