Monticello, IA vs Spencer, IA

Monticello is moderately more affordable than Spencer, with a 8.4% lower cost of living index. Monticello scores 65 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 Monticello is $659/month compared to $795/month in Spencer — a 17% difference. Home values follow the same pattern: Monticello is more affordable at $160,500 median vs $178,300.

Median household income in Monticello is $67,788 compared to $57,068 in Spencer (+18.8%). Monticello offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Monticello spend roughly 11.7% of their income on rent, less than the 16.7% in Spencer.

Climate-wise, both cities share similar average temperatures (47.2°F vs 46.8°F). Monticello receives more rainfall at 38.2" per year compared to 26.8" in Spencer.