New Market, IA vs Sheffield, IA

New Market, IA and Sheffield, IA have a very similar cost of living, with only a 2.6% difference in their overall index. New Market scores 64 while Sheffield scores 63 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 New Market is $827/month compared to $648/month in Sheffield — a 28% difference. Interestingly, home values tell a different story: while Sheffield has cheaper rent, New Market actually has lower median home values ($92,000 vs $138,500).

Median household income in New Market is $58,125 compared to $64,297 in Sheffield (-9.6%). Sheffield offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New Market spend roughly 17.1% of their income on rent, more than the 12.1% in Sheffield.

Climate-wise, New Market is notably warmer with an average of 51.6°F compared to 45.6°F in Sheffield. New Market receives more rainfall at 37.4" per year compared to 36.3" in Sheffield.