Glenwood, IA vs Spencer, IA

Glenwood, IA and Spencer, IA have a very similar cost of living, with only a 4.6% difference in their overall index. Glenwood scores 74 while Spencer scores 71 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 Glenwood is $842/month compared to $795/month in Spencer — a 6% difference. Home values follow the same pattern: Spencer is more affordable at $178,300 median vs $193,800.

Median household income in Glenwood is $69,320 compared to $57,068 in Spencer (+21.5%). While Glenwood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Glenwood spend roughly 14.6% of their income on rent, less than the 16.7% in Spencer.