Bayard, NE vs Elwood, NE

There is a significant gap in the cost of living between these two cities. Bayard is 15.1% cheaper than Elwood. With a cost index of 57 vs 68, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Bayard to Elwood should plan for substantially higher expenses across most categories.

On the housing front, median rent in Bayard is $553/month compared to $775/month in Elwood — a 29% difference. Home values follow the same pattern: Bayard is more affordable at $107,900 median vs $150,700.

Median household income in Bayard is $61,818 compared to $68,500 in Elwood (-9.8%). The higher salaries in Elwood partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Bayard spend roughly 10.7% of their income on rent, less than the 13.6% in Elwood.

Climate-wise, both cities share similar average temperatures (49.9°F vs 52.2°F). Elwood receives more rainfall at 20.1" per year compared to 15.7" in Bayard.