Cost of Living in Balsam Lake, WI

A+
10%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
25%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Balsam Lake Wisconsin National
Cost of living9096100
Goods & Services9697100
Groceries9999100
Health care101112100
Housing7588100
Transportation9898100
Utilities94102100
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Cost Of Living Quick Facts

  • The cost of living in Balsam Lake is 6% lower than the Wisconsin average
  • The cost of living in Balsam Lake is 10% lower than the national average
  • Balsam Lake housing is 25% lower than the national average
  • Wisconsin general sales tax is 2% lower than the national average
  • Wisconsin state income tax is 36% higher than the national average

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Compare Balsam Lake, WI Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$51,875$4,323$1,210$1,556
      Renters$33,558$2,797$783$1,007

      Wisconsin Sales Tax

      State General Sales Tax With Max Surtax
      Wisconsin 5% 6.75%

      Wisconsin Income Tax

      State Income Tax (Low) Income Tax (High)
      Wisconsin 3.54% 7.65%

      Goods & Services

      Item Balsam Lake National avg. Difference
      Haircut $28.67$24.2618.2%
      Beauty Salon $34.55$45.5624.2%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.30$1.281.5%
      Movie $13.47$12.1311.0%
      Bowling $21.50$18.0019.4%

      Groceries

      Item Balsam Lake National avg. Difference
      Ground Beef $5.49$5.845.9%
      Fried Chicken $1.35$1.5714.2%
      Milk $4.63$4.670.8%
      Potatoes $4.98$4.930.8%
      Pizza $12.49$12.093.3%
      Beer $9.36$10.4110.1%

      Health Care

      Item Balsam Lake National avg. Difference
      Optometrist $145.44$125.6815.7%
      Doctor $229.08$135.7868.7%
      Dentist $108.67$113.294.1%
      Ibuprofen $10.36$10.652.7%
      Lipitor $599.08$468.6027.8%

      Housing

      Item Balsam Lake National avg. Difference
      Home Price $127,600.00$184,700.0030.9%
      Avg. Mortgage Payment $1,941.44$2,346.6917.3%
      Apartment Rent $829.00$949.0012.6%

      Transportation

      Item Balsam Lake National avg. Difference
      Gasoline $3.38$3.462.5%
      Tire Balancing $61.74$59.923.0%

      Utilities

      Item Balsam Lake National avg. Difference
      All Electricity $175.38$193.999.6%
      Phone $187.39$192.252.5%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Milltown, WI1,0078317.2%
      Centuria, WI1,0808515.4%
      Turtle Lake, WI8918911.1%
      Luck, WI1,1708613.8%
      Frederic, WI1,1718713.4%
      Balsam Lake, WI8749010.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Brownville, NY874981.7%
      Plandome Heights, NY874252152.1%
      Lawrence, PA8741000.4%
      New Bethlehem, PA8748613.6%
      Kasabonika Lake, ON874n/a 
      Balsam Lake, WI8749010.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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