Market Overview
Home Prices in Balsam Lake, WI
The median home value in Balsam Lake, WI is $429,011 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.1% compared to a year ago and up 0.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Balsam Lake are priced5% above average.
Over the past five years, Balsam Lake home values have risen by approximately24.0%, reflecting strong long-term appreciation in this market.
Price History
Balsam Lake Home Price Trend
2020
$285,395
$285K
—
2021
$345,971
$346K
+21.2%
2022
$388,046
$388K
+12.2%
2023
$391,761
$392K
+1.0%
2024
$410,850
$411K
+4.9%
2025
$412,021
$412K
+0.3%
2026
$429,011
$429K
+4.1%
City Comparison
Balsam Lake vs. National Median
🏠 Balsam Lake
$429,011
National Median
$410,000
At $429,011, homes in Balsam Lake cost 5% above the national median of $410,000. Buyers in Balsam Lake should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Balsam Lake?
20% Down Payment
$85,802
on $429,011
Monthly P&I
$2,237/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,841/mo
incl. taxes & insurance
Income Needed
$113,640
gross annual (30% rule)
10% Down Option
$42,901
+ PMI applies
Loan Amount (20% dn)
$343,209
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Balsam Lake, WI?
The median home value in Balsam Lake is $429,011 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.1% year-over-year.
How much have home prices changed in Balsam Lake?
Over the past year, home values in Balsam Lake have increased by 4.1%. Over five years, prices have risen approximately 24.0%.
How much do I need to earn to buy a home in Balsam Lake?
To comfortably afford the median home price of $429,011 with a 20% down payment ($85,802) at today's rates (6.8%), you'd need a gross annual income of approximately $113,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Balsam Lake compare to the national average home price?
The national median home value is approximately $410,000. At $429,011, homes in Balsam Lake are 5% above the national average.