Fayette, IA vs Milford, IA

Fayette, IA and Milford, IA have a very similar cost of living, with only a 3.3% difference in their overall index. Fayette scores 71 while Milford scores 74 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 Fayette is $963/month compared to $806/month in Milford — a 20% difference. Interestingly, home values tell a different story: while Milford has cheaper rent, Fayette actually has lower median home values ($123,300 vs $211,000).

Median household income in Fayette is $39,297 compared to $60,571 in Milford (-35.1%). While Milford is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Fayette spend roughly 29.4% of their income on rent, more than the 16% in Milford.