River Falls, WI

Below Avg · 85

Wisconsin · Population 16,349 · Updated March 2026

$1,050
Median Rent / Month
$78,078
Median Income
$299,800
Median Home Value
$1,251
Owner Costs / Month

Affordability

How far your income goes in River Falls

16.1%
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

$12,600
Annual Rent
$5,973
State Income Tax
$4,827
Property Tax (est.)

Cost of Living Overview

River Falls offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 85 (where 100 equals the national median), River Falls residents can expect to pay median rent of $1,050/month while earning a median household income of $78,078/year.

The median home value in River Falls, WI is $299,800, with typical monthly owner costs around $1,251 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.1% 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 River Falls.

Frequently Asked Questions

Common questions about living costs in River Falls

What is the cost of living in River Falls, WI?
The cost of living index in River Falls, WI is 85 (US average = 100). Median monthly rent is $1,050, median household income is $78,078/year, and the median home value is $299,800.
Is River Falls, WI affordable?
Yes, River Falls is more affordable than the national average with a cost index of 85. The rent-to-income ratio is 16.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in River Falls, WI?
The median gross rent in River Falls, WI is $1,050 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,600.
What is the median household income in River Falls?
The median household income in River Falls, WI is $78,078 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%.