Cost of Living in Rib Lake, WI

With a cost of living index of 63, Rib Lake, WI is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 17% below the Wisconsin state average of 79. Rib Lake is a small community of 878 residents.

Housing costs are the biggest factor in Rib Lake's cost of living. The median monthly rent is $707 (46% below the US median of $1,319), and the median home value sits at $99,300 (67% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Rib Lake is $55,813, which is 26% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.