Iona, ID vs Wallace, ID

The cost of living difference between Iona, ID and Wallace, ID is dramatic. Wallace is 38.7% cheaper than Iona, a gap that translates to thousands of dollars per year in household expenses. Iona has a cost index of 101 while Wallace sits at 73, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Iona is $1,284/month compared to $731/month in Wallace — a 76% difference. Home values follow the same pattern: Wallace is more affordable at $219,200 median vs $364,400.

Median household income in Iona is $83,750 compared to $50,526 in Wallace (+65.8%). While Iona is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Iona spend roughly 18.4% of their income on rent, more than the 17.4% in Wallace.