States › Wisconsin › New Richmond

Is New Richmond, WI expensive to live in?

OKRent takes 22 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,747same as U.S. average
💵 Families earn per year (2026)$95,077about $7,923/month · 9% higher than U.S. average
🔑 House price$285,10014% lower than U.S. average

Rent is higher than in 54% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $69,880 a year. That is $34 an hour at a full-time job.

Is rent cheaper than other Wisconsin cities?

No. Rent here is more expensive than in most of Wisconsin. It is number 128 of 156 cities from cheapest to most expensive.

New Richmond
$1,747
Monroe
$901
Hobart
$1,432
Lisbon
$1,516
Portage
$1,274
Elkhorn
$1,144
Reedsburg
$1,101

How much do households earn in New Richmond?

Under $25k
11.0%
$25k–50k
16.0%
$50k–100k
41.2%
$100k–150k
21.9%
$150k+
8.0%

Share of households by yearly income. 29.9% of households earn $100,000 or more.

Rent by apartment size in New Richmond

SizeNew RichmondU.S. average
1 bedroom$1,521$1,324
2 bedrooms$1,181$1,509
3 bedrooms$2,007$1,698
4 bedrooms$1,858$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is New Richmond overall?

Everyday prices in Wisconsin overall are 6% below the U.S. average (index 94.1, U.S. = 100).

Housing
79
Goods (food, clothes…)
94
Utilities
90
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for New Richmond, so the Wisconsin figure is shown.

Taxes and bills in New Richmond

🏛️ Property tax$3,972a year · 1.39% of home value · U.S. $3,119
⚡ Electric bill$127a month (typical) · U.S. $156

Life in New Richmond

Commute to work25.1 minU.S.: 26.4 min
College degree34.2%U.S.: 35.7%
Own their home62.1%U.S.: 65.2%
Below poverty line10.5%U.S.: 12.5%
Unemployment2.9%U.S.: 5.2%

Is it cheaper to rent or buy in New Richmond?

Renting is cheaper right now: about $231 a month less.

Renting
$1,747
Owning
$1,978

Owning assumes a typical $285,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $28,510 for the down payment.

Frequently asked questions

What is the average rent in New Richmond, WI?

Renting in New Richmond costs a median of about $1,747 a month in 2026, including utilities. The Wisconsin median is $1,305.

How much do I need to make to live in New Richmond?

To keep rent under 30% of income, you need about $69,880 a year, or $34 an hour at a full-time job.

Is New Richmond cheap or expensive?

New Richmond is rated OK: rent takes 22.0% of the typical household income of $95,077. It ranks 128th cheapest of 156 Wisconsin cities we track.

How much are property taxes in New Richmond?

The median homeowner in New Richmond pays $3,972 a year in property taxes, about 1.39% of the median home value.

Is New Richmond more expensive than the national average?

Overall prices in Wisconsin are 6% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in New Richmond?

The median home value in New Richmond is $285,100, about 3.0 times the typical yearly household income.

10,539 people live in New Richmond. Numbers are typical (middle) values.