Elkhorn 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.
IndexElkhornWisconsinNational
Cost of living index9296100
IndexElkhornWisconsinNational
Goods & Services index9597100
Groceries index9397100
Health care index110114100
Housing index8788100
Transportation index105100100
Utilities index80102100
An overview of the general cost of living index for Elkhorn, WI is displayed above for your reference. Residents in Elkhorn, WI enjoy a cost of living index of 92. This index is 4% lower than the Wisconsin average, and 8% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Elkhorn, WI, the average cost of goods and services is 3% lower than it is in Wisconsin, and it is 5% lower than the national average.

Did you know?

  • The cost of living in Elkhorn is 4% lower than the Wisconsin average.
  • The cost of living in Elkhorn is 8% lower than the national average.
  • The cost of housing in Elkhorn is 13% lower than the national average.
  • Wisconsin general sales tax is 2% lower than the national average.
  • Wisconsin state income tax is 80% higher than the national average.

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Compare Elkhorn, WI Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Elkhorn, WI to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Elkhorn, WI, then you would need to earn more income in order to maintain the same standard of living. To use the Elkhorn, WI salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$64,256$5,355$1,499$1,928
Renters$34,583$2,882$807$1,038
If you want to find a good determining factor for the cost of living and the general affordability of housing in Elkhorn, WI, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Elkhorn, WI, the median monthly income is $64,256 for those who own their own homes. Under the standard rule, that income level would allow for $1,499 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $34,583, per the median income in the area. That would allow for renters to spend up to $807 on monthly rental expenses.

Wisconsin Sales Tax

StateGeneral Sales TaxWith Max Surtax
Wisconsin5%6.75%

Wisconsin Income Tax

StateIncome Tax (Low)Income Tax (High)
Wisconsin4%7.65%
When assessing the complete cost of living in Elkhorn, WI, the Wisconsin income tax and the Wisconsin sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Wisconsin maximum surtax is 6.75%, and the Wisconsin sales tax is 5%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4% to 7.65% in Wisconsin.

Goods & Services

ItemElkhornNational avg.Difference
Haircut $14.57$16.099.4%
Beauty Salon $30.09$37.3319.4%
Toothpaste $1.87$2.4523.7%
Shampoo $0.95$1.005.4%
Movie $10.86$10.285.6%
Bowling $4.00$4.9318.9%

Groceries

ItemElkhornNational avg.Difference
Ground Beef $3.29$3.8013.6%
Fried Chicken $1.48$1.406.0%
Milk $2.08$2.013.8%
Potatoes $2.98$3.011.0%
Pizza $9.00$9.899.0%
Beer $7.97$8.9010.5%

Health Care

ItemElkhornNational avg.Difference
Optometrist $74.35$102.1627.2%
Doctor $138.85$108.3628.1%
Dentist $98.89$92.536.9%
Ibuprofen $9.81$9.285.8%
Lipitor $435.08$425.822.2%

Housing

ItemElkhornNational avg.Difference
Home Price $159,700.00$184,700.0013.5%
Avg. Mortgage Payment $860.21$1,202.4428.5%
Apartment Rent $825.00$949.0013.1%

Transportation

ItemElkhornNational avg.Difference
Gasoline $2.27$2.241.2%
Tire Balancing $52.96$46.2914.4%

Utilities

ItemElkhornNational avg.Difference
All Electricity$130.30$165.9621.5%
Phone $23.50$28.6818.1%
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.
Springfield, WI20184-16%
Sharon, WI1,74488-12%
Lake Lorraine, WI29089-11%
Delavan, WI8,41089-11%
Hebron, IL1,28890-10%
Elkhorn, WI9,93192-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Brownsville, TN9,93885-15%
Waldwick, NJ9,92214545%
Essex Junction, VT9,92211919%
Fairfield, IA9,94282-18%
Monmouth, OR9,9191066%
Elkhorn, WI9,93192-8%
Source: The Elkhorn, WI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.