F
27%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
87%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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.
Index Whitefish Bay Wisconsin National
Cost of living12796100
Goods & Services9997100
Groceries10399100
Health care111112100
Housing18788100
Transportation9998100
Utilities105102100

An Overview of Cost of Living in Whitefish Bay, WI

Getting a feel for the cost of living in Whitefish Bay is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Whitefish Bay is 127, which is 27% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you prioritize affordability when seeking a new place to live, Whitefish Bay may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Whitefish Bay falls into this category, which may not align with your preferences for a budget-friendly living environment.

When it comes to the cost of living in Whitefish Bay, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 87% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Whitefish Bay Affordable?

Is Whitefish Bay 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 Whitefish Bay, the median home price is 112.9% higher than the national average and monthly rent prices are 26.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Whitefish Bay boasting a median household income of $129,331, 133.8% higher than the national average.

What Factors can Influence the Cost of Living in Whitefish Bay?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Whitefish Bay, the standard sales tax rate starts at 5%, and the income tax rates commence at 3.54%.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Whitefish Bay, the housing index comes in at 87% higher than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The Whitefish Bay cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Whitefish Bay is 32% higher than the Wisconsin average
  • The cost of living in Whitefish Bay is 27% higher than the national average
  • Whitefish Bay housing is 87% higher than the national average
  • Wisconsin general sales tax is 2% lower than the national average
  • Wisconsin state income tax is 36% higher than the national average

Most Affordable Places to Live in and Around Whitefish Bay

See all the best places to live around Whitefish Bay

Compare Whitefish Bay, WI Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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 Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$151,638$12,637$3,538$4,550
      Renters$57,159$4,763$1,334$1,715
      A good indicator of the general affordability of housing in Whitefish Bay, WI, 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 Whitefish Bay, the median monthly income is $151,638 for those who own their own homes. Under the standard rule, that income level would allow for $3,538 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $57,159, per the median income in the area. That would allow for renters to spend up to $1,334 on monthly rental expenses.

      Wisconsin Sales Tax

      State General Sales Tax With Max Surtax
      Wisconsin 5% 6.75%

      Wisconsin Income Tax

      State Income Tax (Low) Income Tax (High)
      Wisconsin 3.54% 7.65%

      Goods & Services

      Item Whitefish Bay National avg. Difference
      Haircut $20.21$24.2616.7%
      Beauty Salon $33.25$45.5627.0%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.07$1.2816.6%
      Movie $10.26$12.1315.5%
      Bowling $10.03$18.0044.3%

      Groceries

      Item Whitefish Bay National avg. Difference
      Ground Beef $6.05$5.843.5%
      Fried Chicken $1.46$1.577.3%
      Milk $4.55$4.672.7%
      Potatoes $4.10$4.9317.0%
      Pizza $11.33$12.096.3%
      Beer $8.52$10.4118.2%

      Health Care

      Item Whitefish Bay National avg. Difference
      Optometrist $278.65$125.68121.7%
      Doctor $223.73$135.7864.8%
      Dentist $106.79$113.295.7%
      Ibuprofen $10.29$10.653.4%
      Lipitor $469.65$468.600.2%

      Housing

      Item Whitefish Bay National avg. Difference
      Home Price $393,300.00$184,700.00112.9%
      Avg. Mortgage Payment $1,879.64$2,346.6919.9%
      Apartment Rent $1,199.00$949.0026.3%

      Transportation

      Item Whitefish Bay National avg. Difference
      Gasoline $3.30$3.464.5%
      Tire Balancing $44.14$59.9226.3%

      Utilities

      Item Whitefish Bay National avg. Difference
      All Electricity $182.69$193.995.8%
      Phone $185.79$192.253.4%
      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 Population Cost of Living Index National Avg.
      Milwaukee, WI592,649936.5%
      West Milwaukee, WI4,128945.7%
      West Allis, WI59,861964.4%
      Lannon, WI1,184964.2%
      St. Francis, WI9,600964.1%
      Whitefish Bay, WI13,89012726.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      The Nation / La Nation, ON13,890n/a 
      Lacombe, AB13,889n/a 
      Brandermill, VA13,88711414.0%
      Chesterton, IN13,8841054.6%
      Collingswood, NJ13,88211414.0%
      Whitefish Bay, WI13,89012726.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.