Homes in Lincoln County, Wisconsin are still much lower than the state average. Recent local numbers show that typical prices are in the mid-$200,000 range. There is a wide difference depending on the town, the age of the house and whether the house is near a lake. Merrill is usually the more affordable option for people who want to live here year-round. Tomahawk has a mix of cabins, lake homes and expensive houses, which makes its average prices go up.
The numbers below are from August and September 2026. The county is small so the number of homes sold each month is low. The numbers can change a lot. Think of each number as a rough guide, not a guarantee.
What homes cost in Lincoln County right now
Zillow says the typical home in the county is worth around $248,000. That’s a 6% increase compared to a year earlier according to a local news report from late August 2026. This number is a Zillow estimate. It’s not the price that homes sold for. For comparison the median sale price across the state of Wisconsin was between $340,000 and $360,000 in mid-2026. The difference in numbers comes from whether you use state transfer records or Redfin data.
At the time of writing Zillow’s county page listed 142 homes for sale. Prices varied a lot. You could find a three-bedroom home in Merrill for around $100,000. Homes near Tomahawk with lake views and large acreage pushed prices much higher.
Here’s how the two main markets compare.
| Merrill | Tomahawk | |
|---|---|---|
| Median sale price (Aug 2026, Redfin) | About $215,000 (3-month median) | About $287,000 |
| Year-over-year change | Up about 26% | Up about 31% |
| Typical pace | About 46 days on market | Roughly 45–63 days, depending on source |
| Sale-to-list price | About 101.8% | About 96.5% (Realty.com) |
| Median list price | Not verified | Roughly $450,000 to $465,000 |
Those percentage increases look big, but small sample sizes can make them look bigger than they are. According to one data source, Merrill had 39 sales in August and Tomahawk had 17. A single expensive sale can move the median by tens of thousands of dollars. For example, Redfin’s Tomahawk page showed a 69% drop for one month in late 2025 based on just four sales. One month of data does not show a trend.
What the data does show is a difference between the two markets. Merrill homes are selling at or just above the asking price, which means there is competition for homes that are priced well. Tomahawk homes are listed for higher prices on average and buyers there are paying a bit less than the asking price, so there may be more room to negotiate.
Towns and communities compared
Merrill is the largest community in the county. It is nicknamed the City of Parks and the Wisconsin River flows through it. Council Grounds State Park is located nearby. This is a good fit for anyone who wants a regular neighborhood, in‑town services and a lower price of entry. Starter homes appear here more often than anywhere else in the county and older houses that need updating are common. One property‑data site estimates that the average single‑family home in the county is 68 years old so budget for inspections and repairs.
Tomahawk is another city and a Northwoods recreation hub. Listings here can range from seventy thousand dollars for fixer-uppers to homes worth seven figures near the lake. That’s why the median list price of about $450,000 might not tell the whole story. There are homes currently listed between $600,000 and $750,000, and those listings raise the average. Homes within the city limits tend to be more affordable than properties on the water or with large acreage.
Irma, Gleason, and Tripoli are communities with a rural feel. Redfin’s nearby-ZIP data showed median listing prices of about $272,000 in the Irma ZIP (54442) and about $185,000 in the Tripoli ZIP (54564). These are listing prices, not sales, and small ZIP codes may have only a few homes on the market at any time. Expect more land and less town.
One search pitfall: Lake Tomahawk and Rhinelander are in neighboring Oneida County, not Lincoln County even though listing sites sometimes show them alongside Tomahawk. County lines affect property taxes and school districts so check the county on any listing before you fall in love with it.
Property taxes: expect estimates to disagree
Published estimates of Lincoln County’s property tax rate vary a lot. Different websites list it anywhere from under 1% to more than 1.4% of home value. That difference comes from methods and data sources, not from one single correct number. Wisconsin’s statewide median effective tax rate is around 1.4% according to estimates. So Lincoln County is likely at or below that average. You shouldn’t count on that as a rule.
Your actual tax bill depends on the municipality you live in, the school district and the assessed value of your property. Before you make an offer, ask the seller for the last two tax bills. Look up the parcel using the county and municipal records. Also keep in mind that Wisconsin reassesses property every year. The Department of Revenue says each year’s assessment counts as new, so a recent purchase price can affect assessments.
One credit worth knowing about is the Lottery and Gaming Credit. It lowers the property tax bill for a residence. The Wisconsin Department of Revenue says the home must be your primary residence as of January 1 of the tax year. This credit does not apply to vacation homes, rental properties or vacant land. If you’re buying a cabin don’t expect this credit to help you. Read the Wisconsin Department of Revenue’s Lottery and Gaming Credit guide for the full rules.
Who should look where
- First-time buyers on a budget: Start in Merrill. That’s where the cheapest in-town houses are, and homes sell quickly enough that you should be pre-approved before you start looking. If you’re hunting for a bargain, read our guide to buying a foreclosed home first.
- Buyers who want lake or Northwoods recreation: Focus on Tomahawk and the surrounding area, but budget for higher prices, and confirm whether the property is in Lincoln County.
- Buyers wanting acreage and quiet: Look at Irma, Gleason, Tripoli and rural townships and plan for wells, septic systems and longer drives to services.
- Cabin shoppers: Read our guide to buying a cabin for what to inspect on seasonal properties before you commit.
What to check before you buy
Wells and septic systems. Many rural and lake properties don’t have municipal water and sewer service. Make sure to get the well tested and the septic system inspected separately, not as part of the regular home inspection.
Winter access and heating. Ask how the driveway is cleared, who looks after the road and what heating source the home uses. Propane and wood heat can cost more and need more work than natural gas, so ask for a full year of utility bills.
Flood zones and shoreline rules. Homes near the Wisconsin River lakes and flowages may be in flood-zone or shoreland zoning areas. These rules can affect insurance costs, building permits for additions and the placement of docks. Check with your insurance agent and the local zoning office to understand the regulations that apply to your property.
Radon and older-home issues. Wisconsin recommends radon testing for homes, and it is especially important for older houses. Older houses can also have outdated wiring, worn insulation and aging foundations. Our house inspection checklist shows what inspectors look for.
Seasonal vs. year-round. Some cabins aren’t insulated for winter and may not have a heated water line. Check that carefully before you count on year-round use.
Common mistakes
- Using a median list price as a shopping budget. In Tomahawk, that figure is inflated by high-end lake homes.
- Comparing Zillow’s estimated values with Redfin’s sale prices as if they measure the same thing.
- Ignoring the county line on listings labeled Tomahawk.
- Assuming the primary-residence tax credit applies to a cabin.
- Skipping the well and septic inspection to save a few hundred dollars.
- Treating one month of data as proof the market is rising or falling.
Frequently asked questions
What is the average home price in Lincoln County, WI?
Zillow shows that the average home value in the county is $248,000 as of August 2026. The real prices change depending on the town. The price is $215,000 in Merrill and roughly $287,000 in Tomahawk according to Redfin’s numbers for August 2026.
Is Lincoln County, WI a buyer’s market or a seller’s market?
It depends on the town and the price range. In Merrill homes were selling at or above the asking price, which is good news for sellers. In Tomahawk homes were closing a bit below asking price in one dataset, which gives buyers room to negotiate.
Where is the cheapest place to buy in Lincoln County?
Merrill and small communities like Tripoli usually have the lowest-priced homes, with some listings near $100,000. Cheap homes can need repairs, so buyers should inspect carefully.
Are property taxes high in Lincoln County?
Estimates vary a lot. Some say under 1 percent. Others say more than 1.4 percent. It depends on where you look. Always ask for the tax bill when checking out a home. That way you know what you’re paying.
Is Tomahawk in Lincoln County?
Yes. Tomahawk is a city in Lincoln County. Lake Tomahawk and Rhinelander are both in Oneida County.
Do I need a home inspection for a rural property?
Yes. Add separate well and septic inspections. Also check road access, heating type and flood risk.
How fast do homes sell in Lincoln County?
Redfin showed that homes in Merrill were selling in about 46 days during August 2026. Tomahawk had a range of around 45 to 63 days depending on the source.
Can I use the Lottery and Gaming Credit on a cabin?
Generally no. The credit is for your primary residence as of January 1. Check with the treasurer for your situation.
Sources & references
- Zillow: Lincoln County WI Real Estate & Homes For Sale
- Redfin: Merrill, WI Housing Market
- Redfin: Tomahawk, WI Homes for Sale & Real Estate
- Realty.com: Homes for Sale in Tomahawk, WI
- Wisconsin Department of Revenue: Lottery and Gaming Credit
- Merrill, Lincoln County Home Values Continue to Rise (Bluejay 96.3, Aug. 2026)
Market figures change monthly and vary by data provider. Confirm current prices and taxes with a local agent and your county or municipal records before making an offer. This article is general information, not financial or legal advice.
Comparing regions? See our guide to Jackson County, MO homes for sale.