Total monthly cost of ownership
Cost to Own a Home in Wisconsin Rapids, Wisconsin
A $117,000 home here costs
$1,147per 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 $49,000 a year.
A standard mortgage calculator would have told you $638. The real number is $509 higher every month, 80% more than the payment most buyers budget for.
Compare Wood 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.
Wisconsin Rapids against Wood County and Wisconsin
| Measure | Wisconsin Rapids | Wood County |
|---|---|---|
| Median home value | $116,600 | $168,100 |
| Median property tax | $2,254 | $2,629 |
| Effective tax rate | 1.933% | 1.564% |
| Median gross rent | $872 | $831 |
| Population | 18,756 | 74,039 |
The weather behind that power bill
Wisconsin Rapids sits in Wood County, which averages a high of 82.4°F in its hottest month and a low of 7.7°F in its coldest, with 31.3" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 502 cooling and 7,830 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for Wood County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wood County
Talk to someone who works this market
These are Wisconsin Rapids 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 Wisconsin Rapids every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Wisconsin Rapids?
A $117,000 home in Wisconsin Rapids, Wisconsin costs approximately $1,147 per month with 20% down at 7.24%. That is $638 principal and interest, $188 property tax, $30 homeowners insurance, $193 utilities and $98 set aside for maintenance.
What is the property tax rate in Wisconsin Rapids?
Wisconsin Rapids has an effective property tax rate of 1.933%, based on a median home value of $116,600 and median real estate taxes of $2,254. That is higher than the Wood County average of 1.564%.
What is the average home price in Wisconsin Rapids?
The median owner-occupied home value in Wisconsin Rapids, Wisconsin is $116,600, against $168,100 across Wood County.
Is it cheaper to rent or buy in Wisconsin Rapids?
Median gross rent in Wisconsin Rapids is $872 a month, against $1,147 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 Wisconsin Rapids?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wisconsin Rapids, Wisconsin at today's rate takes a household income of roughly $49,000 a year. That covers the full $1,147 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wisconsin Rapids, 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.