New Richmond, WI, offers a cost of living that is slightly lower than the nationwide average. The overall cost of living index for New Richmond stands at 92, which is 8% below the national average of 100. This lower cost is primarily due to the housing index, which is 15% below the national average.
Despite the lower housing costs, other categories like groceries, utilities, and miscellaneous expenses are close to the national average, with only minor variations. For instance, groceries and miscellaneous expenses are both 10% below the national average, while utilities are 5% below. Transportation and healthcare costs in New Richmond match the national average, providing a balanced cost of living experience.
New Richmond, Wisconsin, offers a cost of living that is notably lower than the nationwide average. The housing index stands at 85, which means housing costs are 15% less than the national average. This makes it an attractive option for those looking to save on their housing expenses. Additionally, groceries in New Richmond are priced at 90 on the cost of living index, indicating a 10% savings compared to the national average. This combination of lower housing and grocery costs can significantly reduce living expenses for residents.
Utilities in New Richmond are priced at 95 on the cost of living index, which is only 5% higher than the national average. This slight increase does not significantly impact the overall cost of living. Transportation costs in New Richmond match the national average at 100, meaning there is no difference in cost for commuting. Healthcare costs also align with the national average at 100, ensuring that medical expenses remain consistent with what one might expect nationwide. Miscellaneous costs are at 90, offering a 10% reduction compared to the national average. Overall, New Richmond provides a cost-effective living environment with several key areas below the national average.
