Shorewood 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.
IndexShorewoodWisconsinNational
Cost of living index11196100
IndexShorewoodWisconsinNational
Goods & Services index9398100
Groceries index9397100
Health care index114113100
Housing index14688100
Transportation index102100100
Utilities index9497100
An overview of the general cost of living index for Shorewood, WI is displayed above for your reference. Residents in Shorewood, WI enjoy a cost of living index of 111. This index is 15% higher than the Wisconsin average, and 11% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Shorewood, WI, the average cost of goods and services is 6% lower than it is in Wisconsin, and it is 7% lower than the national average.
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Did you know?

  • The cost of living in Shorewood is 15% higher than the Wisconsin average.
  • The cost of living in Shorewood is 11% higher than the national average.
  • The cost of housing in Shorewood is 46% higher 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.

Compare Shorewood, WI Cost of living To Other Cities

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      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Use the salary calculator to compare your current income in Shorewood, 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 Shorewood, WI, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Shorewood, 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$113,083$9,424$2,638$3,393
      Renters$40,731$3,394$950$1,222
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Shorewood, WI as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Shorewood, WI homeowners, is $113,083. This would allow for a maximum of $2,638 per month to be spent on housing costs. For renters, the median monthly income is $40,731 which would result in a maximum of $950 to be spent on rental costs.

      Wisconsin Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Wisconsin5%6.75%

      Wisconsin Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Wisconsin4%7.65%
      When assessing the complete cost of living in Shorewood, WI, the Wisconsin income tax and the Wisconsin sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Wisconsin maximum surtax is 6.75%, and the Wisconsin sales tax is 5%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4% to 7.65% in Wisconsin.

      Goods & Services

      ItemShorewoodNational avg.Difference
      Haircut $20.43$17.4916.8%
      Beauty Salon $38.60$38.171.1%
      Toothpaste $1.92$2.3217.3%
      Shampoo $0.99$1.012.2%
      Movie $11.04$10.722.9%
      Bowling $16.00$13.8615.4%

      Groceries

      ItemShorewoodNational avg.Difference
      Ground Beef $3.66$3.906.2%
      Fried Chicken $1.32$1.405.4%
      Milk $1.71$1.9612.9%
      Potatoes $2.58$3.1818.9%
      Pizza $9.99$10.393.9%
      Beer $8.07$9.2312.6%

      Health Care

      ItemShorewoodNational avg.Difference
      Optometrist $53.00$106.3450.2%
      Doctor $183.67$115.2559.4%
      Dentist $102.20$98.383.9%
      Ibuprofen $8.72$9.265.8%
      Lipitor $494.39$466.476.0%

      Housing

      ItemShorewoodNational avg.Difference
      Home Price $308,600.00$184,700.0067.1%
      Avg. Mortgage Payment $1,249.28$1,273.321.9%
      Apartment Rent $909.00$949.004.2%

      Transportation

      ItemShorewoodNational avg.Difference
      Gasoline $2.78$2.597.2%
      Tire Balancing $47.04$48.903.8%

      Utilities

      ItemShorewoodNational avg.Difference
      All Electricity$153.62$167.608.3%
      Phone $177.30$163.428.5%
      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.
      Milwaukee, WI598,67288-12%
      West Milwaukee, WI4,21489-11%
      West Allis, WI60,54390-10%
      St. Francis, WI9,51690-10%
      Cudahy, WI18,32191-9%
      Shorewood, WI13,30011111%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Warrensville Heights, OH13,29388-12%
      Spring Creek, NV13,3101011%
      Fergus Falls, MN13,31089-11%
      Solana Beach, CA13,312217117%
      Destin, FL13,31211414%
      Shorewood, WI13,30011111%
      Source: The Shorewood, WI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.