Carter Lake, IA vs Waverly, IA

Carter Lake, IA and Waverly, IA have a very similar cost of living, with only a 4.5% difference in their overall index. Carter Lake scores 79 while Waverly 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 $909/month in Waverly — a 23% difference. Interestingly, home values tell a different story: while Waverly has cheaper rent, Carter Lake actually has lower median home values ($161,200 vs $215,200).

Median household income in Carter Lake is $75,037 compared to $78,429 in Waverly (-4.3%). Waverly 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 13.9% in Waverly.