Glenwood, MN vs Silver Lake, MN

Glenwood, MN and Silver Lake, MN have a very similar cost of living, with only a 2.1% difference in their overall index. Glenwood scores 74 while Silver Lake scores 72 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 $830/month compared to $769/month in Silver Lake — a 8% difference. Interestingly, home values tell a different story: while Silver Lake has cheaper rent, Glenwood actually has lower median home values ($181,000 vs $184,800).

Median household income in Glenwood is $45,735 compared to $75,000 in Silver Lake (-39%). Silver Lake offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Glenwood spend roughly 21.8% of their income on rent, more than the 12.3% in Silver Lake.

Climate-wise, Silver Lake is notably warmer with an average of 46.7°F compared to 42.5°F in Glenwood. Silver Lake receives more rainfall at 30.6" per year compared to 24.1" in Glenwood.