Quick facts: Irma, WI

Quick Facts

100.2
Cost of Living
above US average
137
Population
Crime rate Data is updating, will be available soon
$60,500
Median Income
below US average
$275,000
Median House Price
above US average
$1325
Average Rent
below US average
6%
Poverty Rate
below US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,500.

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Income Needed to Buy

βœ— Stretch
$86k/year
Based on $275,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $86k vs median $60,500
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Income Needed to Rent

βœ“ Affordable
$57k/year
Based on $1325/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($60,500) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Irma, WI

Irma is a small unincorporated community located in Lincoln County, Wisconsin. Nestled within the scenic Northwoods region, Irma is primarily residential, offering a tight-knit community atmosphere. The area is surrounded by beautiful natural landscapes, including lush forests, lakes, and rivers, making it an attractive destination for outdoor enthusiasts. Residents and visitors can enjoy activities such as fishing, hiking, and snowmobiling, taking full advantage of the abundant natural resources. Irma is also near larger towns, such as Tomahawk and Merrill, providing access to additional amenities, shopping, and dining options. The community's charm is evident in its slower-paced lifestyle, where neighbors often know each other by name. Irma reflects the quintessential small-town vibe of Wisconsin, making it a peaceful retreat for those looking to escape the hustle and bustle of urban living. Overall, Irma serves as a hidden gem for those seeking tranquility in a picturesque setting.

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