Market Overview
Home Prices in Pelican Lake, WI
The median home value in Pelican Lake, WI is $357,097 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% compared to a year ago and down 0.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Pelican Lake are priced13% below average.
Over the past five years, Pelican Lake home values have risen by approximately19.4%, reflecting steady appreciation in this market.
Price History
Pelican Lake Home Price Trend
2020
$258,644
$259K
—
2021
$299,175
$299K
+15.7%
2022
$327,893
$328K
+9.6%
2023
$342,055
$342K
+4.3%
2024
$345,718
$346K
+1.1%
2025
$343,802
$344K
-0.6%
2026
$357,097
$357K
+3.9%
City Comparison
Pelican Lake vs. National Median
🏠 Pelican Lake
$357,097
National Median
$410,000
At $357,097, homes in Pelican Lake cost 13% below the national median of $410,000. This makes Pelican Lake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Pelican Lake?
20% Down Payment
$71,419
on $357,097
Monthly P&I
$1,862/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,365/mo
incl. taxes & insurance
Income Needed
$94,600
gross annual (30% rule)
10% Down Option
$35,710
+ PMI applies
Loan Amount (20% dn)
$285,678
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 Pelican Lake, WI?
The median home value in Pelican Lake is $357,097 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Pelican Lake?
Over the past year, home values in Pelican Lake have increased by 3.9%. Over five years, prices have risen approximately 19.4%.
How much do I need to earn to buy a home in Pelican Lake?
To comfortably afford the median home price of $357,097 with a 20% down payment ($71,419) at today's rates (6.8%), you'd need a gross annual income of approximately $94,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Pelican Lake compare to the national average home price?
The national median home value is approximately $410,000. At $357,097, homes in Pelican Lake are 13% below the national average.