Lake Tomahawk, WI

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Lake Tomahawk short-term rental market based on reliable data.

Listings

133 / 287

Reliable / Active

Cap Rate

8%

Middle-Earners Gross Yield

Revenue

$25,848

Middle-Earners Revenue

Occupancy

47%

Middle-Earners Occupancy

Home Value

$343,190

Median Home Sale Price

Top Earners

$58,563

Top-Earners Revenue

Lake Tomahawk

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Lake Tomahawk.

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C

Challenging to Investors

Lake Tomahawk Regulations

Allowed citywide but requires a county administrative review permit, a state Tourist Rooming House license via the county health department, town STR licensing and room-tax registration, plus health and fire inspections, insurance, and local management standards. Minimum stay of seven days (state-preempted above 29 days) and occupancy/parking/zoning limits constrain operations; annual renewals, reporting, and potential penalties add compliance costs.

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About Lake Tomahawk

Lake Tomahawk is a small unincorporated community in Oneida County, Wisconsin, nestled in the heart of the state's Northwoods lake region. The community, home to approximately 1,000 year-round residents, has the laid-back, outdoorsy character typical of northern Wisconsin vacation country — quiet in the off-season and noticeably busier in summer when anglers, boaters, and families arrive to enjoy the surrounding waters and forests. It is best known as a year-round gateway to the thousands of lakes and wooded landscapes of Oneida County, and it sits roughly 20 miles north of Rhinelander, the nearest city of meaningful size, and approximately 200 miles north of Madison.

The community takes its name from the lake it surrounds, a large, irregularly shaped body of water popular for musky, walleye, and smallmouth bass fishing. Public boat launches and small lakefront access points give visitors easy entry to the water, and the calm bays and largely undeveloped shoreline make the lake appealing for paddling, swimming, and evening loon-watching. A short-term rental here places guests within a short drive of multiple launch points, and the lake itself functions as the area's central amenity.

Just south of the community, the Bearskin State Trail is a well-known rail-trail that runs between Minocqua and the city of Tomahawk, passing through the Lake Tomahawk area. The crushed-stone corridor is popular with cyclists, walkers, and cross-country skiers in winter, and several trail access points lie within a short drive of the village. For guests who prefer land-based recreation, it is one of the area's most reliable draws in every season.

A short drive east, the Nicolet National Forest covers more than a million acres of northern Wisconsin with lakes, rivers, and stretches of old-growth forest. The forest offers hiking, ATV routes, camping, and additional fishing opportunities, and it serves as a quieter alternative to the more developed lakes immediately around the community. Many vacationers use Lake Tomahawk as a base for day trips into the forest.

The city of Rhinelander, the Oneida County seat, lies about 30 minutes south and provides the nearest concentration of restaurants, breweries, grocery stores, and year-round services. It also functions as a regional hub for the Northwoods, making it a convenient spot for guests seeking a livelier evening out or a wider range of amenities during their stay.

Together, the area's defining lake, the surrounding national forest, the regional trail system, and the easy reach of Rhinelander make Lake Tomahawk a quietly compelling base for short-term rentals. The community offers the seclusion and natural beauty that drive Northwoods tourism while remaining close enough to larger services to satisfy a wide range of vacationers, supporting a steady rhythm of seasonal guests throughout the year.

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