Elwood, IL vs Grafton, IL

There is a significant gap in the cost of living between these two cities. Grafton is 15.6% cheaper than Elwood. With a cost index of 73 vs 84, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Grafton to Elwood should plan for substantially higher expenses across most categories.

On the housing front, median rent in Elwood is $986/month compared to $617/month in Grafton — a 60% difference. Interestingly, home values tell a different story: while Grafton has cheaper rent, Elwood actually has lower median home values ($224,900 vs $254,700).

Median household income in Elwood is $73,640 compared to $93,250 in Grafton (-21%). Grafton offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Elwood spend roughly 16.1% of their income on rent, more than the 7.9% in Grafton.

Climate-wise, Grafton is notably warmer with an average of 56.1°F compared to 49.4°F in Elwood. Grafton receives more rainfall at 39.4" per year compared to 33.8" in Elwood.