Cost of Living in Wales, WI

With a cost of living index of 110, Wales, WI is somewhat more expensive than average. Living here is 10% more expensive than the national average and 30% above the Wisconsin state average of 79. Wales is a small community of 2,915 residents.

Housing costs are the biggest factor in Wales's cost of living. The median monthly rent is $1,473 (12% above the US median of $1,319), and the median home value sits at $383,600 (26% above 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 Wales is $110,804, which is 47% higher 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.

Everyday prices in the Milwaukee-Waukesha, WI (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.