Carter Lake, IA vs Malvern, IA

Malvern is moderately more affordable than Carter Lake, with a 10% lower cost of living index. Carter Lake scores 79 compared to 72 for Malvern, where the US average is 100. This difference means residents of Carter Lake can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Carter Lake is $1,115/month compared to $843/month in Malvern — a 32% difference. Interestingly, home values tell a different story: while Malvern has cheaper rent, Carter Lake actually has lower median home values ($161,200 vs $173,900).

Median household income in Carter Lake is $75,037 compared to $82,027 in Malvern (-8.5%). Malvern 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 12.3% in Malvern.