An Overview of Cost of Living in Menasha, WI
Knowing the cost of living in Menasha 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 Menasha stands at 90, marking it 10% lower than the national average.
What Do Locals Say About the Cost of Living in Menasha?
The real experts on a city are its residents. That's why we reached out to 11 locals to get their views on the cost of living in Menasha. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 45% found it budget-friendly with decreasing prices, while 55% said it's simply not affordable as prices have continued to rise.
Is Menasha Affordable?
Is Menasha 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 Menasha, the median home price is 27.2% lower than the national average and monthly rent prices are 23.9% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Menasha boasting a median household income of $53,800, 2.8% lower than the national average.
What Factors can Influence the Cost of Living in Menasha?
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Menasha, the healthcare costs are 5.5% lower than the national average.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Menasha, the groceries index is 1.7% lower than the national average.
Where is the Data From?
The Menasha cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.
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