Colby, WI vs Iron River, WI

Iron River is moderately more affordable than Colby, with a 5.5% lower cost of living index. Colby scores 69 compared to 65 for Iron River, where the US average is 100. This difference means residents of Colby can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Colby is $821/month compared to $653/month in Iron River — a 26% difference. Interestingly, home values tell a different story: while Iron River has cheaper rent, Colby actually has lower median home values ($147,900 vs $152,100).

Median household income in Colby is $52,574 compared to $55,294 in Iron River (-4.9%). Iron River offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Colby spend roughly 18.7% of their income on rent, more than the 14.2% in Iron River.