Market Overview
Home Prices in Lake Tomahawk, WI
The median home value in Lake Tomahawk, WI is $352,599 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.7% compared to a year ago and up 5.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Tomahawk are priced14% below average.
Over the past five years, Lake Tomahawk home values have risen by approximately26.8%, reflecting strong long-term appreciation in this market.
Price History
Lake Tomahawk Home Price Trend
2020
$242,275
$242K
—
2021
$278,117
$278K
+14.8%
2022
$303,200
$303K
+9.0%
2023
$310,719
$311K
+2.5%
2024
$314,895
$315K
+1.3%
2025
$333,430
$333K
+5.9%
2026
$352,599
$353K
+5.7%
City Comparison
Lake Tomahawk vs. National Median
🏠 Lake Tomahawk
$352,599
National Median
$410,000
At $352,599, homes in Lake Tomahawk cost 14% below the national median of $410,000. This makes Lake Tomahawk a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lake Tomahawk?
20% Down Payment
$70,520
on $352,599
Monthly P&I
$1,839/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,336/mo
incl. taxes & insurance
Income Needed
$93,440
gross annual (30% rule)
10% Down Option
$35,260
+ PMI applies
Loan Amount (20% dn)
$282,079
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 Lake Tomahawk, WI?
The median home value in Lake Tomahawk is $352,599 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.7% year-over-year.
How much have home prices changed in Lake Tomahawk?
Over the past year, home values in Lake Tomahawk have increased by 5.7%. Over five years, prices have risen approximately 26.8%.
How much do I need to earn to buy a home in Lake Tomahawk?
To comfortably afford the median home price of $352,599 with a 20% down payment ($70,520) at today's rates (6.8%), you'd need a gross annual income of approximately $93,440. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Tomahawk compare to the national average home price?
The national median home value is approximately $410,000. At $352,599, homes in Lake Tomahawk are 14% below the national average.