Ivanhoe, MN vs Silver Bay, MN

There is a significant gap in the cost of living between these two cities. Ivanhoe is 28.3% cheaper than Silver Bay. With a cost index of 56 vs 78, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Ivanhoe to Silver Bay should plan for substantially higher expenses across most categories.

On the housing front, median rent in Ivanhoe is $550/month compared to $1,044/month in Silver Bay — a 47% difference. Home values follow the same pattern: Ivanhoe is more affordable at $65,500 median vs $150,700.

Median household income in Ivanhoe is $54,583 compared to $70,870 in Silver Bay (-23%). The higher salaries in Silver Bay partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Ivanhoe spend roughly 12.1% of their income on rent, less than the 17.7% in Silver Bay.

Climate-wise, Ivanhoe is notably warmer with an average of 45.1°F compared to 39.5°F in Silver Bay. Ivanhoe receives more rainfall at 29.6" per year compared to 25.9" in Silver Bay.