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 | Vilas County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $242,646 | $176,921 | $242,182 |
| Price Trend (Annual %) | -2.6% | 5.3% | 8.2% |
| Median Gross Rent | $810 | $1,045 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Vilas County is about 37% higher than in Wisconsin. Rent is about 22% 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 Vilas County: home prices fell about 2.6% a year while rent rose about 2.7% a year. That is an unusual pattern worth watching.
Median rent in Vilas County rose about 20.6% between 2015 and 2023, from $672 to $810. Over the same span, rent in Wisconsin rose about 34.7%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Vilas County.
Buying the median-priced home in Vilas County costs roughly 25.0 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 Vilas County. The price-to-rent ratio in Wisconsin is about 14.1.
| Metric | Vilas County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $242,646 | $176,921 | $242,182 |
| Median Household Income | $66,796 | $75,766 | $78,145 |
| Price-to-Income Ratio | 3.6 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Vilas County fell about 17.0%, while median household income rose about 57.2% 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 | Vilas County | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.6% | 60.4% | 58.2% |
| Rental Rate | 7.3% | 28.6% | 31.3% |
| Vacancy Rate | 56.1% | 11.1% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Vilas County has a homeownership rate of 36.6%, lower than the Wisconsin average of 60.4%. Its housing vacancy rate is 56.1%, compared with 11.1% in Wisconsin.
Housing Stock
| Metric | Vilas County | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.13 people | 2.35 people | 2.54 people |
| Median Structure Built Year | 1980 | 1973 | 1978 |
| Median Number of Rooms | 5.1 | 5.6 | 5.5 |
The typical housing unit in Vilas County was built around 1980. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Vilas County, Wisconsin.
What is the median home price in Vilas County, Wisconsin?
The median home price in Vilas County, Wisconsin is $242,646, higher than the Wisconsin average of $176,921.
What is the average home price in Vilas 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 Vilas County, Wisconsin?
The median gross rent in Vilas County, Wisconsin is $810 per month, lower than the Wisconsin average of $1,045.
What was the median gross rent in Vilas County in 2020?
In 2020, the median gross rent in Vilas County, Wisconsin was $685 per month.
What is the price-to-rent ratio in Vilas County, Wisconsin?
The price-to-rent ratio in Vilas County, Wisconsin is about 25.0, meaning it would take roughly 25.0 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 Vilas County.
Are home prices or rent rising faster in Vilas County, Wisconsin?
Home prices and rent are moving in opposite directions in Vilas County: home prices fell about 2.6% a year while rent rose about 2.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Vilas County, Wisconsin?
36.6% of households in Vilas County, Wisconsin own their home, lower than the Wisconsin average of 60.4%.
What is the vacancy rate in Vilas County, Wisconsin?
The housing vacancy rate in Vilas County, Wisconsin is 56.1%, higher than the Wisconsin average of 11.1%.