An Overview of Cost of Living in Green Bay, WI
The cost of living in Green Bay affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Green Bay is 91, which is 9% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
In Green Bay, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Green Bay will resemble that of an average city, contributing to a manageable cost of living.
What Do Locals Say About the Cost of Living in Green Bay?
Nobody knows their city better than the people who actually live there. So, we asked 5 local residents how they would rate the cost of living in Green Bay and this is how they responded. 60% of people said that the cost of living was affordable, with prices decreasing, while 40% of people said that the cost of living was very expensive and prices continue to rise.
Is Green Bay Affordable?
Is Green Bay an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Green Bay, the median home price is 23.1% lower than what most folks pay across the country, and monthly rent prices are 19.1% lower than the usual rates. Income levels in Green Bay come in at $52,214, which is 5.6% lower than the national average.
What Factors can Influence the Cost of Living in Green Bay?
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Green Bay, the transportation index is 1.5% lower than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Green Bay, the utilities index registers at 2.1% lower than the national average.
Where is the Data From?
The Green Bay cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
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