Elkhorn, WI vs Watertown, WI

Elkhorn, WI and Watertown, WI have a very similar cost of living, with only a 2.1% difference in their overall index. Elkhorn scores 84 while Watertown scores 82 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 Elkhorn is $999/month compared to $1,061/month in Watertown — a 6% difference. Interestingly, home values tell a different story: while Elkhorn has cheaper rent, Watertown actually has lower median home values ($211,500 vs $255,300).

Median household income in Elkhorn is $73,052 compared to $68,333 in Watertown (+6.9%). While Elkhorn is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elkhorn spend roughly 16.4% of their income on rent, less than the 18.6% in Watertown.