Elmwood, IL vs Evansville, IL

Elmwood, IL and Evansville, IL have a very similar cost of living, with only a 3.1% difference in their overall index. Elmwood scores 66 while Evansville scores 64 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 Elmwood is $761/month compared to $775/month in Evansville — a 2% difference. Interestingly, home values tell a different story: while Elmwood has cheaper rent, Evansville actually has lower median home values ($84,700 vs $144,600).

Median household income in Elmwood is $87,644 compared to $63,125 in Evansville (+38.8%). While Elmwood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elmwood spend roughly 10.4% of their income on rent, less than the 14.7% in Evansville.

Climate-wise, Evansville is notably warmer with an average of 57.7°F compared to 52.7°F in Elmwood. Evansville receives more rainfall at 43.4" per year compared to 37.6" in Elmwood.