New Richmond, WI Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In New Richmond, WI Summary

Cost of living in New Richmond research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means New Richmond is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Wisconsin, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in New Richmond is 97, with 100 being the average.

  • The cost of living index in New Richmond is 1.0x lower than the national average.

  • New Richmond ranks as the #83 cheapest in Wisconsin out of 143.

  • New Richmond ranks as the #2,747 cheapest out of 6,412 in the US.

  • The median home value in New Richmond is $213,600.

  • The median income in New Richmond is $71,827.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
97
New Richmond's Overall Cost Of Living
1.0x
Lower Than The National Average

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 97, which is 1.0x lower 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 95.

The standard of living in New Richmond ranks as #83 most affordable out of the 143 places we measured in Wisconsin. By definition, that implies New Richmond ranks as the #60 most expensive place in the Badger State.

For more reading on life in New Richmond, check out:

83 out of 143
In Wisconsin
2,747 out of 6,412
In America

New Richmond Cost Of Living Vs. Wisconsin

Six factors go into calculating the cost of living index in New Richmond. Here is how it fairs on each of the criteria:

  • The Services index in New Richmond is 115.

  • The Groceries index in New Richmond is 102.

  • The Health index in New Richmond is 104.

  • The Housing index in New Richmond is 82.

  • The Transportation index in New Richmond is 103.

  • The Utilities index in New Richmond is 95.

Living Expense New Richmond Wisconsin National Average
Overall 97 95 100
Services 115 97 100
Groceries 102 98 100
Health 104 114 100
Housing 82 84 100
Transportation 103 96 100
Utilities 95 103 100
For more reading on cost of living around Wisconsin, check out:
New Richmond Cost of Living Vs. WI

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 2017-2021. The key points are:

  • The Median Home Value in New Richmond is $213,600.

  • The Median Rent in New Richmond is $854.

  • The Median Income in New Richmond is $71,827.

  • The Home Value To Income in New Richmond is 3.0x.

  • The Rent To Monthly Income in New Richmond is 0.14x.

Statistic New Richmond Wisconsin United States
Median Home Value $213,600 $200,400 $244,900
Median Rent $854 $916 $1,163
Median Income $71,827 $67,080 $69,021
Home Value To Income 3.0x 3.0x 3.5x
Rent To Monthly Income 0.14x 0.16x 0.2x
Search Homes For Sale In New Richmond, WI
$213,600
Median Home Value
$854
Median Rent
$71,827
Median Income

New Richmond, WI Costs By Category

Detailed New Richmond Services Costs Vs. Wisconsin

Item New Richmond Wisconsin
Shampoo $1.11 $1.06
Movie $10.55 $10.68
Bowling $25.79 $14.67
Haircut $25.21 $18.62
Beauty Salon $35.12 $39.05

Detailed New Richmond Groceries Costs Vs. Wisconsin

Item New Richmond Wisconsin
Ground Beef $4.45 $4.22
Fried Chicken $2.2 $1.39
Milk $2.59 $2.05
Potatoes $3.33 $3.29
Pizza $12.95 $10.62
Beer $9.01 $9.38
Toothpaste $3.37 $2.34

Detailed New Richmond Health Costs Vs. Wisconsin

Item New Richmond Wisconsin
Optometrist $90.27 $108.57
Doctor $148.38 $116.17
Dentist $86.91 $99.13

Detailed New Richmond Transportation Costs Vs. Wisconsin

Item New Richmond Wisconsin
Gasoline $2.06 $2.22
Tire Balancing $59.83 $50.07

Detailed New Richmond Utilities Costs Vs. Wisconsin

Item New Richmond Wisconsin
All Electricity $156.09 $167.67
Phone $182.1 $175.64

New Richmond SnackAbility

8.5
/10
Overall SnackAbility
Jobs
9/10
Housing
8
Affordability
8
Diversity
4
Safety
8
Amenities
8
Education
8.5
Commute
7

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 122, 1.3x New Richmond.

  • Woodbury, MN has a cost of living index of 122, 1.3x New Richmond.

  • Maple Grove, MN has a cost of living index of 117, 1.2x New Richmond.

City Population Cost Of Living Vs. New Richmond
Plymouth, MN 80,034 122 1.3x
Woodbury, MN 74,014 122 1.3x
Maple Grove, MN 69,900 117 1.2x
Lakeville, MN 69,026 116 1.2x
Eden Prairie, MN 64,048 121 1.2x
Minnetonka, MN 53,809 121 1.2x
Edina, MN 53,059 135 1.4x
Shoreview, MN 26,871 110 1.1x
Champlin, MN 23,877 110 1.1x
Mahtomedi, MN 8,041 118 1.2x

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