Goldfield, IA vs Wadena, IA

Goldfield, IA and Wadena, IA have a very similar cost of living, with only a 3.3% difference in their overall index. Goldfield scores 55 while Wadena scores 57 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 $594/month in Wadena — a 10% difference. Home values follow the same pattern: Goldfield is more affordable at $87,800 median vs $89,300.

Median household income in Goldfield is $54,500 compared to $48,438 in Wadena (+12.5%). Goldfield 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, less than the 14.7% in Wadena.