Goldfield, IA vs Paton, IA

Goldfield, IA and Paton, IA have a very similar cost of living, with only a 4.4% difference in their overall index. Goldfield scores 55 while Paton scores 53 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 Goldfield is $535/month compared to $500/month in Paton — a 7% difference. Home values follow the same pattern: Paton is more affordable at $70,000 median vs $87,800.

Median household income in Goldfield is $54,500 compared to $62,292 in Paton (-12.5%). Paton offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Goldfield spend roughly 11.8% of their income on rent, more than the 9.6% in Paton.