The typical owner-occupied home in North Lake is worth about $384,400, 44% above the Wisconsin median of $266,500 and 16% above the national median of $332,700. Owners pay a median $3,813 a year in property taxes, about 0.99% of their home's value, lower than the Wisconsin rate of 1.42%. The median household earns $67,321 a year, so the median home costs 5.7 times the median income (3.4 times for Wisconsin). 79% of occupied homes here are lived in by their owners, and 82% of those owners still have a mortgage.
North Lake at a glance
| North Lake | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $384,400 | $266,500 | $332,700 |
| Median property tax paid per year | $3,813 | $3,792 | $3,119 |
| Property tax as a share of value | 0.99% | 1.42% | 0.94% |
| Median household income | $67,321 | $77,485 | $80,734 |
| Homes lived in by their owners | 79% | 68% | 65% |
| Owner homes with a mortgage | 82% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,956 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 35.2% | 19.5% | 21.0% |
| Median rent | $893 | $1,087 | $1,413 |
| Rent as a share of renters' income | 51.0% | 27.2% | 30.6% |
| Median year homes were built | 1957 | 1975 | 1980 |
| Vacant homes | 27.3% | 10.8% | 10.1% |
| Population | 348 | 5,914,872 | 334,922,499 |
What a typical home costs per month in North Lake
At this week's average 30-year rate of 7.11%, buying the median North Lake home of $384,400 with 20% down costs about $2,546 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,186, 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 $109,115 for the 20%-down payment. That payment is 45% of the median North Lake household income of $67,321; at that income and 20% down, the 28% guideline points to a home of about $237,000.
The median rent here is $893 a month, so owning the median home costs about $1,653 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $76,880 |
|---|---|
| Loan amount | $307,520 |
| Principal and interest | $2,069 |
| Property taxes (0.99% a year) | $317 |
| Homeowners insurance (our estimate, 0.5% a year) | $160 |
| PMI | $0 |
| Total per month | $2,546 |
Change the numbers in the calculator
| Down payment | $13,454 |
|---|---|
| Loan amount | $377,438 |
| Principal and interest | $2,539 |
| Property taxes (0.99% a year) | $317 |
| Homeowners insurance (our estimate, 0.5% a year) | $160 |
| FHA mortgage insurance | $170 |
| Total per month | $3,186 |
Change the numbers in the calculator
Questions about home buying in North Lake
What is the median home value in North Lake?
About $384,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in North Lake?
Homeowners pay a median $3,813 a year, which is about 0.99% 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 North Lake?
For the median home with 20% down at 7.11%, the payment is about $2,546 a month. Keeping that under 28% of gross income takes about $109,115 a year.
More about North Lake
- Mortgage Refinance in North Lake
- Debt Relief in North Lake
- Home Equity Loans in North 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