New Richmond, WI vs Watertown, WI

Watertown is moderately more affordable than New Richmond, with a 10.4% lower cost of living index. New Richmond scores 91 compared to 82 for Watertown, where the US average is 100. This difference means residents of New Richmond can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in New Richmond is $1,070/month compared to $1,061/month in Watertown — a 1% difference. Home values follow the same pattern: Watertown is more affordable at $211,500 median vs $269,000.

Median household income in New Richmond is $87,500 compared to $68,333 in Watertown (+28%). While New Richmond is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of New Richmond spend roughly 14.7% of their income on rent, less than the 18.6% in Watertown.