The typical owner-occupied home in Elkhorn is worth about $273,600, 3% above the Wisconsin median of $266,500 and 18% below the national median of $332,700. Owners pay a median $4,145 a year in property taxes, about 1.51% of their home's value, higher than the Wisconsin rate of 1.42%. The median household earns $77,649 a year, so the median home costs 3.5 times the median income (3.4 times for Wisconsin). 55% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Elkhorn at a glance
| Elkhorn | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $273,600 | $266,500 | $332,700 |
| Median property tax paid per year | $4,145 | $3,792 | $3,119 |
| Property tax as a share of value | 1.51% | 1.42% | 0.94% |
| Median household income | $77,649 | $77,485 | $80,734 |
| Homes lived in by their owners | 55% | 68% | 65% |
| Owner homes with a mortgage | 74% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,798 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 17.7% | 19.5% | 21.0% |
| Median rent | $1,034 | $1,087 | $1,413 |
| Rent as a share of renters' income | 24.5% | 27.2% | 30.6% |
| Median year homes were built | 1990 | 1975 | 1980 |
| Vacant homes | 1.3% | 10.8% | 10.1% |
| Population | 10,221 | 5,914,872 | 334,922,499 |
What a typical home costs per month in Elkhorn
At this week's average 30-year rate of 7.11%, buying the median Elkhorn home of $273,600 with 20% down costs about $1,931 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,386, 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 $82,744 for the 20%-down payment. That payment is 30% of the median Elkhorn household income of $77,649; at that income and 20% down, the 28% guideline points to a home of about $257,000.
The median rent here is $1,034 a month, so owning the median home costs about $897 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $54,720 |
|---|---|
| Loan amount | $218,880 |
| Principal and interest | $1,472 |
| Property taxes (1.51% a year) | $344 |
| Homeowners insurance (our estimate, 0.5% a year) | $114 |
| PMI | $0 |
| Total per month | $1,931 |
Change the numbers in the calculator
| Down payment | $9,576 |
|---|---|
| Loan amount | $268,644 |
| Principal and interest | $1,807 |
| Property taxes (1.51% a year) | $344 |
| Homeowners insurance (our estimate, 0.5% a year) | $114 |
| FHA mortgage insurance | $121 |
| Total per month | $2,386 |
Change the numbers in the calculator
Questions about home buying in Elkhorn
What is the median home value in Elkhorn?
About $273,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elkhorn?
Homeowners pay a median $4,145 a year, which is about 1.51% 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 Elkhorn?
For the median home with 20% down at 7.11%, the payment is about $1,931 a month. Keeping that under 28% of gross income takes about $82,744 a year.
More about Elkhorn
- Mortgage Refinance in Elkhorn
- Debt Relief in Elkhorn
- Home Equity Loans in Elkhorn
- 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