Total monthly cost of ownership
Cost to Own a Home in Washburn, Wisconsin
A $174,000 home here costs
$1,539per 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 $66,000 a year.
A standard mortgage calculator would have told you $949. The real number is $591 higher every month, 62% more than the payment most buyers budget for.
Compare Bayfield County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Washburn from a five-year rolling sample, and with about 1,858 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 Bayfield 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.
Washburn against Bayfield County and Wisconsin
| Measure | Washburn | Bayfield County |
|---|---|---|
| Median home value | $174,100 | $228,100 |
| Median property tax | $2,495 | $2,432 |
| Effective tax rate | 1.433% | 1.066% |
| Median gross rent | $779 | $789 |
| Population | 1,858 | 16,410 |
The weather behind that power bill
Washburn sits in Bayfield County, which averages a high of 78.9°F in its hottest month and a low of 5.8°F in its coldest, with 27.85" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 259 cooling and 8,796 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for Bayfield County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bayfield County
Full Bayfield County cost breakdown · Every county in Wisconsin
Talk to someone who works this market
These are Washburn 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 Washburn every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Washburn I already own here and may sell
Common questions
How much does it cost to own a home in Washburn?
A $174,000 home in Washburn, Wisconsin costs approximately $1,539 per month with 20% down at 7.24%. That is $949 principal and interest, $208 property tax, $45 homeowners insurance, $193 utilities and $145 set aside for maintenance.
What is the property tax rate in Washburn?
Washburn has an effective property tax rate of 1.433%, based on a median home value of $174,100 and median real estate taxes of $2,495. That is higher than the Bayfield County average of 1.066%.
What is the average home price in Washburn?
The median owner-occupied home value in Washburn, Wisconsin is $174,100, against $228,100 across Bayfield County.
Is it cheaper to rent or buy in Washburn?
Median gross rent in Washburn is $779 a month, against $1,539 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 Washburn?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Washburn, Wisconsin at today's rate takes a household income of roughly $66,000 a year. That covers the full $1,539 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Washburn, 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.