Forest City, IA vs Spencer, IA

Forest City is moderately more affordable than Spencer, with a 8.1% lower cost of living index. Forest City scores 65 compared to 71 for Spencer, where the US average is 100. This difference means residents of Spencer can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Forest City is $719/month compared to $795/month in Spencer — a 10% difference. Home values follow the same pattern: Forest City is more affordable at $136,400 median vs $178,300.

Median household income in Forest City is $62,917 compared to $57,068 in Spencer (+10.2%). Forest City offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Forest City spend roughly 13.7% of their income on rent, less than the 16.7% in Spencer.