Iron Mountain Lake, MO vs Thayer, MO

Iron Mountain Lake, MO and Thayer, MO have a very similar cost of living, with only a 1% difference in their overall index. Iron Mountain Lake scores 57 while Thayer scores 57 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 Iron Mountain Lake is $715/month compared to $652/month in Thayer — a 10% difference. Interestingly, home values tell a different story: while Thayer has cheaper rent, Iron Mountain Lake actually has lower median home values ($38,600 vs $69,300).

Median household income in Iron Mountain Lake is $30,395 compared to $36,477 in Thayer (-16.7%). While Thayer is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Iron Mountain Lake spend roughly 28.2% of their income on rent, more than the 21.4% in Thayer.