Algona, IA vs Ely, IA

There is a significant gap in the cost of living between these two cities. Algona is 15.7% cheaper than Ely. With a cost index of 72 vs 85, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Algona to Ely should plan for substantially higher expenses across most categories.

On the housing front, median rent in Algona is $887/month compared to $1,014/month in Ely — a 13% difference. Home values follow the same pattern: Algona is more affordable at $156,200 median vs $275,800.

Median household income in Algona is $52,542 compared to $102,262 in Ely (-48.6%). While Ely is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Algona spend roughly 20.3% of their income on rent, more than the 11.9% in Ely.