Executive Financial Report: Phelps (54554)
Evaluating relocation options in Vilas? The financial benchmark for residing in Phelps, WI (54554) indicates that a single worker needs roughly $3,100 monthly ($37,195.028 annually) to maintain an adequate standard of living.
With typical rent and housing utilities averaging an affordable $555 per month—just 18% of baseline expenses—Phelps offers exceptionally competitive housing costs compared to wider metropolitan averages across Wisconsin.
Local earnings in Phelps (54554) demonstrate strong purchasing power. The area median family income of $61,062 significantly exceeds the annual baseline living threshold ($37,195.028) by a ratio of 1.64x. This economic buffer allows local households to comfortably absorb inflationary spikes and build long-term wealth.
On the expenditure side, groceries and essential nutrition require approximately $305 per month in Phelps. Direct tax liabilities consume an estimated $479 monthly (15% of total baseline expenses). Factoring local tax structures into annual compensation planning is highly recommended.
Overall, Phelps (54554) presents a distinct economic profile within Vilas. Whether you are relocating for career advancement or evaluating localized living expenses, utilizing our interactive tools below will help you tailor these baseline figures to your exact household composition and salary.