Chesterfield, IN vs Silver Lake, IN

Chesterfield, IN and Silver Lake, IN have a very similar cost of living, with only a 4% difference in their overall index. Chesterfield scores 71 while Silver Lake scores 73 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 Chesterfield is $957/month compared to $1,057/month in Silver Lake — a 10% difference. Home values follow the same pattern: Chesterfield is more affordable at $102,300 median vs $107,300.

Median household income in Chesterfield is $58,125 compared to $53,542 in Silver Lake (+8.6%). Chesterfield offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Chesterfield spend roughly 19.8% of their income on rent, less than the 23.7% in Silver Lake.