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City · 9,356 residents · Lincoln County, Wisconsin

Merrill , Wisconsin

In Merrill, a typical home is worth $123,800 and typical rent is $771 a month. Compared with all of Lincoln County, the typical home value is 36% lower, typical household income is 22% lower, and the share of households that own their home is 18 points lower.

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  • Typical home value

    $123,800

    36% below the county

    54% below Wisconsin

    • Merrill
    • Lincoln
    • Wisconsin

  • Typical rent

    $771a month

    2% above the county

    29% below Wisconsin

    • Merrill
    • Lincoln
    • Wisconsin

  • Typical household income

    $53,148a year

    22% below the county

    31% below Wisconsin

    • Merrill
    • Lincoln
    • Wisconsin

  • Households that own their home

    61%

    18 points below the county

    7 points below Wisconsin

    • Merrill
    • Lincoln
    • Wisconsin

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$226,625
8.3% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Merrill is in Lincoln County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Lincoln County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Merrill apart

What this place has that others do not, from public data, most unusual first.

  1. Merrill has the largest share of rent-burdened renters of the 141 cities in Wisconsin with more than 5,000 people: 59%.

  2. Merrill has the 3rd lowest typical home value of the 156 cities in Wisconsin with more than 5,000 people ($123,800).

  3. Merrill has the 4th lowest typical rent of the 154 cities in Wisconsin with more than 5,000 people ($771).

  4. 61% of households in Merrill own their home, against 80% in Lincoln County.

  5. Merrill has the 8th lowest typical household income of the 156 cities in Wisconsin with more than 5,000 people ($53,148).

  6. According to Zillow, in the 12 months to September 2026 the typical home value in Merrill rose 8.3%; in Wisconsin, it rose 5.1%.

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Merrill

What homes there are in Merrill, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Merrill, 7 in 10 homes are single-family detached houses; in Lincoln County, 8.

Year built

Homes in Merrill are older: the typical year built is 1955; in Lincoln County, 1975.

There are fewer big homes in Merrill than in Lincoln County: 55% have 3 bedrooms or more, against 59%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

By rent, most homes in Merrill cost less than HUD's 2-bedroom fair market rent ($1,014): about 72%.

With a mortgage

$1,095 a month

Lincoln County: $1,361 a month

Without a mortgage

$475 a month

Lincoln County: $519 a month

Owners with a mortgage

56%

Lincoln County: 55%

Owning costs less in Merrill: with a mortgage, the typical cost is $1,095 a month; in Lincoln County, $1,361. Without one, $475.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Merrill gained value faster than in Lincoln County: 45% against 38%.

Rents in Merrill rose faster than in Lincoln County: 21% since 2015–2019, against 14%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMerrillLincoln CountyWisconsinUnited States
Rental vacancy Unreliable estimateUnreliable estimate4.5%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.5%0.9%
More than one person per room Unreliable estimate1.2%1.7%3.4%
People per household 2.082.182.332.53
Drive alone 76%79%74%69%
Carpool 9%6%7%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate2%3%3%
Work from home 11%12%13%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute 10 to 19 minutesUnreliable estimate10 to 19 minutes20 to 29 minutes

A household in Merrill has 2.08 people on average, about the same as in Lincoln County (2.18).

To get to work, 76% of workers in Merrill drive alone; in Lincoln County, 79%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Merrill?

A typical home is within reach of the typical income

We start with a typical home in Merrill, worth $123,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 26% of the typical household income in Merrill, which is $53,148 a year.

The calculator's FHA and conventional loan limits are those of all of Lincoln County.

Your numbers

Local data
$

Starts at the typical home value in Merrill. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $4,333 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,131

at 7.18% · 30 years

Loan amount
$121,558
Total interest
$174,893
Paid off in
November 2056

Includes $2,091 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,240 a month

    Your payment · 26%

  • Tight

    $1,240 to $1,594 a month

  • Hard

    more than $1,594 a month

Compared with the typical household income in Merrill ($53,148 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,131
Principal & interest$823
Property tax$201
Home insurance$52
FHA mortgage insurance (MIP)$55

You need at least $4,333 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Merrill and Lincoln County

Merrill is in Lincoln County, Wisconsin. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Merrill's own numbers

Typical home value
$123,800
Typical monthly rent
$771
Typical yearly household income
$53,148
Households that own their home
61%
Effective property tax rate
1.95%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Lincoln County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,014
Price change over 5 years (FHFA)
+67%
Homes in a high flood-risk zone
0.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Lincoln County.

Everything about Lincoln County

Buying

Buying a home in Merrill

A typical home in Merrill is worth $123,800: 36% below the county and 54% below Wisconsin. With the typical household income in Merrill ($53,148 a year), a typical home costs 2.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Merrill 2.3 years
  • Lincoln 2.8 years
  • Wisconsin 3.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Lincoln County

According to FHFA’s house price index, home prices in Lincoln County rose 96% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Lincoln County.

Period County Wisconsin U.S.
Last year (2025) +6.7% +5.4% +2.9%
5 years (2020–2025) +67% +57% +47%
10 years (2015–2025) +96% +96% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Merrill next to Lincoln County, Wisconsin and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Merrill $123,800
  • Lincoln $192,700
  • Wisconsin $266,500
  • United States $332,700
Typical monthly rent
  • Merrill $771
  • Lincoln $755
  • Wisconsin $1,087
  • United States $1,413
Typical yearly household income
  • Merrill $53,148
  • Lincoln $68,164
  • Wisconsin $77,485
  • United States $80,734
See the full table
Merrill next to Lincoln County and Wisconsin
Measure Merrill Lincoln County Wisconsin U.S.
Typical home value $123,800 $192,700 $266,500 $332,700
Typical monthly rent $771 $755 $1,087 $1,413
Typical yearly household income $53,148 $68,164 $77,485 $80,734
Households that own their home 61% 80% 68% 65%
Typical yearly property tax $2,415 $2,549 $3,792 $3,119
Effective property tax rate 1.95% 1.32% 1.42% 0.94%
Renters with high rent for their income 59% 52% 44% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Lincoln County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Merrill

For a typical $123,800 home in Merrill, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Merrill's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,131a month

    Least cash to close
    Down payment
    $4,333
    Cash to close
    $8,047
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $55

  • Conventional, 5% down $1,108a month

    Down payment
    $6,190
    Cash to close
    $9,904
    Rate
    7.18%
    Mortgage insurance
    PMI · $59

  • Conventional, 20% down, no PMI $924a month

    Down payment
    $24,760
    Cash to close
    $28,474
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,038a month

    Down payment
    $18,570
    Cash to close
    $22,284
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Merrill and for Lincoln County.

Property tax

Effective rate in Merrill

1.95%of the home’s value each year

$2,415 a year for the typical owner in Merrill.

  • Merrill 1.95%
  • Lincoln 1.32%
  • Wisconsin 1.42%

What Wisconsin publishes Lottery and Gaming Credit for your primary residence (Wisconsin Department of Revenue)

Exemptions and deadlines in Wisconsin

Flood risk in Lincoln County

FEMA does not publish these numbers by city: they are for all of Lincoln County.

Homes in the high-risk zone
0.8%
102
Of those, with NFIP insurance
6.9%
County Wisconsin U.S.
Homes in the high-risk zone 0.8% 1.4% 3.5%
Of those, with NFIP insurance 6.9% 19% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Merrill

Typical rent in Merrill is $771 a month: 2% above the county. In Merrill, 59% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Lincoln County, by unit size. To pay the 2-bedroom one ($1,014 a month) without spending more than 30% of your income, you would need to earn $19.50 an hour working full time.

HUD fair market rent for all of Lincoln County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $763 $14.67 $30,520
1 bedroom $775 $14.90 $31,000
2 bedrooms $1,014 $19.50 $40,560
3 bedrooms $1,304 $25.08 $52,160
4 bedrooms $1,403 $26.98 $56,120

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Merrill

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Merrill is in ZIP code 54452.

For 2 bedrooms it is $1,040: $26 more than the fair market rent for Lincoln County ($1,014).

  • 54452 $1,040$1,360

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Merrill when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Merrill

HUD lists 4 buildings with rents for lower incomes in Merrill. These are the largest.

  • Jenny Towers 703/705 Woodbine ST, Merrill 54452 110 low-income homes · For older adults (715) 536-3838
  • Park Place/Westgate LLC 1705 Water St, Merrill 54452 102 low-income homes · For families
  • Park City Apts 713 Martin St, Merrill 54452 32 low-income homes · 1 bd: 8 · 2 bd: 14 · 3 bd: 10 · In service since 1996
  • Lincoln Heights 603 Francis Dr, Merrill 54452 30 low-income homes · For families (715) 536-5589

See all 9 buildings in Lincoln County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Merrill

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Lincoln County. The nearest ones are below; many serve by phone or online.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Merrill

No down payment, repair or rent-help program on our list is for Merrill or Lincoln County. The ones below are statewide in Wisconsin: they work in Merrill the same as in the rest of the state.

Which programs do I qualify for? All programs in Wisconsin

  • WHEDA Easy Close Advantage DPA

    Statewide in Wisconsin

    Wisconsin state agency second mortgage for the down payment: up to 6% of the price, over 10 years with a monthly payment and the same rate as the WHEDA first mortgage. Offered by Wisconsin Housing and Economic Development Authority (WHEDA).

    Repayable

    See the program Official page

  • WHEDA Capital Access DPA

    Statewide in Wisconsin

    Limited funds remain, per the source

    $7,500 loan from the Wisconsin state agency for the down payment and closing costs, over 30 years, at 0% and with no monthly payments, alongside a WHEDA mortgage; limited funds, first come, first served. Offered by Wisconsin Housing and Economic Development Authority (WHEDA).

    Deferred

    See the program Official page

Housing counselors near Merrill

The HUD-approved agencies closest to the center of Merrill, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Wisconsin Native Loan Fund

    14284 State Highway 70 W, Lac Du Flambeau · 52 miles away

    • Workshops for new owners
    • Pre-purchase counseling
    • and 1 more
    (715) 588-1600

  • First Nations Community Financial

    206 S Roosevelt Rd Ste 123, Black River Falls · 83 miles away

    • Budget and financial counseling
    • Workshops for new owners
    • and 3 more
    (715) 284-2470

  • Western Dairyland Economic Opportunity Council Inc

    1 Better Way, Eau Claire · 92 miles away · Spanish

    Also serves in American Sign Language (ASL) and Hmong.

    • Mortgage delinquency and default
    • Homelessness services
    • and 2 more
    (715) 836-7511

All counseling agencies in Wisconsin

Help in Spanish near Merrill

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Merrill

HUD’s record names them for Merrill or Lincoln County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

All housing agencies in Wisconsin Source: HUD

Cities

Nearby cities

The cities closest to Merrill, with the typical home value.

Everything about Lincoln County Housing in Wisconsin

Neighboring counties

If Lincoln County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Merrill.

All guides
A smiling girl holds up a small mushroom she found on a forest outing.

Questions

Housing questions about Merrill

Short answers with the numbers for Merrill and all of Lincoln County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Merrill?

The typical home value in Merrill is $123,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Lincoln County it is $192,700.

How much does it cost to rent in Merrill?

Typical rent in Merrill is $771 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Lincoln County is $1,014.

What is the FHA loan limit in Merrill?

Merrill uses the FHA limit for all of Lincoln County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Merrill?

The typical homeowner in Merrill pays $2,415 a year, according to the U.S. Census Bureau. That is 1.95% of the home’s value; in Lincoln County, the rate is 1.32%.

Where can I find free help to buy or rent in Merrill?

We found no HUD-approved counseling agencies with an office in Lincoln County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).