Addison, NY vs Wells, NY

There is a significant gap in the cost of living between these two cities. Addison is 16.5% cheaper than Wells. With a cost index of 67 vs 80, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Addison to Wells should plan for substantially higher expenses across most categories.

On the housing front, median rent in Addison is $770/month compared to $763/month in Wells — a 1% difference. Interestingly, home values tell a different story: while Wells has cheaper rent, Addison actually has lower median home values ($89,600 vs $252,900).

Median household income in Addison is $53,512 compared to $78,047 in Wells (-31.4%). While Wells is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Addison spend roughly 17.3% of their income on rent, more than the 11.7% in Wells.