Elkader, IA vs New Hampton, IA

Elkader, IA and New Hampton, IA have a very similar cost of living, with only a 2.3% difference in their overall index. Elkader scores 69 while New Hampton scores 70 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 Elkader is $851/month compared to $838/month in New Hampton — a 2% difference. Interestingly, home values tell a different story: while New Hampton has cheaper rent, Elkader actually has lower median home values ($134,300 vs $159,200).

Median household income in Elkader is $61,786 compared to $61,491 in New Hampton (+0.5%). 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 16.4% in New Hampton.