Elkader, IA vs Farnhamville, IA

Farnhamville is moderately more affordable than Elkader, with a 13.7% lower cost of living index. Elkader scores 69 compared to 60 for Farnhamville, where the US average is 100. This difference means residents of Elkader can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elkader is $851/month compared to $754/month in Farnhamville — a 13% difference. Home values follow the same pattern: Farnhamville is more affordable at $69,200 median vs $134,300.

Median household income in Elkader is $61,786 compared to $55,000 in Farnhamville (+12.3%). The higher salaries in Elkader partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Elkader spend roughly 16.5% of their income on rent, less than the 16.5% in Farnhamville.