Ely, IA vs Polk City, IA

Ely, IA and Polk City, IA have a very similar cost of living, with only a 2.1% difference in their overall index. Ely scores 85 while Polk City scores 87 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 Ely is $1,014/month compared to $746/month in Polk City — a 36% difference. Interestingly, home values tell a different story: while Polk City has cheaper rent, Ely actually has lower median home values ($275,800 vs $385,000).

Median household income in Ely is $102,262 compared to $163,000 in Polk City (-37.3%). While Polk City is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ely spend roughly 11.9% of their income on rent, more than the 5.5% in Polk City.