Merrill, WI—54452
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Merrill, WI
As of Oct '25, the median home price in Merrill, WI is $211,000, with a year-over-year change of 2.9%. This indicates that home prices in Merrill, WI are increasing. According to Zillow, the 1-year price projection is 3.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $211,000 | 2.9% |
| Single Family | $210,000 | 2.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Merrill, WI
As of July '25, Rentcast reports the average rent in Merrill, WI is $834, with a year-over-year rent change of 2.6%. Per bedroom, the median rent as of July '25 in Merrill, WI is 1-bedrooms: $698, 2-bedrooms: $835, 3-bedrooms: $975, 4-bedrooms: $1,500. The most common rental property sizes in Merrill, WI are 2-bedroom and 1-bedroom, accounting for 38.0% and 35.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $834 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $698 |
| 2 Bed Rent | $745 | $835 |
| 3 Bed Rent | $850 | $975 |
| 4 Bed Rent | $1,500 | $1,500 |
% of Rental Stock
Property Listings — Merrill, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Merrill, WI is 62. This is a increase of 21.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $214,000 | -22.0% |
Listing Count | 52 | 21.0% |
| Listings as % of Homes | 0.3% | 21.0% |
Days on Market | 62 | 21.0% |
Demographics — Merrill, WI
As of the latest ACS Survey released in 2023, Merrill, WI has a population of 18,900, which has increased by 2.4% over the past 5 years. Merrill, WI is a moderately popular place for families, as children make up 18.2% of the population. The area has a poorly educated workforce, with 19.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,900 | 2.4% |
% Under 18 | 18.2% | -8.1% |
% Seniors | 21.3% | 12.1% |
% WFH | 12.6% | 231.6% |
% w/ College Degree | 19.3% | 8.4% |
As of the latest ACS Survey released in 2023, Merrill, WI is a predominantly white area, with 93.4% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Merrill, WI is hispanic, making up 2.3% of the population. Foreign-born residents account for 2.1% of the population in Merrill, WI, and this percentage has increased by 110.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.4% | -3.2% |
% Black | 0.3% | -25.0% |
% Hispanic | 2.3% | 91.7% |
% Asian | 0.8% | 100.0% |
% Foreign Born | 2.1% | 110.0% |
Mortgage and Risk — Merrill, WI
According to HUD data as of 2023, there were 438 mortgage originations in Merrill, WI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Merrill, WI. Investor activity is low, as 4.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 438 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 4.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Merrill, WI
As of 2024, the percent of homes in Merrill, WI under the Section 8 program is 14.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Merrill, WI, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 284 |
Total Units Section 8 | 283 |
% Rentals under Section 8 | 14.3% |
% Occupied Section 8 | 82.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $750 | $720 |
| 2 Bedroom | $185 | $745 | $930 |
| 3 Bedroom | $450 | $850 | $1,300 |
| 4 Bedroom | -$120 | $1,500 | $1,380 |
Affordability — Merrill, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $211,000 |
| Median Household Income | $65,500 |