What is the cost of living in New Richmond, WI?
According to the most recent data on the cost of living, New Richmond has an overall cost of living index of 102, which is 1.0x higher than the national index of 100.
Compared to Wisconsin, New Richmond has a cost of living index that's 1.0x higher than Wisconsin's index of 98.
The standard of living in New Richmond ranks as #92 most affordable out of the 146 places we measured in Wisconsin. By definition, that implies New Richmond ranks as the #54 most expensive place in the Badger State.
For more reading on life in New Richmond, check out:
New Richmond Cost Of Living Vs. Wisconsin
Six factors go into calculating the cost of living index in New Richmond. Here is how it fares on each of the criteria:
The Services index in New Richmond is 99.
The Groceries index in New Richmond is 99.
The Health index in New Richmond is 105.
The Housing index in New Richmond is 100.
The Transportation index in New Richmond is 104.
The Utilities index in New Richmond is 103.
| Living Expense | New Richmond | Wisconsin | National Average |
|---|---|---|---|
| Overall | 102 | 98 | 100 |
| Services | 99 | 98 | 100 |
| Groceries | 99 | 100 | 100 |
| Health | 105 | 91 | 100 |
| Housing | 100 | 99 | 100 |
| Transportation | 104 | 102 | 100 |
| Utilities | 103 | 100 | 100 |
New Richmond Cost Of Living Compared To Wisconsin Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Wisconsin, check out:
Protect your home budget Compare home warranties in New Richmond Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
New Richmond, WI Housing Cost Breakdown
Housing swings affordability the most between places in Wisconsin, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in New Richmond is $374,056.
The Median Rent in New Richmond is $1,168.
The Median Income in New Richmond is $88,157.
The Home Value To Income in New Richmond is 4.2x.
The Rent To Monthly Income in New Richmond is 0.16x.
| Statistic | New Richmond | Wisconsin | United States |
|---|---|---|---|
| Median Home Value | $374,056 | $330,171 | $332,700 |
| Median Rent | $1,168 | $1,087 | $1,413 |
| Median Income | $88,157 | $77,485 | $80,734 |
| Home Value To Income | 4.2x | 4.3x | 4.1x |
| Rent To Monthly Income | 0.16x | 0.17x | 0.21x |
New Richmond, WI Costs By Category
Detailed New Richmond Services costs vs. Wisconsin
| Item | New Richmond | Wisconsin |
|---|---|---|
| Shampoo | $1.3 | $1.28 |
| Movie | $13.47 | $12.13 |
| Bowling | $21.5 | $18 |
| Haircut | $28.67 | $24.26 |
| Beauty Salon | $34.55 | $45.56 |
Detailed New Richmond Groceries costs vs. Wisconsin
| Item | New Richmond | Wisconsin |
|---|---|---|
| Ground Beef | $5.49 | $5.84 |
| Fried Chicken | $1.35 | $1.57 |
| Milk | $4.63 | $4.67 |
| Potatoes | $4.98 | $4.93 |
| Pizza | $12.49 | $12.09 |
| Beer | $9.36 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed New Richmond Health costs vs. Wisconsin
| Item | New Richmond | Wisconsin |
|---|---|---|
| Optometrist | $145.44 | $125.68 |
| Doctor | $229.08 | $135.78 |
| Dentist | $108.67 | $113.29 |
Detailed New Richmond Transportation costs vs. Wisconsin
| Item | New Richmond | Wisconsin |
|---|---|---|
| Gasoline | $3.38 | $3.46 |
| Tire Balancing | $61.74 | $59.92 |
Detailed New Richmond Utilities costs vs. Wisconsin
| Item | New Richmond | Wisconsin |
|---|---|---|
| All Electricity | $175.38 | $193.99 |
| Phone | $187.39 | $192.25 |
New Richmond SnackAbility
Cost Of Living In Cities Around New Richmond
The cost of living varies in the cities and towns around New Richmond. Here's a quick look at the cost of living in the most populous nearby places:
Plymouth, MN has a cost of living index of 124, 1.2x New Richmond.
Woodbury, MN has a cost of living index of 120, 1.2x New Richmond.
Lakeville, MN has a cost of living index of 122, 1.2x New Richmond.
| City | Population | Cost Of Living | Vs. New Richmond |
|---|---|---|---|
| Plymouth, MN | 79,220 | 124 | 1.2x |
| Woodbury, MN | 78,305 | 120 | 1.2x |
| Lakeville, MN | 74,354 | 122 | 1.2x |
| Maple Grove, MN | 71,173 | 117 | 1.1x |
| Eden Prairie, MN | 63,051 | 128 | 1.3x |
| Edina, MN | 53,262 | 141 | 1.4x |
| Minnetonka, MN | 53,064 | 127 | 1.2x |
| Shoreview, MN | 26,714 | 116 | 1.1x |
| Champlin, MN | 23,294 | 111 | 1.1x |
| Mahtomedi, MN | 8,133 | 126 | 1.2x |
