Fairbank, IA vs Monticello, IA

Fairbank, IA and Monticello, IA have a very similar cost of living, with only a 0.9% difference in their overall index. Fairbank scores 64 while Monticello scores 65 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 Fairbank is $630/month compared to $659/month in Monticello — a 4% difference. Interestingly, home values tell a different story: while Fairbank has cheaper rent, Monticello actually has lower median home values ($160,500 vs $173,200).

Median household income in Fairbank is $100,172 compared to $67,788 in Monticello (+47.8%). Fairbank offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Fairbank spend roughly 7.5% of their income on rent, less than the 11.7% in Monticello.