New Richmond, WI vs Rochester, WI

New Richmond, WI and Rochester, WI have a very similar cost of living, with only a 2.1% difference in their overall index. New Richmond scores 91 while Rochester scores 89 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 New Richmond is $1,070/month compared to $920/month in Rochester — a 16% difference. Interestingly, home values tell a different story: while Rochester has cheaper rent, New Richmond actually has lower median home values ($269,000 vs $340,900).

Median household income in New Richmond is $87,500 compared to $104,429 in Rochester (-16.2%). Rochester offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New Richmond spend roughly 14.7% of their income on rent, more than the 10.6% in Rochester.