Algona, IA vs Spencer, IA

Algona, IA and Spencer, IA have a very similar cost of living, with only a 1.4% difference in their overall index. Algona scores 72 while Spencer scores 71 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Algona is $887/month compared to $795/month in Spencer — a 12% difference. Interestingly, home values tell a different story: while Spencer has cheaper rent, Algona actually has lower median home values ($156,200 vs $178,300).

Median household income in Algona is $52,542 compared to $57,068 in Spencer (-7.9%). Spencer offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Algona spend roughly 20.3% of their income on rent, more than the 16.7% in Spencer.