Elwood, NE vs Wood River, NE

Elwood, NE and Wood River, NE have a very similar cost of living, with only a 2.4% difference in their overall index. Elwood scores 68 while Wood River scores 66 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 Elwood is $775/month compared to $820/month in Wood River — a 6% difference. Interestingly, home values tell a different story: while Elwood has cheaper rent, Wood River actually has lower median home values ($131,400 vs $150,700).

Median household income in Elwood is $68,500 compared to $76,591 in Wood River (-10.6%). Wood River 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 13.6% of their income on rent, more than the 12.8% in Wood River.

Climate-wise, both cities share similar average temperatures (52.2°F vs 51.9°F). Wood River receives more rainfall at 26.4" per year compared to 20.1" in Elwood.