Laurel, IA vs St. Olaf, IA

Laurel, IA and St. Olaf, IA have a very similar cost of living, with only a 1.7% difference in their overall index. Laurel scores 63 while St. Olaf scores 62 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 Laurel is $713/month compared to $775/month in St. Olaf — a 8% difference. Interestingly, home values tell a different story: while Laurel has cheaper rent, St. Olaf actually has lower median home values ($76,700 vs $104,300).

Median household income in Laurel is $59,167 compared to $88,750 in St. Olaf (-33.3%). St. Olaf offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Laurel spend roughly 14.5% of their income on rent, more than the 10.5% in St. Olaf.

Climate-wise, both cities share similar average temperatures (47.7°F vs 48.1°F). St. Olaf receives more rainfall at 33.9" per year compared to 32.8" in Laurel.