Elk Mound, WI vs Fairwater, WI

Elk Mound, WI and Fairwater, WI have a very similar cost of living, with only a 3.9% difference in their overall index. Elk Mound scores 74 while Fairwater scores 77 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Elk Mound is $984/month compared to $1,100/month in Fairwater — a 11% difference. Interestingly, home values tell a different story: while Elk Mound has cheaper rent, Fairwater actually has lower median home values ($130,200 vs $142,500).

Median household income in Elk Mound is $62,167 compared to $81,667 in Fairwater (-23.9%). While Fairwater is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elk Mound spend roughly 19% of their income on rent, more than the 16.2% in Fairwater.