Algona, IA vs Storm Lake, IA

Algona, IA and Storm Lake, IA have a very similar cost of living, with only a 1.6% difference in their overall index. Algona scores 72 while Storm Lake scores 70 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 $830/month in Storm Lake — a 7% difference. Interestingly, home values tell a different story: while Storm Lake has cheaper rent, Algona actually has lower median home values ($156,200 vs $163,600).

Median household income in Algona is $52,542 compared to $58,341 in Storm Lake (-9.9%). Storm Lake 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 17.1% in Storm Lake.