Carthage, IN vs Waterloo, IN

Carthage, IN and Waterloo, IN have a very similar cost of living, with only a 1.9% difference in their overall index. Carthage scores 68 while Waterloo scores 67 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 Carthage is $906/month compared to $829/month in Waterloo — a 9% difference. Interestingly, home values tell a different story: while Waterloo has cheaper rent, Carthage actually has lower median home values ($88,900 vs $108,600).

Median household income in Carthage is $42,500 compared to $61,375 in Waterloo (-30.8%). Waterloo offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Carthage spend roughly 25.6% of their income on rent, more than the 16.2% in Waterloo.