The typical owner-occupied home in Random Lake is worth about $278,900, 5% above the Wisconsin median of $266,500 and 16% below the national median of $332,700. Owners pay a median $3,702 a year in property taxes, about 1.33% of their home's value, lower than the Wisconsin rate of 1.42%. The median household earns $89,601 a year, so the median home costs 3.1 times the median income (3.4 times for Wisconsin). 77% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Random Lake at a glance
| Random Lake | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $278,900 | $266,500 | $332,700 |
| Median property tax paid per year | $3,702 | $3,792 | $3,119 |
| Property tax as a share of value | 1.33% | 1.42% | 0.94% |
| Median household income | $89,601 | $77,485 | $80,734 |
| Homes lived in by their owners | 77% | 68% | 65% |
| Owner homes with a mortgage | 67% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,563 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 20.7% | 19.5% | 21.0% |
| Median rent | $858 | $1,087 | $1,413 |
| Rent as a share of renters' income | 18.9% | 27.2% | 30.6% |
| Median year homes were built | 1969 | 1975 | 1980 |
| Vacant homes | 10.3% | 10.8% | 10.1% |
| Population | 1,575 | 5,914,872 | 334,922,499 |
What a typical home costs per month in Random Lake
At this week's average 30-year rate of 7.11%, buying the median Random Lake home of $278,900 with 20% down costs about $1,926 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,391, 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 $82,554 for the 20%-down payment. That payment is 26% of the median Random Lake household income of $89,601; at that income and 20% down, the 28% guideline points to a home of about $303,000.
The median rent here is $858 a month, so owning the median home costs about $1,068 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $55,780 |
|---|---|
| Loan amount | $223,120 |
| Principal and interest | $1,501 |
| Property taxes (1.33% a year) | $309 |
| Homeowners insurance (our estimate, 0.5% a year) | $116 |
| PMI | $0 |
| Total per month | $1,926 |
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| Down payment | $9,762 |
|---|---|
| Loan amount | $273,848 |
| Principal and interest | $1,842 |
| Property taxes (1.33% a year) | $309 |
| Homeowners insurance (our estimate, 0.5% a year) | $116 |
| FHA mortgage insurance | $123 |
| Total per month | $2,391 |
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Questions about home buying in Random Lake
What is the median home value in Random Lake?
About $278,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Random Lake?
Homeowners pay a median $3,702 a year, which is about 1.33% 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 Random Lake?
For the median home with 20% down at 7.11%, the payment is about $1,926 a month. Keeping that under 28% of gross income takes about $82,554 a year.
More about Random Lake
- Mortgage Refinance in Random Lake
- Debt Relief in Random Lake
- Home Equity Loans in Random 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