Elma, IA vs Farley, IA

There is a significant gap in the cost of living between these two cities. Elma is 25.9% cheaper than Farley. With a cost index of 58 vs 78, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Elma to Farley should plan for substantially higher expenses across most categories.

On the housing front, median rent in Elma is $668/month compared to $893/month in Farley — a 25% difference. Home values follow the same pattern: Elma is more affordable at $71,400 median vs $242,600.

Median household income in Elma is $41,528 compared to $96,563 in Farley (-57%). While Farley is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elma spend roughly 19.3% of their income on rent, more than the 11.1% in Farley.