Independence, IA vs Spencer, IA

Independence, IA and Spencer, IA have a very similar cost of living, with only a 3.6% difference in their overall index. Independence scores 68 while Spencer scores 71 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 Independence is $769/month compared to $795/month in Spencer — a 3% difference. Home values follow the same pattern: Independence is more affordable at $156,900 median vs $178,300.

Median household income in Independence is $72,250 compared to $57,068 in Spencer (+26.6%). Independence offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Independence spend roughly 12.8% of their income on rent, less than the 16.7% in Spencer.

Climate-wise, both cities share similar average temperatures (49°F vs 46.8°F). Independence receives more rainfall at 36.3" per year compared to 26.8" in Spencer.