Spencer, IA vs Washington, IA

Spencer, IA and Washington, IA have a very similar cost of living, with only a 2.2% difference in their overall index. Spencer scores 71 while Washington scores 72 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 Spencer is $795/month compared to $927/month in Washington — a 14% difference. Interestingly, home values tell a different story: while Spencer has cheaper rent, Washington actually has lower median home values ($144,500 vs $178,300).

Median household income in Spencer is $57,068 compared to $56,536 in Washington (+0.9%). Spencer offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Spencer spend roughly 16.7% of their income on rent, less than the 19.7% in Washington.

Climate-wise, Washington is notably warmer with an average of 51°F compared to 46.8°F in Spencer. Washington receives more rainfall at 35.7" per year compared to 26.8" in Spencer.