Beloit, WI vs Oconomowoc, WI

There is a significant gap in the cost of living between these two cities. Beloit is 27.8% cheaper than Oconomowoc. With a cost index of 73 vs 101, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Beloit to Oconomowoc should plan for substantially higher expenses across most categories.

On the housing front, median rent in Beloit is $989/month compared to $1,235/month in Oconomowoc — a 20% difference. Home values follow the same pattern: Beloit is more affordable at $133,500 median vs $367,700.

Median household income in Beloit is $59,975 compared to $105,833 in Oconomowoc (-43.3%). While Oconomowoc is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Beloit spend roughly 19.8% of their income on rent, more than the 14% in Oconomowoc.