The typical owner-occupied home in Wood Lake is worth about $55,000, 77% below the Nebraska median of $238,600 and 83% below the national median of $332,700. The median household earns $30,417 a year, so the median home costs 1.8 times the median income (3.1 times for Nebraska). 55% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Wood Lake at a glance
| Wood Lake | Nebraska | U.S. | |
|---|---|---|---|
| Median home value | $55,000 | $238,600 | $332,700 |
| Median property tax paid per year | – | $3,549 | $3,119 |
| Median household income | $30,417 | $76,475 | $80,734 |
| Homes lived in by their owners | 55% | 67% | 65% |
| Owner homes with a mortgage | 50% | 58% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,736 | $1,963 |
| Median rent | – | $1,072 | $1,413 |
| Median year homes were built | 1948 | 1975 | 1980 |
| Vacant homes | 47.6% | 7.6% | 10.1% |
| Population | 16 | 1,978,707 | 334,922,499 |
What a typical home costs per month in Wood Lake
At this week's average 30-year rate of 7.11%, buying the median Wood Lake home of $55,000 with 20% down costs about $369 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $461, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $15,828 for the 20%-down payment. That payment is 15% of the median Wood Lake household income of $30,417; at that income and 20% down, the 28% guideline points to a home of about $106,000.
| Down payment | $11,000 |
|---|---|
| Loan amount | $44,000 |
| Principal and interest | $296 |
| Property taxes (1.10% a year) | $50 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| PMI | $0 |
| Total per month | $369 |
Change the numbers in the calculator
| Down payment | $1,925 |
|---|---|
| Loan amount | $54,004 |
| Principal and interest | $363 |
| Property taxes (1.10% a year) | $50 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| FHA mortgage insurance | $24 |
| Total per month | $461 |
Change the numbers in the calculator
Questions about home buying in Wood Lake
What is the median home value in Wood Lake?
About $55,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Wood Lake?
For the median home with 20% down at 7.11%, the payment is about $369 a month. Keeping that under 28% of gross income takes about $15,828 a year.
More about Wood Lake
- Mortgage Refinance in Wood Lake
- Debt Relief in Wood Lake
- Home Equity Loans in Wood Lake
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data