Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Chippewa County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $18,085 | $176,921 | $242,182 |
| Price Trend (Annual %) | -13.0% | 5.3% | 8.2% |
| Median Gross Rent | $962 | $1,045 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chippewa County is about 90% lower than in Wisconsin. Rent is about 8% lower than the Wisconsin average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Chippewa County: home prices fell about 13.0% a year while rent rose about 3.6% a year. That is an unusual pattern worth watching.
Median rent in Chippewa County rose about 33.0% between 2015 and 2023, from $724 to $962. Over the same span, rent in Wisconsin rose about 34.7%.
Affordability
On average, housing unit costs 0.2 yearly household incomes in Chippewa County.
Buying the median-priced home in Chippewa County costs roughly 1.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Chippewa County. The price-to-rent ratio in Wisconsin is about 14.1.
| Metric | Chippewa County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $18,085 | $176,921 | $242,182 |
| Median Household Income | $74,200 | $75,766 | $78,145 |
| Price-to-Income Ratio | 0.2 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Chippewa County fell about 86.5%, while median household income rose about 51.0% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Chippewa County | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.3% | 60.4% | 58.2% |
| Rental Rate | 23.2% | 28.6% | 31.3% |
| Vacancy Rate | 8.4% | 11.1% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Chippewa County has a homeownership rate of 68.3%, higher than the Wisconsin average of 60.4%. Its housing vacancy rate is 8.4%, compared with 11.1% in Wisconsin.
Housing Stock
| Metric | Chippewa County | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.35 people | 2.54 people |
| Median Structure Built Year | 1976 | 1973 | 1978 |
| Median Number of Rooms | 6.0 | 5.6 | 5.5 |
The typical housing unit in Chippewa County was built around 1976. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chippewa County, Wisconsin.
What is the median home price in Chippewa County, Wisconsin?
The median home price in Chippewa County, Wisconsin is $18,085, lower than the Wisconsin average of $176,921.
What is the average home price in Chippewa County, Wisconsin?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Chippewa County, Wisconsin?
The median gross rent in Chippewa County, Wisconsin is $962 per month, lower than the Wisconsin average of $1,045.
What was the median gross rent in Chippewa County in 2020?
In 2020, the median gross rent in Chippewa County, Wisconsin was $844 per month.
What is the price-to-rent ratio in Chippewa County, Wisconsin?
The price-to-rent ratio in Chippewa County, Wisconsin is about 1.6, meaning it would take roughly 1.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Chippewa County.
Are home prices or rent rising faster in Chippewa County, Wisconsin?
Home prices and rent are moving in opposite directions in Chippewa County: home prices fell about 13.0% a year while rent rose about 3.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Chippewa County, Wisconsin?
68.3% of households in Chippewa County, Wisconsin own their home, higher than the Wisconsin average of 60.4%.
What is the vacancy rate in Chippewa County, Wisconsin?
The housing vacancy rate in Chippewa County, Wisconsin is 8.4%, lower than the Wisconsin average of 11.1%.