Elk Run Heights, IA vs Madrid, IA

Madrid is moderately more affordable than Elk Run Heights, with a 5.1% lower cost of living index. Elk Run Heights scores 83 compared to 79 for Madrid, where the US average is 100. This difference means residents of Elk Run Heights can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elk Run Heights is $1,250/month compared to $1,034/month in Madrid — a 21% difference. Interestingly, home values tell a different story: while Madrid has cheaper rent, Elk Run Heights actually has lower median home values ($169,400 vs $185,100).

Median household income in Elk Run Heights is $68,828 compared to $86,915 in Madrid (-20.8%). Madrid offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Elk Run Heights spend roughly 21.8% of their income on rent, more than the 14.3% in Madrid.