States › Wisconsin › Vilas County › ZIP 54540
ZIP code
ZIP 54540
FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. FHFA describes its ZIP code indexes as developmental: they may be revised as new data arrive or methods change, and the index does not give a dollar value for any home.
ZIP code 54540 is in Vilas County, Wisconsin. FHFA's index for it begins in 1998; through 2022 it stands at 218, meaning prices in repeat sales of the same homes are up +118.1% since 1998. FHFA's most recent value for this area is for 2022, so every span here ends in 2022.
Over the ten years to 2022 the index rose +43.0%, about +3.6% a year: below Vilas County (+48.5%), well below Wisconsin (+63.6%) and well below the national index (+86.1%). The change over 2021–2022 was +32.9%.
By decade, the strongest was the 2000s (+24.3%) and the weakest the 2010s (−3.6%).
From its 2007 peak the index fell −22.9% to a 2017 low and regained the peak in 2022.
Building activity is measured at county level: Vilas County authorised 263 housing units in the 12 months to August 2026, 11.1 per 1,000 residents, 100% of them single-family.
Same span, five levels
| Change in the FHFA index | ZIP 54540 | Vilas County | Metro area | Wisconsin | United States |
|---|---|---|---|---|---|
| 1 year (2021–2022) | +32.9% | +20.8% | — | +14.7% | +15.5% |
| 5 years (2017–2022) | +56.4% | +45.1% | — | +43.4% | +46.2% |
| 10 years (2012–2022) | +43.0% | +48.5% | — | +63.6% | +86.1% |
| 20 years (2002–2022) | +58.5% | +74.3% | — | +78.4% | +101.4% |
| Since 2000 | +65.3% | +96.7% | — | +94.9% | +126.5% |
| Since 1998 | +118.1% | +130.3% | — | +117.2% | +156.0% |
| 10-year annualised | +3.6% | +4.0% | — | +5.0% | +6.4% |
| 20-year annualised | +2.3% | +2.8% | — | +2.9% | +3.6% |
Every column uses FHFA's annual all-transactions index family and the same start and end years, so the figures are directly comparable. A dash means the level has no index for that span.
Decade by decade
| Decade | Change | United States | |
|---|---|---|---|
| 2000s (2000–2010) | +24.3% | +29.7% | |
| 2010s (2010–2020) | −3.6% | +35.5% | |
| 2020s so far (2020–2022) | +38.0% | +28.9% |
FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1998 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1998 are not shown.
Peak-to-low declines
Falls of 5% or more from a previous high in the annual index, and the year the earlier peak was regained.
| Peak | Low | Decline | Peak regained |
|---|---|---|---|
| 2007 | 2017 | −22.9% | 2022 |
Building permits in Vilas County
Permits are reported by county and by permit-issuing place, not by ZIP code. Housing units authorised in Vilas County, latest 12 months.
Housing units authorised in Vilas County by month, Sep 2025 to Aug 2026single-family2+ unit buildings
Full permit history and every city in Vilas County
Other ZIP codes in Vilas County
Ranked by ten-year change in the FHFA index.
| ZIP | 1 year | 10 years | Since 2000 | Index through |
|---|---|---|---|---|
| 54568 | +16.0% | +111.8% | +157.8% | 2025 |
| 54519 | −7.9% | +111.1% | +178.1% | 2025 |
| 54521 | +0.4% | +107.0% | +166.4% | 2025 |
| 54558 | +6.2% | +93.5% | +144.1% | 2025 |
| 54557 | — | +77.5% | — | 2025 |
| 54538 | +15.1% | +74.6% | +140.2% | 2025 |
| 54554 | — | +67.4% | +101.7% | 2024 |
| 54545 | +9.7% | +48.4% | — | 2022 |
| 54512 | +5.1% | +18.7% | — | 2021 |
All 10 ZIP codes in Vilas County
Questions and answers
How much have home values in ZIP 54540 risen over 10 years?
The FHFA house price index for 54540 rose +43.0% between 2012 and 2022, about +3.6% a year compounded. Over five years the change was +56.4% and over one year +32.9%.
How does 54540 compare with Vilas County?
Over the same ten years to 2022, Vilas County rose +48.5%, Wisconsin +63.6% and the United States +86.1%, against +43.0% for the ZIP.
What happened to prices in 54540 after 2007?
The index peaked in 2007, fell −22.9% to its 2017 low and passed the earlier peak again in 2022. Nationally the fall was −21.3% from 2007 to 2012.
How many homes are being built in 54540?
Building permits are published by place and county, not by ZIP. Vilas County authorised 263 housing units in the 12 months to August 2026, −20.1% on the previous 12 months. The county page lists permits by month and by city.
Where does the index for this ZIP come from?
From the Federal Housing Finance Agency's annual five-digit ZIP code house price index (all-transactions), last updated March 31, 2026. FHFA labels the ZIP-level indexes developmental: they are calibrated on appraisal values and sales prices for mortgages bought or guaranteed by Fannie Mae and Freddie Mac, and may be revised. The index tracks price changes for the same homes over time; it does not give a dollar value for any home.
Provenance
Index: Federal Housing Finance Agency, annual house price index for five-digit ZIP codes (all-transactions, developmental), last updated March 31, 2026, values 1998–2022, public domain. County, state and national comparison series are FHFA's annual indexes for those levels from the same release. ZIP to county assignment uses the Census Bureau's 2020 ZCTA-to-county relationship file (largest land share); county to metro uses OMB's July 2023 delineations. Permits: Census Bureau Building Permits Survey through August 2026. Errors in processing are corrected at the next build; see corrections. FHFA HPI datasets.