Cost of Living in New Richmond, WI
Population 10,334 · Wisconsin · Data vintage 2023
(100 = US avg)
New Richmond is a smaller Wisconsin community of around 10000 residents, where median household incomes of $87,500 and housing costs ($269,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. The labor market has been unusually tight, with unemployment around 1.7% — below most comparable cities in the state.
Geographically, New Richmond is about 30 miles east of St. Paul, the nearest large metro. Housing prices track closely with St. Paul's $280,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in New Richmond
The median home value in New Richmond is $269,000 — 12% below the national median of $305,000. Median rent runs $1,070/month, 19% lower than the national median of $1,314/month. The median household income of $87,500/year is 17% higher than the US median of $74,580. The local unemployment rate is 1.7%, below the national average of 4.8%. Wisconsin's top state income tax rate is 7.7% and the combined sales tax is 5.4%. Overall, New Richmond has a cost of living index of 85 versus the US average of 100, meaning it is 15% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in New Richmond, WI?
New Richmond has a cost index of 85 (100 = national average). It is 15% below the national average.
What is average rent in New Richmond, WI?
The median gross rent in New Richmond is $1,070 per month based on 2023 Census data.
What is the average home price in New Richmond?
The median home value in New Richmond is $269,000 according to Zillow and Census data.
What is the median income in New Richmond?
The median household income in New Richmond is $87,500 per year (2023 ACS 5-year estimates).
What is the sales tax in New Richmond, WI?
The combined state and local sales tax rate in New Richmond is 5.4%. The Wisconsin state income tax top rate is 7.7%.
Is New Richmond, WI affordable?
Yes, New Richmond is generally considered affordable, with a cost of living index of 85 — about 15% below the US national average of 100.
New Richmond at a Glance
- Population
- 10,334
- Median Income
- $87,500
- Home Value
- $269,000
- Median Rent
- $1,070/mo
- Unemployment
- 1.7%
- Sales Tax
- 5.4%
Nearby Cities
Explore county-level cost of living data
Wisconsin Rankings
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