Prescott cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexPrescottWisconsinNational
Cost of living index9996100
IndexPrescottWisconsinNational
Goods & Services index10797100
Groceries index10597100
Health care index106114100
Housing index8888100
Transportation index105100100
Utilities index90102100
Here we can see a simple outline of the cost of living in Prescott, WI. As you can see, with the average cost of living in Prescott, WI being 99, that puts it 3% higher than the average of Wisconsin and 1% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Prescott, WI, the price of goods and services are 10% higher than the average of Wisconsin as well as 7% higher than the nation's average.

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Did you know?

  • The cost of living in Prescott is 3% higher than the Wisconsin average.
  • The cost of living in Prescott is 1% lower than the national average.
  • The cost of housing in Prescott is 12% lower than the national average.
  • Wisconsin general sales tax is 2% lower than the national average.
  • Wisconsin state income tax is 80% higher than the national average.

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Compare Prescott, WI Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
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Use the salary calculator to compare your current income in Prescott, WI to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Prescott, WI, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Prescott, WI salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$82,300$6,858$1,920$2,469
Renters$20,605$1,717$481$618
If you want to find a good determining factor for the cost of living and the general affordability of housing in Prescott, WI, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Prescott, WI, the median monthly income is $82,300 for those who own their own homes. Under the standard rule, that income level would allow for $1,920 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $20,605, per the median income in the area. That would allow for renters to spend up to $481 on monthly rental expenses.

Wisconsin Sales Tax

StateGeneral Sales TaxWith Max Surtax
Wisconsin5%6.75%

Wisconsin Income Tax

StateIncome Tax (Low)Income Tax (High)
Wisconsin4%7.65%
One thing to keep in mind when considering the cost of living in Prescott, WI is the Wisconsin sales tax and Wisconsin income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Wisconsin sales tax rate is 5% and the maximum surtax that can be charged is 6.75%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Wisconsin income tax rates range from 4% to 7.65%.

Goods & Services

ItemPrescottNational avg.Difference
Haircut $22.35$16.0939.0%
Beauty Salon $35.96$37.333.7%
Toothpaste $3.33$2.4535.9%
Shampoo $1.07$1.006.9%
Movie $10.02$10.282.5%
Bowling $3.95$4.9319.8%

Groceries

ItemPrescottNational avg.Difference
Ground Beef $4.16$3.809.5%
Fried Chicken $1.97$1.4041.3%
Milk $2.22$2.0110.4%
Potatoes $3.33$3.0110.5%
Pizza $11.55$9.8916.8%
Beer $8.97$8.900.8%

Health Care

ItemPrescottNational avg.Difference
Optometrist $85.02$102.1616.8%
Doctor $135.93$108.3625.4%
Dentist $84.21$92.539.0%
Ibuprofen $11.98$9.2829.1%
Lipitor $423.18$425.820.6%

Housing

ItemPrescottNational avg.Difference
Home Price $183,500.00$184,700.000.6%
Avg. Mortgage Payment $1,261.54$1,202.444.9%
Apartment Rent $591.00$949.0037.7%

Transportation

ItemPrescottNational avg.Difference
Gasoline $2.23$2.240.5%
Tire Balancing $53.80$46.2916.2%

Utilities

ItemPrescottNational avg.Difference
All Electricity$153.14$165.967.7%
Phone $24.99$28.6812.9%
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, StatePopulationCost of Living IndexNational Avg.
Landfall, MN79375-25%
Red Wing, MN16,48498-2%
Hager City, WI25899-1%
South St. Paul, MN20,28199-1%
St. Paul Park, MN5,3521000%
Prescott, WI4,21799-1%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Verdigris, OK4,21797-3%
Prairie du Sac, WI4,2181066%
Ipswich, MA4,21513838%
Herricks, NY4,21519393%
Chariton, IA4,21978-22%
Prescott, WI4,21799-1%
Source: The Prescott, WI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.