Oelwein, IA vs Spencer, IA

Oelwein is moderately more affordable than Spencer, with a 10.9% lower cost of living index. Oelwein scores 63 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 Oelwein is $762/month compared to $795/month in Spencer — a 4% difference. Home values follow the same pattern: Oelwein is more affordable at $96,800 median vs $178,300.

Median household income in Oelwein is $49,821 compared to $57,068 in Spencer (-12.7%). While Spencer is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Oelwein spend roughly 18.4% of their income on rent, more than the 16.7% in Spencer.

Climate-wise, both cities share similar average temperatures (49°F vs 46.8°F). Oelwein receives more rainfall at 36.3" per year compared to 26.8" in Spencer.