Milltown, IN vs Spencer, IN

Milltown is moderately more affordable than Spencer, with a 12.2% lower cost of living index. Milltown scores 62 compared to 71 for Spencer, where the US average is 100. This difference means residents of Spencer can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Milltown is $633/month compared to $860/month in Spencer — a 26% difference. Home values follow the same pattern: Milltown is more affordable at $125,600 median vs $146,300.

Median household income in Milltown is $58,419 compared to $47,994 in Spencer (+21.7%). Milltown offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Milltown spend roughly 13% of their income on rent, less than the 21.5% in Spencer.