Richfield, WI

Above Avg · 124

Wisconsin · Population 11,806 · Updated March 2026

$1,460
Median Rent / Month
$135,774
Median Income
$456,500
Median Home Value
$1,814
Owner Costs / Month

Affordability

How far your income goes in Richfield

12.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Wisconsin

State-level tax rates that affect your costs

7.65%
Income Tax (Top Rate)
5.0%
Sales Tax
1.61%
Property Tax Rate

Estimated Annual Costs

$17,520
Annual Rent
$10,387
State Income Tax
$7,350
Property Tax (est.)

Cost of Living Overview

Richfield has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 124 (where 100 equals the national median), Richfield residents can expect to pay median rent of $1,460/month while earning a median household income of $135,774/year.

The median home value in Richfield, WI is $456,500, with typical monthly owner costs around $1,814 including mortgage, insurance, and taxes. The median rent-to-income ratio of 12.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Wisconsin has a moderate income tax rate of 7.65%. Combined with a 5.0% sales tax rate and 1.61% effective property tax rate, the overall tax environment is a factor in the total cost of living in Richfield.

Frequently Asked Questions

Common questions about living costs in Richfield

What is the cost of living in Richfield, WI?
The cost of living index in Richfield, WI is 124 (US average = 100). Median monthly rent is $1,460, median household income is $135,774/year, and the median home value is $456,500.
Is Richfield, WI affordable?
No, Richfield is more expensive than the national average with a cost index of 124. The rent-to-income ratio is 12.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Richfield, WI?
The median gross rent in Richfield, WI is $1,460 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,520.
What is the median household income in Richfield?
The median household income in Richfield, WI is $135,774 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Wisconsin?
Wisconsin has a top income tax rate of 7.65%, a sales tax of 5.0%, and an effective property tax rate of 1.61%.