Beloit cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBeloitWisconsinNational
Cost of living index8497100
IndexBeloitWisconsinNational
Goods & Services index9598100
Groceries index9199100
Health care index107112100
Housing index5891100
Transportation index107103100
Utilities index85100100
The above illustration supplies generalized information for the Beloit, WI cost of living index. Compared to other cities in Wisconsin and cities across the country, the cost of living index in Beloit, WI is 84, which is 14% lower than the Wisconsin average and 16% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Beloit, WI are 3% lower than the average for Wisconsin and 5% lower than the rest of the country.

Did you know?

  • The cost of living in Beloit is 14% lower than the Wisconsin average.
  • The cost of living in Beloit is 16% lower than the national average.
  • The cost of housing in Beloit is 42% lower than the national average.
  • Wisconsin general sales tax is 2% lower than the national average.
  • Wisconsin state income tax is 98% higher than the national average.

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Salary Calculator

This is how much you would need to earn in
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Goods & Services index
Groceries index
Health care index
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Transportation index
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The salary calculator is used in order to provide a comparison of your current salary in Beloit, WI to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Beloit, WI, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Beloit, WI salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$47,015$3,918$1,097$1,411
Renters$24,132$2,011$563$724
One can approximate the cost of living and the housing affordability in Beloit, WI by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Beloit, WI have a median income of $47,015. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,097 per month to avoid calamity and poverty. The renters in the city have an income of about $24,132, which would make their monthly maximum allowable rental costs $563.

Wisconsin Sales Tax

StateGeneral Sales TaxWith Max Surtax
Wisconsin5%5.6%

Wisconsin Income Tax

StateIncome Tax (Low)Income Tax (High)
Wisconsin4.4%7.65%
When considering the overall cost of living expenses in Beloit, WI, it's important to take into account the sales tax for Wisconsin, as well as the rate for income tax in Wisconsin. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Wisconsin is 5.6%, and the sales tax in the state of Wisconsin is 5%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Wisconsin starts from 4.4% and goes up to 7.65%.

Goods & Services

ItemBeloitNational avg.Difference
Haircut $13.71$15.5611.9%
Beauty Salon $29.19$36.1119.2%
Toothpaste $1.88$2.4724.1%
Shampoo $0.90$0.967.1%
Movie $10.36$10.132.3%
Bowling $3.99$4.7415.7%

Groceries

ItemBeloitNational avg.Difference
Ground Beef $3.47$3.9813.0%
Fried Chicken $1.41$1.410.0%
Milk $2.15$2.064.3%
Potatoes $2.16$2.9827.7%
Pizza $8.67$9.478.5%
Beer $7.96$8.799.5%

Health Care

ItemBeloitNational avg.Difference
Optometrist $73.86$101.0426.9%
Doctor $132.16$107.4423.0%
Dentist $94.44$90.424.5%
Ibuprofen $9.63$9.283.7%
Lipitor $431.63$426.501.2%

Housing

ItemBeloitNational avg.Difference
Home Price $85,500.00$175,700.0051.3%
Avg. Mortgage Payment $777.66$1,133.2331.4%
Apartment Rent $723.00$920.0021.4%

Transportation

ItemBeloitNational avg.Difference
Gasoline $2.11$1.995.7%
Tire Balancing $50.94$45.7611.3%

Utilities

ItemBeloitNational avg.Difference
All Electricity$141.68$163.8113.5%
Phone $23.50$28.3917.2%
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, StatePopulationCost of Living IndexNational Avg.
Hanover, WI17885-15%
Footville, WI75287-13%
South Beloit, IL8,12988-12%
Loves Park, IL24,43588-12%
Capron, IL1,79389-11%
Beloit, WI36,87684-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Martinez, CA36,87614646%
Keizer, OR36,8751099%
Brighton, NY36,8701022%
Oakton, VA36,86016464%
Dover, DE36,8261033%
Beloit, WI36,87684-16%
Source: The Beloit, WI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.