Ely, IA vs Red Oak, IA

The cost of living difference between Ely, IA and Red Oak, IA is dramatic. Red Oak is 34.3% cheaper than Ely, a gap that translates to thousands of dollars per year in household expenses. Ely has a cost index of 85 while Red Oak sits at 63, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Ely is $1,014/month compared to $768/month in Red Oak — a 32% difference. Home values follow the same pattern: Red Oak is more affordable at $91,600 median vs $275,800.

Median household income in Ely is $102,262 compared to $52,996 in Red Oak (+93%). While Ely 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, less than the 17.4% in Red Oak.