The story of this market
The typical home in ZIP 54545 sells for about $1,379,000, or $457 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,135 a month.
ZIP 54545 — Manitowish Waters
The Manitowish Waters housing market remains characterized by high-end, low-volume luxury sales, with a median listing price significantly above regional averages. Demand is driven by the area's status as a premier recreational destination, though high inventory costs and seasonal fluctuations keep the market stable rather than explosive.
This ZIP is ideal for affluent second-home buyers, retirees, and outdoor enthusiasts seeking lakefront living, rather than traditional commuters or entry-level buyers.
Median prices moved up 2.1% year over year.
Homes spend a median of 87 days on market with 6.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.1% · poverty 6.4% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 12.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 9.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 54545, Vilas County WI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Manitowish Waters are significantly lower than the national average, with the area characterized by a very safe, rural environment.
Schools serving the area are part of the North Lakeland Elementary and Lakeland Union High School districts, which generally maintain high performance ratings within the state.
The area faces moderate risks related to wildfire in forested regions and seasonal flooding near the extensive chain of lakes, with insurance premiums reflecting these environmental factors.
Economic momentum is driven primarily by seasonal tourism and outdoor recreation, with limited large-scale industrial development or corporate infrastructure.
Property taxes are assessed at the municipal and county level in Vilas County, with rates determined by local school district and town levies; no state-level property tax exists.
Commuting is primarily by personal vehicle, with most residents traveling to nearby hubs like Minocqua or Eagle River for employment and services.
The area is a premier destination for water sports, fishing, and boating on the Manitowish Waters Chain of Lakes, complemented by extensive snowmobile and hiking trail networks.
The rental market is heavily influenced by seasonal and short-term vacation rentals, leading to limited long-term housing availability for year-round residents.
The local economy is heavily reliant on the tourism, hospitality, and outdoor recreation sectors, with small businesses serving the seasonal population.
Public transit is non-existent; the area relies entirely on highway access via County Road W and US Highway 51.
Development is strictly managed by local zoning to preserve the rural and natural character of the lakefront environment.
Vilas County utilizes a market-value assessment system with annual adjustments based on sales data.
Parcels are subject to local school district taxes and town-specific levies for emergency services and road maintenance.
Property insurance costs are elevated due to the high concentration of wood-frame structures and wildfire risk in the Northwoods.
Data retrieved from US Census Bureau ZCTA 54545 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Lake of the Torches Resort Casino412.4 mi
- Norwood Pines Supper Club4.519.6 mi
- The Pines Restaurant and Beer Garden4.79.7 mi
- Lake of the Torches Resort Casino412.4 mi
- WinMan Trails4.92.6 mi
- River’s Edge Adventure Company4.93.6 mi
- B & B Adventures of Mercer4.910.5 mi
- WinMan Trails4.92.6 mi
- North Lakeland Discovery Center4.81.4 mi
- Greer's Pier Marina Inc.4.73 mi
- Boulder Marine Center4.710.7 mi
- Trout Lake Golf & Country Club4.311.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A famous 10-lake chain offering premier boating and fishing.
Provides nature programs and hiking trails for the community.
A major paved bike trail system connecting the region.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.