Elkhorn, WI

Below Avg · 78

Wisconsin · Population 10,259 · Updated March 2026

$999
Median Rent / Month
$73,052
Median Income
$255,300
Median Home Value
$1,205
Owner Costs / Month

Affordability

How far your income goes in Elkhorn

16.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Wisconsin

State-level tax rates that affect your costs

7.65%
Income Tax (Top Rate)
5.0%
Sales Tax
1.61%
Property Tax Rate

Estimated Annual Costs

$11,988
Annual Rent
$5,588
State Income Tax
$4,110
Property Tax (est.)

Cost of Living Overview

Elkhorn is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 78 (where 100 equals the national median), Elkhorn residents can expect to pay median rent of $999/month while earning a median household income of $73,052/year.

The median home value in Elkhorn, WI is $255,300, with typical monthly owner costs around $1,205 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Wisconsin has a moderate income tax rate of 7.65%. Combined with a 5.0% sales tax rate and 1.61% effective property tax rate, the overall tax environment is a factor in the total cost of living in Elkhorn.

Frequently Asked Questions

Common questions about living costs in Elkhorn

What is the cost of living in Elkhorn, WI?
The cost of living index in Elkhorn, WI is 78 (US average = 100). Median monthly rent is $999, median household income is $73,052/year, and the median home value is $255,300.
Is Elkhorn, WI affordable?
Yes, Elkhorn is more affordable than the national average with a cost index of 78. The rent-to-income ratio is 16.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Elkhorn, WI?
The median gross rent in Elkhorn, WI is $999 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,988.
What is the median household income in Elkhorn?
The median household income in Elkhorn, WI is $73,052 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Wisconsin?
Wisconsin has a top income tax rate of 7.65%, a sales tax of 5.0%, and an effective property tax rate of 1.61%.