A+
9%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
15%
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 Janesville Wisconsin National
Cost of living9196100
Goods & Services8997100
Groceries9799100
Health care101112100
Housing8588100
Transportation11098100
Utilities87102100

An Overview of Cost of Living in Janesville, WI

Knowing the cost of living in Janesville 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 Janesville stands at 91, marking it 9% lower than the national average.

The cost of living in Janesville 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. Janesville 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.

Everyday items like clothes, personal care products and fun activities all add up to what it costs to live. The thing is, in Janesville, these goods and services are 11.1% cheaper than what people pay on average across the country. That means you can enjoy what you need and like without going broke. With these savings, you can stash more cash in your savings or use it for other money goals, which can really boost your financial health.

Is Janesville Affordable?

Is Janesville 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 Janesville, the median home price is 18% lower than the national average and monthly rent prices are 7.9% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Janesville boasting a median household income of $55,914, 1.1% higher than the national average.

What Factors can Influence the Cost of Living in Janesville?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable 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 Janesville, the utilities index registers at 13.5% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Janesville, healthcare costs are 0.6% higher than the national average.

Where is the Data From?

The cost of living in Janesville, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Janesville is 5% lower than the Wisconsin average
  • The cost of living in Janesville is 9% lower than the national average
  • Janesville housing is 15% 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 Janesville

See all the best places to live around Janesville

Compare Janesville, 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$70,392$5,866$1,642$2,112
      Renters$37,731$3,144$880$1,132
      The affordability of the housing market in Janesville, WI as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Janesville homeowners, the median income is $70,392. This indicates that a monthly maximum of $1,642 should be spent by homeowners on all housing related costs. Renters have a median income of $37,731. This indicates that renters would have a maximum of $880 for their rent related monthly costs.

      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 Janesville National avg. Difference
      Haircut $19.94$24.2617.8%
      Beauty Salon $36.22$45.5620.5%
      Toothpaste $3.58$3.703.2%
      Shampoo $1.27$1.281.1%
      Movie $12.73$12.134.9%
      Bowling $12.67$18.0029.6%

      Groceries

      Item Janesville National avg. Difference
      Ground Beef $5.72$5.842.0%
      Fried Chicken $1.42$1.579.9%
      Milk $4.63$4.670.9%
      Potatoes $4.82$4.932.3%
      Pizza $10.99$12.099.1%
      Beer $9.56$10.418.2%

      Health Care

      Item Janesville National avg. Difference
      Optometrist $79.67$125.6836.6%
      Doctor $158.33$135.7816.6%
      Dentist $110.16$113.292.8%
      Ibuprofen $10.57$10.650.8%
      Lipitor $460.30$468.601.8%

      Housing

      Item Janesville National avg. Difference
      Home Price $151,400.00$184,700.0018.0%
      Avg. Mortgage Payment $1,465.09$2,346.6937.6%
      Apartment Rent $874.00$949.007.9%

      Transportation

      Item Janesville National avg. Difference
      Gasoline $3.69$3.466.7%
      Tire Balancing $70.28$59.9217.3%

      Utilities

      Item Janesville National avg. Difference
      All Electricity $147.39$193.9924.0%
      Phone $198.03$192.253.0%
      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.
      Hanover, WI1198218.3%
      Beloit, WI36,8048415.7%
      Footville, WI1,0188613.9%
      South Beloit, IL7,7308713.2%
      Clinton, WI1,9948910.5%
      Janesville, WI64,415918.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Noblesville, IN64,4301044.2%
      Castro Valley, CA64,39219594.9%
      Eden Prairie, MN64,48112423.7%
      Port Charlotte, FL64,3351022.0%
      Tulare, CA64,54611716.7%
      Janesville, WI64,415918.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.