New Minden, IL vs Shipman, IL

New Minden, IL and Shipman, IL have a very similar cost of living, with only a 1.8% difference in their overall index. New Minden scores 66 while Shipman scores 65 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 Minden is $775/month compared to $788/month in Shipman — a 2% difference. Interestingly, home values tell a different story: while New Minden has cheaper rent, Shipman actually has lower median home values ($92,500 vs $107,100).

Median household income in New Minden is $83,750 compared to $62,500 in Shipman (+34%). While New Minden is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of New Minden spend roughly 11.1% of their income on rent, less than the 15.1% in Shipman.

Climate-wise, both cities share similar average temperatures (57.7°F vs 56.1°F). New Minden receives more rainfall at 43.4" per year compared to 39.4" in Shipman.