Chatfield, MN vs Silver Lake, MN

Chatfield, MN and Silver Lake, MN have a very similar cost of living, with only a 3.1% difference in their overall index. Chatfield scores 70 while Silver Lake scores 72 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 Chatfield is $645/month compared to $769/month in Silver Lake — a 16% difference. Interestingly, home values tell a different story: while Chatfield has cheaper rent, Silver Lake actually has lower median home values ($184,800 vs $216,000).

Median household income in Chatfield is $91,912 compared to $75,000 in Silver Lake (+22.5%). Chatfield offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Chatfield spend roughly 8.4% of their income on rent, less than the 12.3% in Silver Lake.