Decorah, IA vs Spencer, IA

Spencer is moderately more affordable than Decorah, with a 6.2% lower cost of living index. Decorah scores 75 compared to 71 for Spencer, where the US average is 100. This difference means residents of Decorah can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Decorah is $788/month compared to $795/month in Spencer — a 1% difference. Interestingly, home values tell a different story: while Decorah has cheaper rent, Spencer actually has lower median home values ($178,300 vs $234,600).

Median household income in Decorah is $62,177 compared to $57,068 in Spencer (+9%). While Decorah 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, less than the 16.7% in Spencer.