Cost Of Living in New Richmond, WI

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	New Richmond	Wisconsin	National
Cost of living	99	96	100
Goods & Services	96	97	100
Groceries	99	99	100
Health care	101	112	100
Housing	104	88	100
Transportation	98	98	100
Utilities	94	102	100

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Cost Of Living Quick Facts

The cost of living in New Richmond is 3% higher than the Wisconsin average
The cost of living in New Richmond is 1% lower than the national average
New Richmond housing is 4% higher 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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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	$91,790	$7,649	$2,142	$2,754
Renters	$41,454	$3,455	$967	$1,244

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in New Richmond, WI, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for New Richmond homeowners, is $91,790. This would allow for a maximum of $2,142 per month to be spent on housing costs. For renters, the median monthly income is $41,454 which would result in a maximum of $967 to be spent on rental costs.

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	New Richmond	National avg.	Difference
Haircut	$28.67	$24.26	18.2%
Beauty Salon	$34.55	$45.56	24.2%
Toothpaste	$3.75	$3.70	1.4%
Shampoo	$1.30	$1.28	1.5%
Movie	$13.47	$12.13	11.0%
Bowling	$21.50	$18.00	19.4%

Groceries

Item	New Richmond	National avg.	Difference
Ground Beef	$5.49	$5.84	5.9%
Fried Chicken	$1.35	$1.57	14.2%
Milk	$4.63	$4.67	0.8%
Potatoes	$4.98	$4.93	0.8%
Pizza	$12.49	$12.09	3.3%
Beer	$9.36	$10.41	10.1%

Health Care

Item	New Richmond	National avg.	Difference
Optometrist	$145.44	$125.68	15.7%
Doctor	$229.08	$135.78	68.7%
Dentist	$108.67	$113.29	4.1%
Ibuprofen	$10.36	$10.65	2.7%
Lipitor	$599.08	$468.60	27.8%

Housing

Item	New Richmond	National avg.	Difference
Home Price	$199,800.00	$184,700.00	8.2%
Avg. Mortgage Payment	$1,941.44	$2,346.69	17.3%
Apartment Rent	$895.00	$949.00	5.7%

Transportation

Item	New Richmond	National avg.	Difference
Gasoline	$3.38	$3.46	2.5%
Tire Balancing	$61.74	$59.92	3.0%

Utilities

Item	New Richmond	National avg.	Difference
All Electricity	$175.38	$193.99	9.6%
Phone	$187.39	$192.25	2.5%

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.
Houlton, WI	105	97	3.3%
Emerald, WI	227	90	10.3%
Clear Lake, WI	1,105	88	11.7%
Deer Park, WI	258	89	10.6%
Amery, WI	2,819	90	9.9%
New Richmond, WI	9,212	99	1.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Madeira, OH	9,211	120	20.3%
Flowood, MS	9,213	98	1.7%
Lynwood, IL	9,210	99	0.9%
Dunn Loring, VA	9,217	195	95.2%
Saint-Zotique, QC	9,205	n/a
New Richmond, WI	9,212	99	1.1%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in New Richmond, WI