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What is the Cost of Living in Wisconsin?

Harley Davidson museums, breweries and the Great Lakes are synonymous with Wisconsin, and should be enough to pull in anyone to this state. The question that follows is, what are the living costs here? We answer that in this blog.
What is the Cost of Living in Wisconsin?
Wisconsin, as with other American states, has a varied cost of living. Read our blog on What is the cost of living in Wisconsin to get a grasp of the topic.

When thinking of moving to a new state, a key question is, “What will it cost to live there?” For Wisconsin, the answer is complex. It is a state of lakes, several small towns, and sweet blue-collar worker cities. Each area has different living costs. Knowing Wisconsin’s living costs is crucial whether you prefer busy Milwaukee or quiet rural spots. What is the cost of living in Wisconsin? That’s what this blog will be dealing with.

This guide explores Wisconsin’s living costs, including housing, utilities, and taxes. It offers valuable insights for those moving or planning their finances. Cities like Madison and Green Bay are more expensive, mainly due to housing. In contrast, smaller towns and rural areas are cheaper. The state offers affordable housing, moderate transportation costs, and good healthcare. Yet, it’s vital to understand specific expenses for effective budgeting.

What is the Cost of Living in Wisconsin?

Wisconsin is cheaper, with a below-average cost of living. Most people live comfortably, with an average salary of $3,898 after tax. Furthermore, Housing costs are around 11% lower than the national average.

Wisconsin’s mix of low costs and a good quality of life appeals to everyone. City differences are notable. Madison and Milwaukee are more expensive due to their urban settings. In contrast, smaller cities like Marshfield are cheaper.

Read Related Article: What Is the Cost of Living in Pennsylvania?

What Are Housing Costs in Wisconsin?

Housing greatly affects living costs. Wisconsin, however, offers affordable options. The average home cost is about $262,652, making homeownership easier for many. Smaller towns and rural areas are even cheaper.

Rental prices vary by location. Cities like Madison and Milwaukee have higher rents. For instance, an apartment in Madison averages $1,567. In contrast, Marshfield offers much lower prices, with one-bedroom apartments starting at $936. Whether renting or buying, Wisconsin provides options for different budgets.

How Much Taxes do I Pay in Wisconsin?

Wisconsin’s tax system offers low and high rates, aiming for balanced revenue. Income tax, for instance, is progressive, levied from 3.5% and reaching as high as 7.65% depending on the income. Sales tax stands at 6.7%, and the base rate is 5%.

In addition, local jurisdictions can impose between 0.5% and 1.75%. Despite its complexities, residents can manage taxes with careful planning and knowledge. The system is designed to match tax burdens with public service needs.

How to Manage the Cost of Living in Wisconsin

  1. Choose an Affordable Location: Living in Wisconsin significantly affects your cost. Cities like Milwaukee and Madison are pricier, especially for housing. Consider smaller towns or suburbs for cheaper rent and lower overall costs.
  2. Budget Wisely: A budget is crucial in Wisconsin. Track all spending, from food to fun. Use apps or spreadsheets to manage income and expenses. Set aside savings. This ensures you cover your needs and enjoy life.
  3. Consider Public Transportation: Public transport is cheaper and more convenient in larger cities. Milwaukee and Madison offer bus services, avoiding car ownership costs. In rural areas, carpooling saves on fuel and maintenance.
  4. Look for Local Discounts: Wisconsin has many dining, shopping, and entertainment discounts. Watch for special offers, happy hours, and coupons. Loyalty programs also help save. Using these deals stretches your budget.
  5. Utilize Health Savings Plans: Healthcare costs can be high. Explore options like Health Savings Accounts and Medicaid. Research insurance for the best coverage. Preventive care helps avoid future costs.

Utility Expenses in Wisconsin: What to Expect

Utility bills in Wisconsin average about $395 per month, similar to most U.S. states. This covers electricity, water, natural gas, and the internet.

Here’s a typical breakdown:

  • Electricity: $100.18
  • Natural Gas: $77
  • Water: $18
  • Internet: $40

Many providers offer budget billing to spread costs evenly and avoid spikes during extreme weather. By being mindful of energy use, residents can better manage their bills.

Read Related Article: What is the Cost of Living in Iowa?

Grocery Prices and Food Costs in Wisconsin

Grocery prices in Wisconsin match national averages, keeping costs manageable. A family typically spends about $385 monthly, but diet and size vary.

Here are some typical prices:

  • Milk: $0.88 per liter
  • Bread: $3.08 per loaf
  • Chicken breast: $11.50 per kilogram
  • Cheese: $11.50 per kilogram
  • Apples: $4.95 per kilogram

Transportation Costs in Wisconsin

Wisconsin’s transportation costs are moderate. The price of gasoline is approximately $3.45 per gallon. Milwaukee and Madison have public transport systems. Monthly passes cost around $61.20.

Drivers also need to consider vehicle maintenance and insurance. Commuters spend slightly less than the national average annually.

How Much Does Healthcare Cost in Wisconsin?

Healthcare costs in Wisconsin are higher than the national average. An adult without children pays about $3,335 a year. Families, however, spend over $8,200, depending on their size and coverage.

Residents need to manage these costs carefully. They should compare health insurance plans to find the best fit. Choosing in-network providers also helps, as they offer lower rates. With the right plan and provider, residents can better manage Wisconsin’s high healthcare costs.

What are Education and Childcare Costs in Wisconsin?

In Wisconsin, families face high education and childcare costs. Childcare costs an average of $11,068 per year for one child, doubling for two. Costs vary by location and type. In most cases, daycare facilities cost less than caregivers’ and private providers’ services. However, private schools can be expensive, and some fees exceed thousands of dollars yearly.

In addition, Wisconsin’s higher education costs are about equal to the national cost average. In-state students fare better than out-of-state students. The state offers financial assistance, scholarships, and grant programs to support residents who qualify.

Read Related Article: What Is the Cost of Living in Utah?

Entertainment and Leisure Expenses in Wisconsin

Wisconsin offers diverse entertainment and leisure options. However, it’s crucial to budget, as costs can rise quickly. Knowing typical prices helps in planning whether you’re into sports, movies, or shopping. A gym membership costs an average of $63 a month, ranging from $40 to $80. Renting a tennis court for an hour costs about $20, though some courts are free. Movie tickets for international releases cost about $14.75, with some starting at $12.

Also, fashion prices in Wisconsin match national averages. Levi’s jeans cost around $62.50, whereas summer dresses from Zara or H&M range from $25 to $65. You can enjoy Wisconsin’s leisure and fashion by prioritizing spending and seeking deals without overspending.

How Much Is Cost of Living in Wisconsin?

Wisconsin’s cost of living is average compared to other states, bringing it within the reach of many. The individual will need about $1,979 per month for basic needs like housing and utilities. This is 11% lower than average, with savings mainly from housing. So residents can increase their incomes.

The average after-tax salary is about $3,898 monthly, comfortably covering living costs. This income supports savings or investments. While cities like Madison and Milwaukee are pricier, smaller towns like Marshfield offer cheaper housing, allowing for a balanced, manageable lifestyle.

How Beem Can Help Manage Costs in Wisconsin

Beem’s BFF Budget Planner lets you spend, save, plan, and protect your money like an expert with on-point financial insights and recommendations in Wisconsin. By monitoring spending, users can spot saving opportunities. Beem also provides local insights. It shows various cities’ average rent, utilities, transport, and grocery costs, helping users create personalized plans. Download the app here!

Living expenses in Wisconsin vary. Beem allows users to tailor plans based on location, income, and lifestyle. Tracking monthly expenses helps plan future costs like healthcare, education, or vacations. Moreover, Beem offers financial advice and alerts to stay on budget and seize savings. This support makes enjoying Wisconsin’s nature and communities easier.

Read Related Article: What is the Cost of Living in Louisiana?

Conclusion

The cost of living in Wisconsin balances affordability and value, varying by region. Yet, it is important to understand its housing, groceries, healthcare, and transportation expenses. The state offers affordable housing, moderate transportation costs, and good healthcare. As a result, its affordability and quality of life attract many.

Beem can simplify managing these costs. It’s a platform that more than 5 million Americans trust. Beem also stands out with its consistently high rankings, offering cash advances up to $1,000. Get help with personal loans, health services, payments, budgeting, tax calculation, and more!

FAQs for What is the Cost of Living in Wisconsin

What is the average cost of living in Wisconsin?

Wisconsin’s cost of living is slightly below the national average, making it affordable. Monthly costs are about $1,979, and the average post-tax income easily covers this.

How do housing costs in Wisconsin compare to the national average?

Housing in Wisconsin is cheaper than the national average. The median home cost is about $262,652. Rent varies. It’s higher in cities like Madison, but smaller towns offer more affordable options.

Are utilities expensive in Wisconsin?

In Wisconsin, utility costs average about $395 monthly. This covers electricity, gas, water, and the Internet. However, energy-efficient appliances and good insulation can lower these costs.

What are the transportation options and costs in Wisconsin?

Transportation costs are moderate. Milwaukee and Madison have public transport. Monthly passes cost about $61.20. A person spends $4,400 annually on transportation.

How much should I budget for groceries in Wisconsin?

Allocate $385 monthly for groceries. This is slightly above average. For example, milk costs $0.88 per liter, and chicken is $11.50 per kilogram.

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Author

Picture of Monica Aggarwal

Monica Aggarwal

A journalist by profession, Monica stays on her toes 24x7 and continuously seeks growth and development across all fronts. She loves beaches and enjoys a good book by the sea. Her family and friends are her biggest support system.

Editor

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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