Fayette, IA vs New Hampton, IA

Fayette, IA and New Hampton, IA have a very similar cost of living, with only a 1.2% difference in their overall index. Fayette scores 71 while New Hampton scores 70 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 $838/month in New Hampton — a 15% difference. Interestingly, home values tell a different story: while New Hampton has cheaper rent, Fayette actually has lower median home values ($123,300 vs $159,200).

Median household income in Fayette is $39,297 compared to $61,491 in New Hampton (-36.1%). New Hampton offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Fayette spend roughly 29.4% of their income on rent, more than the 16.4% in New Hampton.