Elma, IA vs Greenfield, IA

Elma, IA and Greenfield, IA have a very similar cost of living, with only a 2.6% difference in their overall index. Elma scores 58 while Greenfield scores 60 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 Elma is $668/month compared to $600/month in Greenfield — a 11% difference. Interestingly, home values tell a different story: while Greenfield has cheaper rent, Elma actually has lower median home values ($71,400 vs $115,700).

Median household income in Elma is $41,528 compared to $53,152 in Greenfield (-21.9%). While Greenfield 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 13.5% in Greenfield.