1st Advantage MortgageA DSCR loan in Oshkosh turns on rent versus payment. Citywide medians from the Census are $935 a month for rent, $177,700 for home value and $3,401 a year for real estate taxes.
Oshkosh by the Census numbers
A DSCR lender in Oshkosh is comparing a rent against a payment, and the citywide benchmarks are a median gross rent of $935 and a median home value of $177,700. The rent figure is about 14% below the Wisconsin median of $1,087. Dividing a year of median rent by the median home value gives a gross rent-to-value ratio of 6.3%, a middle-of-the-road gross ratio. It mixes apartments and houses, so treat it as a compass and not as the number for any one property.
| Indicator | Wisconsin | Oshkosh | Difference |
|---|---|---|---|
| Tax as a share of home value | 1.42% | 1.91% | +35% |
| Annual property tax bill, median | $3,792 | $3,401 | -10% |
| Household income, median | $77,485 | $62,188 | -20% |
| Typical owner-occupied value | $266,500 | $177,700 | -33% |
| Persons per household | 2.33 | 2.20 | |
| Share in 2-4 unit buildings | 9.4% | 13.8% | +47% |
| Share of homes detached | 66.2% | 55.8% | -16% |
| Long commuters, 45 min plus | 10.2% | 5.9% | -42% |
| Degree holders, age 25+ | 33.4% | 27.3% | -18% |
| Workers on their own account | 8.5% | 5.0% | -41% |
| Renters paying 30%+ of income | 43.7% | 44.0% | +1% |
| Units sitting vacant | 10.8% | 6.7% | -38% |
| Typical construction year | 1975 | 1971 | |
| Households that rent | 32.2% | 45.0% | +40% |
| Residents (Census estimate) | 5,914,872 | 66,729 |
45.0% of Oshkosh households rent, well above the Wisconsin median of 32%. That is a healthy base of tenants without the churn of a pure student or military town. Against a median household income of $62,188 (about 20% below the Wisconsin median of $77,485), 44% of renters report rent at or above 30 percent of income.
What Oshkosh investors are buying
Only 56% of units in Oshkosh are detached houses. The rest is townhomes, duplexes and apartments, with two to four unit buildings at 14% of the total. With 1971 as the median build year, expect aging HVAC and roofs and ask for the dates of the last replacements.
About 7% of Oshkosh's housing units are vacant, and the rental vacancy rate (units for rent against rented plus for-rent units) works out to 6.5%.
Underwriting angles in Oshkosh
At 6.3% gross, Oshkosh is a middle-yield market, so ratios usually clear with a normal down payment and careful attention to insurance and taxes. Housing here is neither new nor ancient, so condition varies widely from block to block and the inspection tells you more than the median. A 45% renter share is large enough to keep units leased, so location relative to jobs and schools drives rent more than the market as a whole.
Taxes and risk in Oshkosh
Tax drag is easy to underestimate. Oshkosh owners report a median $3,401 in annual real estate taxes, about 10% below the Wisconsin median of $3,792, an effective 1.91% of median home value. Measured against a year of median rent, taxes eat about 30% before any other cost shows up.
County-level hazard data from FEMA (National Risk Index 1.20) shows Winnebago County with relatively moderate overall risk and cold waves (relatively high), strong wind (relatively high) and tornadoes (relatively high) at the top of the list.
| Hazard in Winnebago County, FEMA index | Level |
|---|---|
| Lightning exposure | Relatively High |
| Tornadoes exposure | Relatively High |
| Strong wind exposure | Relatively High |
| Cold waves exposure | Relatively High |
| Social vulnerability score | Relatively Low |
| Annualized loss estimate | Relatively Moderate |
| Composite risk | Relatively Moderate |
A Oshkosh landlord policy is priced on roof, age, wiring and location, and the annual premium divided by twelve lands in the payment the lender tests.
Working the Oshkosh rent math
At the city medians a DSCR file in Oshkosh has $652 a month after taxes to cover principal, interest, insurance and dues if the ratio is 1.00, or $465 if the ratio is 1.25. Those two numbers show why insurance quotes and tax estimates come first.
Rules a Oshkosh landlord should check
This page does not claim to list every Oshkosh rental ordinance. Before you buy, call the city's planning or code office and Winnebago County to ask about rental registration, inspections and short-term rental permits, and read any association declaration. Nightly stays carry state tax in Wisconsin. Wisconsin taxes short-term lodging of under a month, requires a marketplace that processes the guest's payment to collect state sales tax, and leaves municipal room taxes to be filed with each taxing municipality.
Wisconsin gives a landlord 21 days after the tenancy ends to return a deposit, an easy deadline to miss without a checklist.
Oshkosh compared with nearby markets
Looking across the table, values run from $173,700 (Fond du Lac) up to $231,400 (Appleton), and Oshkosh lands at $177,700.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Sheboygan | 39% | $2,714 | $174,200 | 49,645 | $924 |
| Green Bay | 42% | $3,125 | $207,200 | 106,253 | $932 |
| Appleton | 33% | $3,588 | $231,400 | 75,023 | $1,030 |
| Fond du Lac | 42% | $3,074 | $173,700 | 44,494 | $913 |
| Oshkosh | 45% | $3,401 | $177,700 | 66,729 | $935 |
Who rents in Oshkosh
Self-employment accounts for 5.0% of Oshkosh's workforce, so many local investors earn income that a standard payroll-based mortgage underwrites poorly. Other workforce markers: government workers are about 15% of employment, 27% of adults hold a bachelor's degree or higher and 6% of commuters travel 45 minutes or more.
Colleges tied to Oshkosh include University of Wisconsin-Oshkosh and Fox Valley Technical College, and campus-adjacent streets often rent to students and staff on a school-year rhythm. Oshkosh offers interstate access via I-41 and air service through Wittman Regional Airport and Appleton International Airport, details that affect commute times and how easily a distant investor can inspect a property.
From a Oshkosh listing to a loan
Before you offer on a Oshkosh property, test the ratio in the calculator, then apply now or request a DSCR quote.
More Wisconsin markets
- All Wisconsin DSCR loans
- DSCR loans in Fond du Lac, WI
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- DSCR loans in Sheboygan, WI
- Every market we cover
Sources and data notes
- FEMA risk data used for Oshkosh
- Background reading: Oshkosh, Wisconsin
- Wisconsin landlord deposit rules, Wis. Stat. 704.28; Wis. Admin. Code ATCP 134.06
- For nightly stays in Oshkosh: Wisconsin DOR Publication 219
- Census Bureau ACS 5-year 2020 to 2024 tables
The Oshkosh statistics are five-year ACS estimates (2020 to 2024), which have sampling error. For Wisconsin tenant law we used RedFlagLease under CC BY 4.0 plus the linked statutes. Checked October 2026; confirm with Oshkosh or the county before you rely on any rule.
Pre-offer checklist
Before you commit on a Oshkosh deal, confirm the rent with the lease or a market estimate, price the insurance for the exact address, and check how the taxes may change after the sale, so the ratio you run matches the one the lender calculates.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Lease or market rent: what counts in Oshkosh?
It comes from a lease or from the market rent in the appraisal, whichever the program uses. Against that, the Oshkosh median is $935.
How do taxes and insurance affect a DSCR loan in Oshkosh?
Every piece of PITIA is in the denominator. With $935 in rent, a 1.25 lender allows about $748, leaving $465 after median taxes of $283 a month.
What tax bill should I expect on a Oshkosh rental?
The median bill is $3,401, an effective rate near 1.91%. Because Winnebago County may reassess at sale, use an estimate on the new price when you run the ratio.
Do DSCR lenders count short-term rental income in Oshkosh?
Yes on programs built for it, once the use is lawful in Oshkosh. Gather twelve months of statements or a third-party projection, and have Wisconsin tax registration squared away.
Are there deposit limits for Oshkosh rentals?
A landlord has 21 days to return the deposit. Both come from Wis. Stat. 704.28; Wis. Admin. Code ATCP 134.06.
What does FEMA say about hazard risk near Oshkosh?
Overall risk is rated relatively moderate for the county. Because the rating covers a whole county, look up the specific property on FEMA's flood map before you offer.
Should a Oshkosh rental be bought in an LLC?
No, but it is common. Entity borrowers supply articles, an operating agreement and an EIN letter, and the owners typically guarantee the loan. A Wisconsin attorney can advise on structure.