Hopkinton, IA vs Rake, IA

Hopkinton, IA and Rake, IA have a very similar cost of living, with only a 4.9% difference in their overall index. Hopkinton scores 56 while Rake scores 59 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 Hopkinton is $505/month compared to $792/month in Rake — a 36% difference. Interestingly, home values tell a different story: while Hopkinton has cheaper rent, Rake actually has lower median home values ($34,200 vs $108,900).

Median household income in Hopkinton is $80,536 compared to $41,071 in Rake (+96.1%). Hopkinton offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Hopkinton spend roughly 7.5% of their income on rent, less than the 23.1% in Rake.

Climate-wise, both cities share similar average temperatures (47.2°F vs 45.6°F). Hopkinton receives more rainfall at 38.2" per year compared to 36.3" in Rake.