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Rural Village of Eagle River City,
Wisconsin Beckons to Outdoor Enthusiasts and Those Seeking a Lower
Cost-of-Living
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Cost of Living: Below the National Average |
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| Eagle River
City, Wisconsin is a small community (1,600 people) that
draws those who enjoy cool summers, cold winters, fresh
air, sparkling lakes and plenty of opportunities to
enjoy the great outdoors. Located on the
Eagle River in the northern portion of the state, this
is Northwoods country, where the stresses of city life
are left far behind and wildlife is more plentiful than
people. More retirees are discovering this
peaceful destination (47% of the population is age 45 and upwards), choosing to live in town, along the River,
in the woods or along the Eagle River Chain of Lakes, a
string of 28 navigable, freshwater lakes that dot the
surrounding area.
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Condominiums and single-family homes can be found
in town, and lots, old vacation homes and single-family homes are
available throughout the surrounding countryside. Real
estate prices have increased during the last five years, but in
many cases, property is still reasonably-priced. In
town, there are several new condominium complexes, and very nice,
1,400 square foot, maintenance-free units on the water can be
found for $140,000 to $300,000. Single-family homes on the
water tend to start in the high $300,000s. Cute,
single-family homes (2,000 square feet) in town but not on the
River start at $69,000 and top out at about $299,000 (4 bedrooms,
2.5 baths). Eagle Estates is a new, planned community with
homes from $120,000 and an 18 hole golf course. |
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While some retirees choose to live in town, the
real draw of this area is the dense, wooded land surrounding it,
where lakes seem to appear around every corner.
Waterfront lots along any one of the 28 lakes start at $19,000 for
roughly 2 acres. These may be in a planned residential area
or simply be land being re-sold. Prices can go considerably
higher. 1,100 square foot, single-family homes with lake
views start at around $169,000, and those directly on a lake or
with direct access (and needing a little fixing up) start at about
$189,000 and go up to $2 million for lakeside estates. Many
lovely, lakeside homes, though, can be found in the $350,000
range. The town provides water and sewage, although some
homes have septic tanks and private wells. This
area has at least four manufactured home communities, including
Birchwood Estates, Northwood Homes and Northland Mobile Homes (for
those 55+), and homes needing a little TLC start at about $15,000
for 2 bedrooms and 1 bath.
At this writing,
we were unable to find any apartments for rent. Property
tax is charged at $17.11 per $1,000 of assessed value, and
property is assessed at 107% of market value. There is a
homestead credit of $1,160 for those with annual incomes less than
$24,500. Taxes are higher than in other states, but the
overall cost-of-living averages 15% less than the national
average. Homes throughout the area have been
appreciating at about 9% per year for the last few
years. Eagle
River City, Wisconsin, Continued....
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