Hammond, WI vs Iron River, WI

There is a significant gap in the cost of living between these two cities. Iron River is 28.7% cheaper than Hammond. With a cost index of 65 vs 84, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Iron River to Hammond should plan for substantially higher expenses across most categories.

On the housing front, median rent in Hammond is $935/month compared to $653/month in Iron River — a 43% difference. Home values follow the same pattern: Iron River is more affordable at $152,100 median vs $232,700.

Median household income in Hammond is $82,159 compared to $55,294 in Iron River (+48.6%). While Hammond is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Hammond spend roughly 13.7% of their income on rent, less than the 14.2% in Iron River.