Decorah, IA vs Madrid, IA

Decorah, IA and Madrid, IA have a very similar cost of living, with only a 4.6% difference in their overall index. Decorah scores 75 while Madrid scores 79 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 Decorah is $788/month compared to $1,034/month in Madrid — a 24% difference. Interestingly, home values tell a different story: while Decorah has cheaper rent, Madrid actually has lower median home values ($185,100 vs $234,600).

Median household income in Decorah is $62,177 compared to $86,915 in Madrid (-28.5%). While Madrid is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Decorah spend roughly 15.2% of their income on rent, more than the 14.3% in Madrid.