Balsam Lake, WI vs Cumberland, WI

Cumberland is moderately more affordable than Balsam Lake, with a 8.2% lower cost of living index. Balsam Lake scores 81 compared to 75 for Cumberland, where the US average is 100. This difference means residents of Balsam Lake can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Balsam Lake is $1,063/month compared to $901/month in Cumberland — a 18% difference. Home values follow the same pattern: Cumberland is more affordable at $173,900 median vs $188,600.

Median household income in Balsam Lake is $48,468 compared to $47,773 in Cumberland (+1.5%). Balsam Lake does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Balsam Lake spend roughly 26.3% of their income on rent, more than the 22.6% in Cumberland.