The typical owner-occupied home in Baileys Harbor is worth about $385,900, 45% above the Wisconsin median of $266,500 and 16% above the national median of $332,700. Owners pay a median $3,406 a year in property taxes, about 0.88% of their home's value, lower than the Wisconsin rate of 1.42%. The median household earns $80,556 a year, so the median home costs 4.8 times the median income (3.4 times for Wisconsin). 67% of occupied homes here are lived in by their owners, and 44% of those owners still have a mortgage.
Baileys Harbor at a glance
| Baileys Harbor | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $385,900 | $266,500 | $332,700 |
| Median property tax paid per year | $3,406 | $3,792 | $3,119 |
| Property tax as a share of value | 0.88% | 1.42% | 0.94% |
| Median household income | $80,556 | $77,485 | $80,734 |
| Homes lived in by their owners | 67% | 68% | 65% |
| Owner homes with a mortgage | 44% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,083 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 20.0% | 19.5% | 21.0% |
| Median rent | $1,340 | $1,087 | $1,413 |
| Rent as a share of renters' income | 24.5% | 27.2% | 30.6% |
| Median year homes were built | 1980 | 1975 | 1980 |
| Vacant homes | 28.2% | 10.8% | 10.1% |
| Population | 386 | 5,914,872 | 334,922,499 |
What a typical home costs per month in Baileys Harbor
At this week's average 30-year rate of 7.11%, buying the median Baileys Harbor home of $385,900 with 20% down costs about $2,521 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,163, 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 $108,024 for the 20%-down payment. That payment is 38% of the median Baileys Harbor household income of $80,556; at that income and 20% down, the 28% guideline points to a home of about $288,000.
The median rent here is $1,340 a month, so owning the median home costs about $1,181 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $77,180 |
|---|---|
| Loan amount | $308,720 |
| Principal and interest | $2,077 |
| Property taxes (0.88% a year) | $283 |
| Homeowners insurance (our estimate, 0.5% a year) | $161 |
| PMI | $0 |
| Total per month | $2,521 |
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| Down payment | $13,506 |
|---|---|
| Loan amount | $378,910 |
| Principal and interest | $2,549 |
| Property taxes (0.88% a year) | $283 |
| Homeowners insurance (our estimate, 0.5% a year) | $161 |
| FHA mortgage insurance | $171 |
| Total per month | $3,163 |
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Questions about home buying in Baileys Harbor
What is the median home value in Baileys Harbor?
About $385,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Baileys Harbor?
Homeowners pay a median $3,406 a year, which is about 0.88% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Baileys Harbor?
For the median home with 20% down at 7.11%, the payment is about $2,521 a month. Keeping that under 28% of gross income takes about $108,024 a year.
More about Baileys Harbor
- Mortgage Refinance in Baileys Harbor
- Debt Relief in Baileys Harbor
- Home Equity Loans in Baileys Harbor
- 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