Carter Lake, IA vs Earlham, IA

Carter Lake, IA and Earlham, IA have a very similar cost of living, with only a 3.9% difference in their overall index. Carter Lake scores 79 while Earlham scores 76 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 Carter Lake is $1,115/month compared to $779/month in Earlham — a 43% difference. Interestingly, home values tell a different story: while Earlham has cheaper rent, Carter Lake actually has lower median home values ($161,200 vs $248,400).

Median household income in Carter Lake is $75,037 compared to $104,464 in Earlham (-28.2%). Earlham offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Carter Lake spend roughly 17.8% of their income on rent, more than the 8.9% in Earlham.