Balsam Lake, WI vs Genoa, WI

There is a significant gap in the cost of living between these two cities. Genoa is 21.8% cheaper than Balsam Lake. With a cost index of 66 vs 81, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Genoa to Balsam Lake should plan for substantially higher expenses across most categories.

On the housing front, median rent in Balsam Lake is $1,063/month compared to $675/month in Genoa — a 58% difference. Home values follow the same pattern: Genoa is more affordable at $170,800 median vs $188,600.

Median household income in Balsam Lake is $48,468 compared to $65,000 in Genoa (-25.4%). Genoa offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Balsam Lake spend roughly 26.3% of their income on rent, more than the 12.5% in Genoa.