Iowa Falls, IA vs Storm Lake, IA

Iowa Falls, IA and Storm Lake, IA have a very similar cost of living, with only a 3.7% difference in their overall index. Iowa Falls scores 68 while Storm Lake scores 70 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 $830/month in Storm Lake — a 8% difference. Interestingly, home values tell a different story: while Storm Lake has cheaper rent, Iowa Falls actually has lower median home values ($106,300 vs $163,600).

Median household income in Iowa Falls is $53,051 compared to $58,341 in Storm Lake (-9.1%). While Storm Lake 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 17.1% in Storm Lake.

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 Storm Lake.