Total monthly cost of ownership
Cost to Own a Home in New Richmond, Wisconsin
A $269,000 home here costs
$2,276per 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 $97,500 a year.
A standard mortgage calculator would have told you $1,467. The real number is $810 higher every month, 55% more than the payment most buyers budget for.
Compare St. Croix County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
New Richmond against St. Croix County and Wisconsin
| Measure | New Richmond | St. Croix County |
|---|---|---|
| Median home value | $269,000 | $349,700 |
| Median property tax | $3,879 | $4,297 |
| Effective tax rate | 1.442% | 1.229% |
| Median gross rent | $1,070 | $1,238 |
| Population | 10,334 | 94,819 |
The weather behind that power bill
New Richmond sits in St. Croix County, which averages a high of 79.3°F in its hottest month and a low of 1.8°F in its coldest, with 32.97" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 401 cooling and 8,528 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for St. Croix County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in St. Croix County
Full St. Croix County cost breakdown · Every county in Wisconsin
Talk to someone who works this market
These are New Richmond 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 New Richmond every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Richmond I already own here and may sell
Common questions
How much does it cost to own a home in New Richmond?
A $269,000 home in New Richmond, Wisconsin costs approximately $2,276 per month with 20% down at 7.24%. That is $1,467 principal and interest, $323 property tax, $69 homeowners insurance, $193 utilities and $224 set aside for maintenance.
What is the property tax rate in New Richmond?
New Richmond has an effective property tax rate of 1.442%, based on a median home value of $269,000 and median real estate taxes of $3,879. That is higher than the St. Croix County average of 1.229%.
What is the average home price in New Richmond?
The median owner-occupied home value in New Richmond, Wisconsin is $269,000, against $349,700 across St. Croix County.
Is it cheaper to rent or buy in New Richmond?
Median gross rent in New Richmond is $1,070 a month, against $2,276 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 New Richmond?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Richmond, Wisconsin at today's rate takes a household income of roughly $97,500 a year. That covers the full $2,276 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Richmond, 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.