Elmwood, NE vs Wallace, NE

There is a significant gap in the cost of living between these two cities. Wallace is 16.3% cheaper than Elmwood. With a cost index of 62 vs 72, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Wallace to Elmwood should plan for substantially higher expenses across most categories.

On the housing front, median rent in Elmwood is $840/month compared to $725/month in Wallace — a 16% difference. Home values follow the same pattern: Wallace is more affordable at $101,500 median vs $176,600.

Median household income in Elmwood is $81,250 compared to $55,625 in Wallace (+46.1%). 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 12.4% of their income on rent, less than the 15.6% in Wallace.

Climate-wise, both cities share similar average temperatures (51.2°F vs 50.2°F). Elmwood receives more rainfall at 32.3" per year compared to 21.5" in Wallace.