Carter Lake, IA vs Walnut, IA

There is a significant gap in the cost of living between these two cities. Walnut is 20.3% cheaper than Carter Lake. With a cost index of 66 vs 79, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Walnut to Carter Lake should plan for substantially higher expenses across most categories.

On the housing front, median rent in Carter Lake is $1,115/month compared to $844/month in Walnut — a 32% difference. Home values follow the same pattern: Walnut is more affordable at $97,900 median vs $161,200.

Median household income in Carter Lake is $75,037 compared to $65,278 in Walnut (+14.9%). The higher salaries in Carter Lake partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Carter Lake spend roughly 17.8% of their income on rent, more than the 15.5% in Walnut.