A-
0%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
12%
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 Watertown Wisconsin National
Cost of living10096100
Goods & Services10697100
Groceries10299100
Health care120112100
Housing8888100
Transportation10198100
Utilities109102100

An Overview of Cost of Living in Watertown, WI

Knowing the cost of living in Watertown 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 Watertown stands at 100, marking it 0% equal to the national average.

The cost of living in Watertown aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Watertown residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Watertown Affordable?

Wondering if Watertown is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Watertown, for example, the median home price is 14.9% lower than what folks pay nationally, and monthly rent is 6.4% lower than the usual rates. Plus, income levels matter too, with Watertown boasting a median household income of $52,440, which is 5.2% lower than the national average.

What Factors can Influence the Cost of Living in Watertown?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Watertown, the standard sales tax rate starts at 5%, and the income tax rates commence at 3.54%.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Watertown, the groceries index is 1.7% higher than the national average.

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 Watertown comes in at 9.2% higher than the national average.

Where is the Data From?

The Watertown 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 Watertown is 5% higher than the Wisconsin average
  • The cost of living in Watertown is equal to the national average
  • Watertown housing is 12% lower 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 Watertown

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Compare Watertown, 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$72,488$6,041$1,691$2,175
      Renters$37,756$3,146$881$1,133
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Watertown, WI, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Watertown, homeowners have a median income of $72,488. Using that number, a maximum of $1,691 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $37,756, which means there is a maximum of $881 to be spent on the costs of renting a home or apartment.

      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 Watertown National avg. Difference
      Haircut $24.26$24.260.0%
      Beauty Salon $66.46$45.5645.9%
      Toothpaste $3.76$3.701.7%
      Shampoo $1.22$1.284.8%
      Movie $12.47$12.132.8%
      Bowling $27.76$18.0054.2%

      Groceries

      Item Watertown National avg. Difference
      Ground Beef $6.27$5.847.4%
      Fried Chicken $1.45$1.578.1%
      Milk $4.79$4.672.5%
      Potatoes $4.20$4.9315.0%
      Pizza $10.96$12.099.3%
      Beer $8.82$10.4115.3%

      Health Care

      Item Watertown National avg. Difference
      Optometrist $70.37$125.6844.0%
      Doctor $222.85$135.7864.1%
      Dentist $122.45$113.298.1%
      Ibuprofen $10.72$10.650.6%
      Lipitor $506.88$468.608.2%

      Housing

      Item Watertown National avg. Difference
      Home Price $157,200.00$184,700.0014.9%
      Avg. Mortgage Payment $2,571.07$2,346.699.6%
      Apartment Rent $888.00$949.006.4%

      Transportation

      Item Watertown National avg. Difference
      Gasoline $3.39$3.462.0%
      Tire Balancing $65.66$59.929.6%

      Utilities

      Item Watertown National avg. Difference
      All Electricity $226.90$193.9917.0%
      Phone $185.25$192.253.6%
      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.
      Lowell, WI234937.4%
      Clyman, WI3529010.5%
      Reeseville, WI719955.1%
      Juneau, WI2,663937.4%
      Neosho, WI637945.7%
      Watertown, WI23,5611000.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Jacksonville Beach, FL23,56212424.1%
      Fish Hawk, FL23,55612525.0%
      Ashland, CA23,56616463.8%
      West Puente Valley, CA23,55514948.7%
      Belton, MO23,568927.9%
      Watertown, WI23,5611000.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.