Cost of Living in Brookfield, WI

An Overview of Cost of Living in Brookfield, WI

Are you thinking about relocating, but curious about the potential cost of living in Brookfield? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Brookfield stands at 123, making it 23% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you value affordability in your search for a new place to live, Brookfield may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Brookfield falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs make up a big chunk of the cost of living in Brookfield, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 72.9% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Brookfield Affordable?

Is Brookfield an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Brookfield, the median home price is 79.5% higher than what most folks pay across the country, and monthly rent prices are 57.5% higher than the usual rates. Income levels in Brookfield come in at $107,380, which is 94.1% higher than the national average.

What Factors can Influence the Cost of Living in Brookfield?

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Brookfield, healthcare costs are 10.5% higher than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Brookfield, the transportation index stands at 1.1% lower than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Brookfield, the utilities index registers 5.1% higher than the national average.

Where is the Data From?

The Brookfield cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.