Ellettsville, IN vs Spencer, IN

Ellettsville, IN and Spencer, IN have a very similar cost of living, with only a 4.2% difference in their overall index. Ellettsville scores 74 while Spencer scores 71 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 Ellettsville is $746/month compared to $860/month in Spencer — a 13% difference. Interestingly, home values tell a different story: while Ellettsville has cheaper rent, Spencer actually has lower median home values ($146,300 vs $224,400).

Median household income in Ellettsville is $82,238 compared to $47,994 in Spencer (+71.4%). While Ellettsville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ellettsville spend roughly 10.9% of their income on rent, less than the 21.5% in Spencer.