B
3%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
8%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Holmen Wisconsin National
Cost of living10396100
Goods & Services10397100
Groceries9799100
Health care110112100
Housing10888100
Transportation9998100
Utilities101102100

An Overview of Cost of Living in Holmen, WI

Knowing the cost of living in Holmen allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Holmen stands at 103, marking it 3% higher than the national average.

In Holmen, 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 Holmen will resemble that of an average city, contributing to a manageable cost of living.

Is Holmen Affordable?

Is Holmen affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Holmen, the median home price is 11.6% higher than the national average and monthly rent prices are 1.8% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Holmen boasting a median household income of $69,097, 24.9% higher than the national average.

What Factors can Influence the Cost of Living in Holmen?

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Holmen comes in at 1% higher than the national average.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Holmen, the groceries index is 2.7% lower than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Holmen, the general sales tax rate starts at 5%, and income tax rates begin at 3.54%.

Where is the Data From?

The Holmen 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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Cost Of Living Quick Facts

  • The cost of living in Holmen is 8% higher than the Wisconsin average
  • The cost of living in Holmen is 3% higher than the national average
  • Holmen housing is 8% higher than the national average
  • Wisconsin general sales tax is 2% lower than the national average
  • Wisconsin state income tax is 57% higher than the national average

Most Affordable Places to Live in and Around Holmen

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Compare Holmen, WI Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$88,750$7,396$2,071$2,663
      Renters$39,921$3,327$931$1,198
      A good way to judge both the affordability of the housing and the cost of living in Holmen is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Holmen has a median income of about $88,750 for people who own homes. Based on that number, a maximum of $2,071 should be spent on expenses related to housing. Renters have a slightly different median income, which is $39,921. Based on this average, renters should spend no more than $931 on all rental costs if they want to maintain a non-impoverished standard of living.

      Wisconsin Sales Tax

      State General Sales Tax With Max Surtax
      Wisconsin 5% 6.75%

      Wisconsin Income Tax

      State Income Tax (Low) Income Tax (High)
      Wisconsin 3.54% 7.65%

      Goods & Services

      Item Holmen National avg. Difference
      Haircut $20.83$24.2614.1%
      Beauty Salon $39.17$45.5614.0%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.23$1.283.7%
      Movie $10.00$12.1317.6%
      Bowling $15.67$18.0013.0%

      Groceries

      Item Holmen National avg. Difference
      Ground Beef $5.94$5.841.8%
      Fried Chicken $1.61$1.572.6%
      Milk $4.58$4.672.0%
      Potatoes $4.49$4.939.0%
      Pizza $12.29$12.091.7%
      Beer $8.47$10.4118.6%

      Health Care

      Item Holmen National avg. Difference
      Optometrist $125.00$125.680.5%
      Doctor $179.67$135.7832.3%
      Dentist $107.33$113.295.3%
      Ibuprofen $10.27$10.653.6%
      Lipitor $538.52$468.6014.9%

      Housing

      Item Holmen National avg. Difference
      Home Price $206,100.00$184,700.0011.6%
      Avg. Mortgage Payment $1,958.05$2,346.6916.6%
      Apartment Rent $932.00$949.001.8%

      Transportation

      Item Holmen National avg. Difference
      Gasoline $3.36$3.462.8%
      Tire Balancing $62.89$59.925.0%

      Utilities

      Item Holmen National avg. Difference
      All Electricity $193.62$193.990.2%
      Phone $197.22$192.252.6%
      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 Population Cost of Living Index National Avg.
      Dodge, WI1418713.2%
      Ettrick, WI6459010.1%
      Houston, MN9849010.0%
      Hokah, MN592937.5%
      Melrose, WI474937.0%
      Holmen, WI10,0231033.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Rodeo, CA10,02315453.9%
      Paris, TN10,0218217.9%
      Yarmouth, NS10,021n/a 
      Berlin, NH10,025919.0%
      Westgate, FL10,0271021.6%
      Holmen, WI10,0231033.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.