Elkader, IA vs Milford, IA

Elkader is moderately more affordable than Milford, with a 6.7% lower cost of living index. Elkader scores 69 compared to 74 for Milford, where the US average is 100. This difference means residents of Milford 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 $806/month in Milford — a 6% difference. Interestingly, home values tell a different story: while Milford has cheaper rent, Elkader actually has lower median home values ($134,300 vs $211,000).

Median household income in Elkader is $61,786 compared to $60,571 in Milford (+2%). Elkader offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Elkader spend roughly 16.5% of their income on rent, more than the 16% in Milford.