Total monthly cost of ownership
Cost to Own a Home in Waterford, Wisconsin
A $313,000 home here costs
$2,687per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $115,000 a year.
A standard mortgage calculator would have told you $1,734. The real number is $953 higher every month, 55% more than the payment most buyers budget for.
Compare Racine 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.
Waterford against Racine County and Wisconsin
| Measure | Waterford | Racine County |
|---|---|---|
| Median home value | $312,700 | $239,400 |
| Median property tax | $5,045 | $4,071 |
| Effective tax rate | 1.613% | 1.701% |
| Median gross rent | $1,278 | $1,017 |
| Population | 5,627 | 196,888 |
The weather behind that power bill
Waterford sits in Racine County, which averages a high of 81.4°F in its hottest month and a low of 16.0°F in its coldest, with 31.77" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 654 cooling and 6,682 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for Racine County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Racine County
Full Racine County cost breakdown · Every county in Wisconsin
Talk to someone who works this market
These are Waterford 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 Waterford every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Waterford I already own here and may sell
Common questions
How much does it cost to own a home in Waterford?
A $313,000 home in Waterford, Wisconsin costs approximately $2,687 per month with 20% down at 7.4%. That is $1,734 principal and interest, $421 property tax, $81 homeowners insurance, $191 utilities and $261 set aside for maintenance.
What is the property tax rate in Waterford?
Waterford has an effective property tax rate of 1.613%, based on a median home value of $312,700 and median real estate taxes of $5,045. That is lower than the Racine County average of 1.701%.
What is the average home price in Waterford?
The median owner-occupied home value in Waterford, Wisconsin is $312,700, against $239,400 across Racine County.
Is it cheaper to rent or buy in Waterford?
Median gross rent in Waterford is $1,278 a month, against $2,687 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 Waterford?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Waterford, Wisconsin at today's rate takes a household income of roughly $115,000 a year. That covers the full $2,687 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Waterford, 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.