F
Overall 11%
Goods & Services 7%
Housing 46%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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.
IndexShorewoodWisconsinNational
Cost of living11196100
Goods & Services9398100
Groceries9397100
Health care114113100
Housing14688100
Transportation102100100
Utilities9497100

Key findings

  • 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
  • Shorewood housing is 46% higher than the national average
  • Wisconsin general sales tax is 2% lower than the national average
  • Wisconsin state income tax is 62% higher than the national average

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Compare Shorewood, WI Cost of Living

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      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 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 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%

      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.