Cost of Living in Elkhorn, WI

With a cost of living index of 84, Elkhorn, WI is a very affordable place to live. Living here is 16% cheaper than the national average and 5% above the Wisconsin state average of 79. Elkhorn is a smaller community of 10,259 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Elkhorn's cost of living. The median monthly rent is $999 (24% below the US median of $1,319), and the median home value sits at $255,300 (16% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Elkhorn is $73,052, which is 3% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.