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 | Pepin County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $275,000 | $176,921 | $242,182 |
| Price Trend (Annual %) | 10.2% | 5.3% | 8.2% |
| Median Gross Rent | $860 | $1,045 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pepin County is about 55% higher than in Wisconsin. Rent is about 18% lower than the Wisconsin average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Pepin County, up about 10.2% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Pepin County rose about 51.7% between 2015 and 2023, from $567 to $860. Over the same span, rent in Wisconsin rose about 34.7%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Pepin County.
Buying the median-priced home in Pepin County costs roughly 26.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pepin County. The price-to-rent ratio in Wisconsin is about 14.1.
| Metric | Pepin County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $275,000 | $176,921 | $242,182 |
| Median Household Income | $74,483 | $75,766 | $78,145 |
| Price-to-Income Ratio | 3.7 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pepin County rose about 70.2%, while median household income rose about 52.5% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Pepin County | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.7% | 60.4% | 58.2% |
| Rental Rate | 13.9% | 28.6% | 31.3% |
| Vacancy Rate | 15.3% | 11.1% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Pepin County has a homeownership rate of 70.7%, higher than the Wisconsin average of 60.4%. Its housing vacancy rate is 15.3%, compared with 11.1% in Wisconsin.
Housing Stock
| Metric | Pepin County | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.35 people | 2.54 people |
| Median Structure Built Year | 1972 | 1973 | 1978 |
| Median Number of Rooms | 6.3 | 5.6 | 5.5 |
The typical housing unit in Pepin County was built around 1972. On average, 2.4 people live in a home with about 6.3 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pepin County, Wisconsin.
What is the median home price in Pepin County, Wisconsin?
The median home price in Pepin County, Wisconsin is $275,000, higher than the Wisconsin average of $176,921.
What is the average home price in Pepin 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 Pepin County, Wisconsin?
The median gross rent in Pepin County, Wisconsin is $860 per month, lower than the Wisconsin average of $1,045.
What was the median gross rent in Pepin County in 2020?
In 2020, the median gross rent in Pepin County, Wisconsin was $632 per month.
What is the price-to-rent ratio in Pepin County, Wisconsin?
The price-to-rent ratio in Pepin County, Wisconsin is about 26.7, meaning it would take roughly 26.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pepin County.
Are home prices or rent rising faster in Pepin County, Wisconsin?
Both home prices and rent are rising in Pepin County, up about 10.2% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pepin County, Wisconsin?
70.7% of households in Pepin County, Wisconsin own their home, higher than the Wisconsin average of 60.4%.
What is the vacancy rate in Pepin County, Wisconsin?
The housing vacancy rate in Pepin County, Wisconsin is 15.3%, higher than the Wisconsin average of 11.1%.