Iowa Falls, IA vs Spencer, IA

Iowa Falls, IA and Spencer, IA have a very similar cost of living, with only a 3.9% difference in their overall index. Iowa Falls 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 Iowa Falls is $898/month compared to $795/month in Spencer — a 13% difference. Interestingly, home values tell a different story: while Spencer has cheaper rent, Iowa Falls actually has lower median home values ($106,300 vs $178,300).

Median household income in Iowa Falls is $53,051 compared to $57,068 in Spencer (-7%). While Spencer is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Iowa Falls spend roughly 20.3% of their income on rent, more than the 16.7% in Spencer.

Climate-wise, both cities share similar average temperatures (47.7°F vs 46.8°F). Iowa Falls receives more rainfall at 32.8" per year compared to 26.8" in Spencer.