Albert City, IA vs Ely, IA

There is a significant gap in the cost of living between these two cities. Albert City is 25.8% cheaper than Ely. With a cost index of 63 vs 85, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Albert City to Ely should plan for substantially higher expenses across most categories.

On the housing front, median rent in Albert City is $778/month compared to $1,014/month in Ely — a 23% difference. Home values follow the same pattern: Albert City is more affordable at $92,500 median vs $275,800.

Median household income in Albert City is $76,094 compared to $102,262 in Ely (-25.6%). The higher salaries in Ely partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Albert City spend roughly 12.3% of their income on rent, more than the 11.9% in Ely.