METRO MILWAUKEE COST OF LIVING

How Does It Compare?

Metro Milwaukee's cost of living is right at the national average, with a Q1 2024 index of 100.2 – measuring differences between areas in the costs of consumer goods and services for a mid-management standard of living. It is based on 57 items, for which prices are collected quarterly by each participating urban area. This puts Milwaukee in a sweet spot of affordability compared to coastal cities while maintaining a high quality of life.

Composite Cost of Living Index (Q1 2024)

KEY INSIGHTS

Milwaukee offers a balanced cost profile with some categories below the national average:

Transportation costs are 7% below average
Miscellaneous goods & services are 2% below average

Other categories rank slightly above average:

Housing at 103.5
Utilities at 101.2
Grocery items at 101.0
Health care at 108.1

Why Milwaukee Offers Value

For families and professionals considering relocation, Milwaukee presents several advantages:

Balanced cost profile: Milwaukee's overall cost index sits precisely at the national average
Midwestern affordability: Significantly more affordable than coastal cities
Housing value: Housing costs only 3.5% above national average
Transportation savings: Transportation costs 7% below average

REGIONAL CONTEXT

When compared to nearby urban centers, Milwaukee presents an attractive value proposition:

Similar Costs

Housing Perspective

Milwaukee's housing costs (103.5) are significantly more affordable than coastal cities:

80% lower than Manhattan (511.5)
56% lower than Los Angeles (233.3)
32% lower than Miami (153.3)

Housing Cost of Living Index (Q1 2024)

Understanding the Index

The Cost of Living Index measures regional differences in consumer goods and services prices based on 57 items collected quarterly across participating urban areas. It represents a midmanagement standard of living, excluding taxes and non-consumer expenditures.

Looking Forward: While this data represents Q1 2024, the Cost of Living Index is updated quarterly. For the most current information, visit the Council for Community & Economic Research at www.c2er.org.