| Index | Richfield | Wisconsin | National |
| Cost of living | 118 | 96 | 100 |
| Groceries | 101 | 99 | 100 |
| Health care | 96 | 98 | 100 |
| Housing | 165 | 89 | 100 |
| Transportation | 95 | 98 | 100 |
| Utilities | 102 | 101 | 100 |
| Lifestyle & Entertainment | 94 | 98 | 100 |
| Household Items | 99 | 99 | 100 |
| Education & Childcare | 100 | 98 | 100 |
Knowing the cost of living in Richfield 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 Richfield stands at 118, marking it 18% higher than the national average.
Housing costs significantly influence the Richfield cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 64.8%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Wondering if Richfield 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 Richfield, for example, the median home price is 85.7% higher than what folks pay nationally, and monthly rent is 16.3% higher than the usual rates. Plus, income levels matter too, with Richfield boasting a median household income of $171,342, which is 110.7% higher than the national average.
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 Richfield, the utilities index registers at 1.9% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Richfield, the groceries index is 0.5% higher than the national average.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
The Richfield cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $170,604 | $14,217 | $3,980 | $5,119 |
| Renters | $99,780 | $8,315 | $2,328 | $2,994 |
| State | General Sales Tax | With Max Surtax |
| Wisconsin | 5% | 6.75% |
| State | Income Tax (Low) | Income Tax (High) |
| Wisconsin | 3.54% | 7.65% |
| City | Population | Cost of Living Index | National Avg. |
| Milwaukee, WI | 605,531 | 93 | 7.2% |
| Lannon, WI | 1,221 | 94 | 6.0% |
| Butler, WI | 2,034 | 95 | 4.6% |
| Allenton, WI | 777 | 97 | 3.0% |
| Brown Deer, WI | 12,298 | 98 | 2.4% |
| Richfield, WI | 12,159 | 118 | 18.2% |
| City | Population | Cost of Living Index | National Avg. |
| Stony Brook, NY | 12,162 | 152 | 52.2% |
| South Lyon, MI | 12,155 | 102 | 1.8% |
| Glen Rock, NJ | 12,170 | 173 | 72.9% |
| Wanaque, NJ | 12,174 | 133 | 32.8% |
| Salem, OH | 12,141 | 84 | 15.6% |
| Richfield, WI | 12,159 | 118 | 18.2% |
Here are the best places to live in Wisconsin
See the best places to live in Richfield
Check out the 10 most dangerous cities in Wisconsin
Most Dangerous States In The US