Balsam Lake, WI
Population 819 · Wisconsin
About Balsam Lake, WI
Balsam Lake is a small community in Wisconsin with a population of 819 residents. The median household income is $48,468 per year, which is below the national average. The median age in Balsam Lake is 50.6 years.
Housing in Balsam Lake has a median home value of $188,600 and median monthly rent of $1,063. Of the 641 total housing units, the majority are owner-occupied, with 316 owner-occupied and 66 renter-occupied units.
The unemployment rate in Balsam Lake is 7.3% and the poverty rate is 15.7%. 20.1% of residents hold a bachelor's degree or higher. The average commute time is 24.6 minutes.
Cost of Living in Balsam Lake, WI
Compared to national averages, Balsam Lake has a median household income of $48,468 (36% below the national median of $75,149). Home values average $188,600, which is 23% below the national median. Monthly rent at $1,063 is 9% below the US average of $1,163. Within Wisconsin, Balsam Lake's income is 33% below the state average of $72,579, and home values are 8% below the state median of $205,802.
Why Live in Balsam Lake, WI?
Balsam Lake offers affordable housing with a median home value of $188,600, below the US average of $244,900, and rent that’s lower than the national average at $1,063/month, and short commute times averaging just 24.6 minutes.
Potential considerations include median household income ($48,468) that falls below the national average. However, Balsam Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Balsam Lake has a population of 819 with a median age of 50.6 years. Compare Balsam Lake with other cities to see how it stacks up, or explore all cities in Wisconsin.
Similar Cities Near Balsam Lake
Cities in Wisconsin with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dorchester | 818 | $54,750 | $142,000 | Compare |
| Chenequa | 817 | $250,001 | $1,486,100 | Compare |
| Lone Rock | 821 | $55,417 | $111,400 | Compare |
| Milltown | 817 | $37,500 | $114,200 | Compare |
| Reeseville | 826 | $65,938 | $157,700 | Compare |
| Pittsville | 829 | $59,773 | $117,300 | Compare |
| Auburndale | 807 | $80,407 | $217,700 | Compare |
| Lake Arrowhead | 832 | $83,125 | $305,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Wisconsin
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Balsam Lake
What is the population of Balsam Lake, WI?
The population of Balsam Lake, WI is 819 according to the latest Census data.
What is the median household income in Balsam Lake?
The median household income in Balsam Lake, WI is $48,468 per year.
What is the median home value in Balsam Lake?
The median home value in Balsam Lake, WI is $188,600.
What is the average rent in Balsam Lake?
The median monthly rent in Balsam Lake, WI is $1,063.
What is the unemployment rate in Balsam Lake?
The unemployment rate in Balsam Lake, WI is 7.3%.