Chelsea, IA vs Lake View, IA

Chelsea is moderately more affordable than Lake View, with a 13.5% lower cost of living index. Chelsea scores 56 compared to 65 for Lake View, where the US average is 100. This difference means residents of Lake View can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Chelsea is $681/month compared to $667/month in Lake View — a 2% difference. Interestingly, home values tell a different story: while Lake View has cheaper rent, Chelsea actually has lower median home values ($43,100 vs $154,800).

Median household income in Chelsea is $32,188 compared to $66,118 in Lake View (-51.3%). While Lake View is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Chelsea spend roughly 25.4% of their income on rent, more than the 12.1% in Lake View.