An Overview of Cost of Living in Wausau, WI
Are you thinking about relocating, but curious about the potential cost of living in Wausau? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Wausau stands at 84, making it 16% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Wausau, these goods and services come in at 17.4% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.
What Do Locals Say About the Cost of Living in Wausau?
When it comes to knowing a city, its residents are the experts. We conducted a survey with 6 locals to understand their opinions on the cost of living in Wausau. The results indicated that 50% found it reasonably priced with decreasing prices of goods and services, while 50% viewed it as quite expensive, with increasing prices.
Is Wausau Affordable?
Is Wausau 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 Wausau, the median home price is 34.4% lower than the national average and monthly rent prices are 19.2% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Wausau boasting a median household income of $47,438, 14.3% lower than the national average.
What Factors can Influence the Cost of Living in Wausau?
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Wausau, the utilities index stands at 4.8% lower than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Wausau, the transportation index is 10.9% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Wausau, healthcare costs are 25.1% higher than the national average.
Where is the Data From?
The Wausau 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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