Summit, WI
Population 4,997 · Wisconsin
About Summit, WI
Summit is a small town located in Wisconsin with a population of 4,997 residents according to the latest US Census Bureau American Community Survey data. The median household income is $124,750 per year, which is 66% above the national median of $75,149. The median age of 53.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Summit features a median home value of $510,200, which is 108% above the national median of $244,900. This places Summit in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,734, 49% above the national average of $1,163/month. Of the 2,299 total housing units, 91% are owner-occupied (1,819 units) and 9% are renter-occupied (184 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Summit shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Summit have an average one-way commute time of 27 minutes.
Education & Demographics
55.3% of Summit residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.5% White, 0.1% Hispanic or Latino, 0.6% Black or African American, and 0.0% Asian residents, with 3.8% of the population being foreign-born.
How Summit Ranks in Wisconsin
Cost of Living in Summit, WI
Compared to national averages, Summit has a median household income of $124,750 (66% above the national median of $75,149). Home values average $510,200, which is 108% above the national median. Monthly rent at $1,734 is 49% above the US average of $1,163. Within Wisconsin, Summit's income is 72% above the state average of $72,579, and home values are 148% above the state median of $205,802.
Why Live in Summit, WI?
Summit offers a strong local economy with a median household income of $124,750, well above the national average, and a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 55.3% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 7.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $510,200. However, Summit’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Summit has a population of 4,997 with a median age of 53.2 years. Compare Summit with other cities to see how it stacks up, or explore all cities in Wisconsin.
Similar Cities Near Summit
Cities in Wisconsin with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dodgeville | 5,013 | $72,768 | $234,000 | Compare |
| Union Grove | 4,968 | $94,621 | $258,100 | Compare |
| Wind Lake | 5,028 | $100,306 | $357,500 | Compare |
| Richland Center | 5,030 | $51,472 | $137,700 | Compare |
| Lake Wisconsin | 5,051 | $116,053 | $421,500 | Compare |
| Okauchee Lake | 4,827 | $129,241 | $473,600 | Compare |
| Mayville | 5,169 | $66,453 | $184,800 | Compare |
| Tichigan | 5,173 | $124,821 | $386,600 | 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.
Compare Summit With Other Cities
Frequently Asked Questions about Summit
What is the population of Summit, WI?
The population of Summit, WI is 4,997 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Wisconsin.
What is the median household income in Summit?
The median household income in Summit, WI is $124,750 per year, which is 66% above the national median of $75,149.
What is the median home value in Summit?
The median home value in Summit, WI is $510,200, which is 108% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Summit?
The median monthly rent in Summit, WI is $1,734, which is 49% above the national average of $1,163/month.
What is the unemployment rate in Summit?
The unemployment rate in Summit, WI is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Summit, WI a good place to live?
Summit offers above-average incomes, a competitive housing market, and a strong job market. With a population of 4,997 and a median age of 53.2, the city appeals to established professionals and retirees.
How educated is Summit, WI?
55.3% of residents in Summit aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Summit?
Key cost-of-living indicators for Summit, WI: median home value is $510,200 (108% above national), median rent is $1,734/month, and median household income is $124,750. The home-value-to-income ratio is 4.1x, a moderate figure by national standards.
What is the poverty rate in Summit?
The poverty rate in Summit, WI is 7.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Summit, WI?
Summit's population is 2.5% White, 0.1% Hispanic or Latino, 0.6% Black or African American, 0.0% Asian, and 0.1% two or more races. 3.8% of residents are foreign-born.