Beardstown, IL vs Elwood, IL

There is a significant gap in the cost of living between these two cities. Beardstown is 24.5% cheaper than Elwood. With a cost index of 64 vs 84, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Beardstown to Elwood should plan for substantially higher expenses across most categories.

On the housing front, median rent in Beardstown is $769/month compared to $986/month in Elwood — a 22% difference. Home values follow the same pattern: Beardstown is more affordable at $80,800 median vs $224,900.

Median household income in Beardstown is $58,765 compared to $73,640 in Elwood (-20.2%). The higher salaries in Elwood partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Beardstown spend roughly 15.7% of their income on rent, less than the 16.1% in Elwood.