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City · 11,231 residents · Manitowoc County, Wisconsin

Two Rivers , Wisconsin

In Two Rivers, a typical home is worth $140,300 and typical rent is $780 a month. Compared with all of Manitowoc County, the typical home value is 25% lower and typical household income is 17% lower.

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  • Typical home value

    $140,300

    25% below the county

    47% below Wisconsin

    • Two Rivers
    • Manitowoc
    • Wisconsin

  • Typical rent

    $780a month

    2% below the county

    28% below Wisconsin

    • Two Rivers
    • Manitowoc
    • Wisconsin

  • Typical household income

    $57,222a year

    17% below the county

    26% below Wisconsin

    • Two Rivers
    • Manitowoc
    • Wisconsin

  • Households that own their home

    73%

    4 points below the county

    5 points above Wisconsin

    • Two Rivers
    • Manitowoc
    • Wisconsin

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

Market now, with Zillow data

Zillow data
Typical home value
$227,834
4.1% more than 12 months ago
Typical rent
$975 a month

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

Two Rivers is in Manitowoc 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 Manitowoc County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Two Rivers apart

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

  1. Two Rivers has the 6th lowest typical home value of the 156 cities in Wisconsin with more than 5,000 people ($140,300).

  2. Two Rivers has the 6th lowest typical rent of the 154 cities in Wisconsin with more than 5,000 people ($780).

  3. The typical household income in Two Rivers is $57,222, 17% less than in Manitowoc County as a whole ($69,148).

  4. Two Rivers has the 11th smallest share of rent-burdened renters of the 141 cities in Wisconsin with more than 5,000 people (32%).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Two Rivers

What homes there are in Two Rivers, 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

The detached house is the most common home in Two Rivers: 76% of homes, near the figure in Manitowoc County (74%).

Year built

Homes in Two Rivers are older: the typical year built is 1958; in Manitowoc County, 1964.

By size, homes in Two Rivers look like those in Manitowoc County: 64% have 3 bedrooms or more.

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

The FHA limit for Manitowoc County is high ($541,287): at least 100% of owner-occupied homes in Two Rivers are worth less than $500,000.

Monthly rent with utilities

With a mortgage

$1,118 a month

Manitowoc County: $1,266 a month

Without a mortgage

$502 a month

Manitowoc County: $530 a month

Owners with a mortgage

46%

Manitowoc County: 54%

In Two Rivers, 46% of owners have a mortgage, and their typical cost is $1,118 a month, against $1,266 in Manitowoc County. Without one it drops to $502.

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

From 2015–2019 to 2020–2024, the typical home value in Two Rivers rose 49%; in Manitowoc County, it rose 44%.

Much as in Manitowoc County, the typical rent in Two Rivers rose 16% since 2015–2019.

While home values in Two Rivers changed +49% and rent +16%, the typical household income rose 21%.

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

MeasureTwo RiversManitowoc CountyWisconsinUnited States
Rental vacancy Unreliable estimate6.1%4.5%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.5%0.9%
More than one person per room Unreliable estimate1.5%1.7%3.4%
People per household 2.212.282.332.53
Drive alone 82%81%74%69%
Carpool 9%7%7%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate3%3%3%
Work from home 5%8%13%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes10 to 19 minutes20 to 29 minutes

A household in Two Rivers has 2.21 people on average, about the same as in Manitowoc County (2.28).

In Two Rivers, 82% of workers drive alone to work; in Manitowoc County, 81%.

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 Two Rivers?

A typical home is within reach of the typical income

We start with a typical home in Two Rivers, worth $140,300, 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 Two Rivers, which is $57,222 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Two Rivers. 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 $4,911 (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

$1,244

at 7.18% · 30 years

Loan amount
$137,758
Total interest
$198,202
Paid off in
November 2056

Includes $2,369 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,335 a month

    Your payment · 26%

  • Tight

    $1,335 to $1,717 a month

  • Hard

    more than $1,717 a month

Compared with the typical household income in Two Rivers ($57,222 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,244
Principal & interest$933
Property tax$191
Home insurance$59
FHA mortgage insurance (MIP)$62

You need at least $4,911 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

Two Rivers and Manitowoc County

Two Rivers is in Manitowoc 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).

Two Rivers's own numbers

Typical home value
$140,300
Typical monthly rent
$780
Typical yearly household income
$57,222
Households that own their home
73%
Effective property tax rate
1.63%

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

Numbers for all of Manitowoc 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)
+74%
Homes in a high flood-risk zone
0.5%

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 Manitowoc County.

Everything about Manitowoc County

Buying

Buying a home in Two Rivers

A typical home in Two Rivers is worth $140,300: 25% below the county and 47% below Wisconsin. With the typical household income in Two Rivers ($57,222 a year), a typical home costs 2.5 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.

  • Two Rivers 2.5 years
  • Manitowoc 2.7 years
  • Wisconsin 3.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Manitowoc County

According to FHFA’s house price index, home prices in Manitowoc County rose 110% in the 10 years through 2025.

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

Period County Wisconsin U.S.
Last year (2025) +5.4% +5.4% +2.9%
5 years (2020–2025) +74% +57% +47%
10 years (2015–2025) +110% +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

Two Rivers next to Manitowoc 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
  • Two Rivers $140,300
  • Manitowoc $186,900
  • Wisconsin $266,500
  • United States $332,700
Typical monthly rent
  • Two Rivers $780
  • Manitowoc $797
  • Wisconsin $1,087
  • United States $1,413
Typical yearly household income
  • Two Rivers $57,222
  • Manitowoc $69,148
  • Wisconsin $77,485
  • United States $80,734
See the full table
Two Rivers next to Manitowoc County and Wisconsin
Measure Two Rivers Manitowoc County Wisconsin U.S.
Typical home value $140,300 $186,900 $266,500 $332,700
Typical monthly rent $780 $797 $1,087 $1,413
Typical yearly household income $57,222 $69,148 $77,485 $80,734
Households that own their home 73% 77% 68% 65%
Typical yearly property tax $2,285 $2,695 $3,792 $3,119
Effective property tax rate 1.63% 1.44% 1.42% 0.94%
Renters with high rent for their income 32% 31% 44% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Manitowoc 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 Two Rivers

For a typical $140,300 home in Two Rivers, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Two Rivers's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,244a month

    Least cash to close
    Down payment
    $4,911
    Cash to close
    $9,120
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $62

  • Conventional, 5% down $1,219a month

    Down payment
    $7,015
    Cash to close
    $11,224
    Rate
    7.18%
    Mortgage insurance
    PMI · $67

  • Conventional, 20% down, no PMI $1,009a month

    Down payment
    $28,060
    Cash to close
    $32,269
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,139a month

    Down payment
    $21,045
    Cash to close
    $25,254
    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 Two Rivers and for Manitowoc County.

Property tax

Effective rate in Two Rivers

1.63%of the home’s value each year

$2,285 a year for the typical owner in Two Rivers.

  • Two Rivers 1.63%
  • Manitowoc 1.44%
  • 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 Manitowoc County

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

Homes in the high-risk zone
0.5%
162
Of those, with NFIP insurance
22%
County Wisconsin U.S.
Homes in the high-risk zone 0.5% 1.4% 3.5%
Of those, with NFIP insurance 22% 19% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Two Rivers

Typical rent in Two Rivers is $780 a month: 2% below the county. In Two Rivers, 32% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Manitowoc 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 Manitowoc 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 $770 $14.81 $30,800
1 bedroom $775 $14.90 $31,000
2 bedrooms $1,014 $19.50 $40,560
3 bedrooms $1,208 $23.23 $48,320
4 bedrooms $1,333 $25.63 $53,320

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 Two Rivers

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Two Rivers is in ZIP code 54241.

For 2 bedrooms it is $1,050: $36 more than the fair market rent for Manitowoc County ($1,014).

  • 54241 $1,050$1,400

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Two Rivers 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 Two Rivers

HUD lists 6 buildings with rents for lower incomes in Two Rivers. These are the largest.

  • Village Green East 2401 Polk St, Two Rivers 54241 57 homes, 56 low-income · For older adults (920) 684-0275
  • Mueller Manor 3215 Mishicot Rd, Two Rivers 54241 50 low-income homes · For older adults (920) 793-2105
  • Village Green West 2602 Forest Ave, Two Rivers 54241 48 low-income homes · For older adults (920) 684-0275
  • Edgewater Terrace 2812 7th St, Two Rivers 54241 40 low-income homes · 2 bd: 36 · 3 bd: 4 · In service since 2015 · For families (414) 267-3100
  • Lakeshore Park Apts 1100 Adams St, Two Rivers 54241 32 low-income homes · 1 bd: 6 · 2 bd: 20 · 3 bd: 6 · In service since 1995

See all 26 buildings in Manitowoc County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Two Rivers

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 Manitowoc County. The nearest ones are below; many serve by phone or online.

A man smiles on a bench outside his apartment building.

HUD counseling is free or low-cost

Assistance programs in Two Rivers

No down payment, repair or rent-help program on our list is for Two Rivers or Manitowoc County. The ones below are statewide in Wisconsin: they work in Two Rivers 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 Two Rivers

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

  • CCCS of Sheboygan

    1930 N 8th St, Sheboygan · 28 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (920) 458-3784

  • Catholic Charities Diocese of Green Bay

    1825 Riverside Dr, Green Bay · 32 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (920) 272-8234

  • Neighborworks Green Bay

    437 S Jackson St, Green Bay · 32 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (920) 448-3075

All counseling agencies in Wisconsin

Help in Spanish near Two Rivers

2 of the 3 agencies on this list say they serve 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 Two Rivers

In HUD’s record, no housing authority with an office in Manitowoc County is named for Two Rivers or Manitowoc County.

2 other authorities have an office in Manitowoc County: see the list Source: HUD

Cities

Other cities in Manitowoc County

These cities are also in Manitowoc County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Manitowoc County Housing in Wisconsin

Nearby cities

The cities closest to Two Rivers, with the typical home value.

Neighboring counties

If Manitowoc 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 Two Rivers.

All guides
A mother holds her laughing daughter on a grey sofa.

Questions

Housing questions about Two Rivers

Short answers with the numbers for Two Rivers and all of Manitowoc 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 Two Rivers?

The typical home value in Two Rivers is $140,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Manitowoc County it is $186,900.

How much does it cost to rent in Two Rivers?

Typical rent in Two Rivers is $780 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Manitowoc County is $1,014.

What is the FHA loan limit in Two Rivers?

Two Rivers uses the FHA limit for all of Manitowoc 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 Two Rivers?

The typical homeowner in Two Rivers pays $2,285 a year, according to the U.S. Census Bureau. That is 1.63% of the home’s value; in Manitowoc County, the rate is 1.44%.

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

We found no HUD-approved counseling agencies with an office in Manitowoc 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).