Gilman City, MO vs New Franklin, MO

Gilman City, MO and New Franklin, MO have a very similar cost of living, with only a 0.9% difference in their overall index. Gilman City scores 61 while New Franklin scores 61 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 Gilman City is $754/month compared to $680/month in New Franklin — a 11% difference. Interestingly, home values tell a different story: while New Franklin has cheaper rent, Gilman City actually has lower median home values ($73,800 vs $117,700).

Median household income in Gilman City is $52,875 compared to $53,056 in New Franklin (-0.3%). New Franklin does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Gilman City spend roughly 17.1% of their income on rent, more than the 15.4% in New Franklin.