Oconomowoc, WI

Average · 102

Wisconsin · Population 18,385 · Updated March 2026

$1,235
Median Rent / Month
$105,833
Median Income
$367,700
Median Home Value
$1,512
Owner Costs / Month

Affordability

How far your income goes in Oconomowoc

14.0%
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

$14,820
Annual Rent
$8,096
State Income Tax
$5,920
Property Tax (est.)

Cost of Living Overview

Oconomowoc has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 102 (where 100 equals the national median), Oconomowoc residents can expect to pay median rent of $1,235/month while earning a median household income of $105,833/year.

The median home value in Oconomowoc, WI is $367,700, with typical monthly owner costs around $1,512 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.0% 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 Oconomowoc.

Frequently Asked Questions

Common questions about living costs in Oconomowoc

What is the cost of living in Oconomowoc, WI?
The cost of living index in Oconomowoc, WI is 102 (US average = 100). Median monthly rent is $1,235, median household income is $105,833/year, and the median home value is $367,700.
Is Oconomowoc, WI affordable?
No, Oconomowoc is more expensive than the national average with a cost index of 102. The rent-to-income ratio is 14.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Oconomowoc, WI?
The median gross rent in Oconomowoc, WI is $1,235 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,820.
What is the median household income in Oconomowoc?
The median household income in Oconomowoc, WI is $105,833 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%.