Total monthly cost of ownership
Cost to Own a Home in Merton, Wisconsin
A $540,000 home here costs
$4,184per 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 $179,500 a year.
A standard mortgage calculator would have told you $2,944. The real number is $1,240 higher every month, 42% more than the payment most buyers budget for.
Compare Waukesha County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Merton from a five-year rolling sample, and with about 3,495 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 Waukesha 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.
Merton against Waukesha County and Wisconsin
| Measure | Merton | Waukesha County |
|---|---|---|
| Median home value | $539,900 | $373,600 |
| Median property tax | $5,497 | $4,525 |
| Effective tax rate | 1.018% | 1.211% |
| Median gross rent | $1,148 | $1,300 |
| Population | 3,495 | 409,040 |
The weather behind that power bill
Merton sits in Waukesha County, which averages a high of 81.4°F in its hottest month and a low of 11.6°F in its coldest, with 35.95" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 559 cooling and 7,247 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for Waukesha County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Waukesha County
Full Waukesha County cost breakdown · Every county in Wisconsin
Talk to someone who works this market
These are Merton 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 Merton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Merton I already own here and may sell
Common questions
How much does it cost to own a home in Merton?
A $540,000 home in Merton, Wisconsin costs approximately $4,184 per month with 20% down at 7.24%. That is $2,944 principal and interest, $458 property tax, $139 homeowners insurance, $193 utilities and $450 set aside for maintenance.
What is the property tax rate in Merton?
Merton has an effective property tax rate of 1.018%, based on a median home value of $539,900 and median real estate taxes of $5,497. That is lower than the Waukesha County average of 1.211%.
What is the average home price in Merton?
The median owner-occupied home value in Merton, Wisconsin is $539,900, against $373,600 across Waukesha County.
Is it cheaper to rent or buy in Merton?
Median gross rent in Merton is $1,148 a month, against $4,184 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 Merton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Merton, Wisconsin at today's rate takes a household income of roughly $179,500 a year. That covers the full $4,184 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Merton, 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.