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These days, finding an affordable place to live in the Balsam Lake area can be challenging. Home prices in Balsam Lake are now at a median cost of $227,292, higher than the Wisconsin average of $220,185.
The average cost of rent is $986/mo in Balsam Lake, primarily driven by the current value of real estate in the Balsam Lake area. While nearly 43.96% of residents own their homes outright in Balsam Lake, 18.94% rent.
Housing affordability isn’t just about home prices, though. The average household income in Balsam Lake is $5,452 per month. Households that rent pay about 18.08% of their income on rent here. Balsam Lake's most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Lykens, WI: higher priced homes
- Centuria, WI: equally priced homes
- Lewis, WI: less expensive homes
- Milltown, WI: less expensive homes
- Fox Creek, WI: equally priced homes
- Range, WI: less expensive homes
- Ubet, WI: equally priced homes
- Amery, WI: less expensive homes
- Luck, WI: less expensive homes
- Sand Lake, WI: less expensive homes
Cities with Similar Populations
- Adair, IA: less expensive homes
- Webbers Falls, OK: less expensive homes
- Washington, NH: equally priced homes
- Van Horne, IA: less expensive homes
- Sunbury, GA: higher priced homes
- Stewart, MN: less expensive homes
- Plainfield, GA: less expensive homes
- Juda, WI: equally priced homes
- Gifford, IL: less expensive homes
- Eltopia, WA: equally priced homes
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