What Is The Cost Of Living In Iowa?
May 24, 2023The cost of living in Iowa is different in the different areas of the state. But, overall living in Iowa is less expensive than it is on average across the United States as a whole. Iowa is a state located in the United States and shares a border with the Mississippi River to the east. The state of Iowa is known for many things, including corn and pork production, political caucuses, and the Iowa State Fair. Let’s have a look at the cost of living in Iowa.
What Is The Cost Of Living In Iowa?
The cost of living in Iowa is 80.1 as compared with the national average of 100. In general, living in dense, urban metro areas is more expensive than living in metro rural areas. Iowa is home to eight metropolitan areas. The most expensive in the state is the Iowa City metro area, where the cost of goods and services is 6.3% lower than the national average and 4.5% higher than the statewide average. Below is the table showing the average cost of living in Iowa per month.
| Cost Of Living For | Iowa | USA |
|---|---|---|
| Housing | 55.4 | 100 |
| Grocery | 94.4 | 100 |
| Transportation | 71.4 | 100 |
| Utilities | 98.5 | 100 |
| Health | 108.2 | 100 |
| Miscellaneous | 96.3 | 100 |
| Median Home Cost | $161,700 | $291,700 |
| Overall | 80.1 | 100 |
Home Rent
Housing cost is the bulky expenses in the cost of living in Iowa City. but depending on where you choose to live, housing costs are one area where you could see some savings in Iowa. The cost of living index score for housing in Iowa is 55.4. The average value of a home in Iowa, as of July 2022, was about $194,400, up 11% from the previous year. We have tabulated the price of rent, including the cost of living in Sioux City Iowa as well as the cost of living in Ames Iowa.
| City | Approx 1 Bedroom Rent | Approx 2 Bedroom Rent |
|---|---|---|
| Cedar | $1,395 | $1,450 |
| Sioux City | $1,100 | $1,600 |
| Ames | $715 | $2,000 |
| Des Moines | $1,095 | $1,900 |
| Davenport | $1,975 | $2,100 |
Food Cost
The cost of food also affects the cost of living in Cedar Rapids Iowa. In Iowa, how much you could expect to spend on groceries each month depends on your taste and your household makeup. The monthly grocery costs in Iowa could range somewhere between about $285 per month for a single adult to over $1,000 per month for a household of two adults and three children. The table given below will show you the approx cost of dinner for 2 in different cities in Iowa, including the cost of living in Des Moines, Iowa.
| City | Approx Dinner Cost For 2 |
|---|---|
| Cedar | $50 |
| Sioux City | $52 |
| Ames | $30 |
| Des Moines | $59.8 |
| Davenport | $25 |
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Travel Cost
When you see the cost of living in Iowa vs Texas, you will find Iowa is less expensive than Texas. The average cost of transportation is between $442 and $1,205 per month. And the average national cost of car ownership for a new vehicle in 2022 rose to 4894 per month according to AAA. A single adult without children living in Iowa would need to earn at least $16.18 per hour or about $33,654 per year.
Other Expenses
There are some other expenses like healthcare, internet, entertainment, fitness, taxes, etc, which also need to be considered while calculating the cost of living in Iowa per year.
Health Care
When you compare the cost of living in Colorado vs Iowa, you will find Iowa is less expensive than Colorado. On average, it is possible you could expect to spend between $231 and $688 per month on medical care.
Utility Bills
In Iowa, the utility bill is around $134.68 per month. The utilities include heating, cooling, garbage collection, energy, water supply, and internet.
Internet Bills
The cost of the internet in Iowa is not fixed but changes as per speed, data, and operator. The internet plan from Centurylink will cost you $49.99 per month while the cost of an internet plan from Windstream will cost you $60 per month.
Fitness
The cost of fitness is not much but it is also important so it needs to be considered while managing your monthly budget. The price of 1 month of gym membership in a business district in Des Moines, Iowa is $38.
Entertainment
This category is not very expensive but you need to consider it while calculating the monthly cost of living. There are multiple places where you can visit without any fees or charges.
Taxes
The average adult working in Iowa pays $5,812 annually in Taxes below the national average of $6,542. Few expenses vary as much from state to state as taxes.
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FAQ
Is Iowa City Cheap To Live?
The cost of living in Iowa City, IA is 7% higher than the state average and 4% lower than the national average. Iowa City, IA housing is 12% cheaper than the U.S average, while utilities are about 13% less pricey.
Is Iowa A Good Place To Live?
The typical value of homes in Iowa is $168,500, which is well under the $264,200 national median. For those looking to start or grow a business, Iowa is the perfect place, as there are numerous resources available. Plus, the state was ranked No. 1 for Opportunity by U.S. News & World Report in 2021.
Are Things Cheap In Iowa?
The cost of living in Iowa is 10% lower than the national average. Housing is 24% lower than the national average, while utilities are 4% lower
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What Is A Good Salary For Iowa?
As of Dec 22, the average annual salary in Iowa is $51,837. Just in case you need a simple salary calculator, that works out to be approximately $24.92 an hour. This is equivalent of $996 a week or $4,319 a month. Most salaries in Iowa range between $36,987 (25th percentile) to $64,764 (75th percentile) annually.
Why Would People Move To Iowa?
Compared to the national average — including neighboring states —Iowa’s cost of living is low, making it an affordable place to live at any stage of life. As for the job market, it’s strong, with an unemployment rate of just 2.6% as of August 2022. Comparatively, the national average sat at 3.7%.
What Is Iowa Best Known For?
Iowa is known for many things, including corn and pork production, political caucuses, and the Iowa State Fair. It became the 29th state in the U.S. in 1846, and it’s the only state to be bordered on two sides by navigable rivers: the Mississippi and the Missouri.
Conclusion
In this article you have learned all about the cost of living in Iowa in detail. Iowa has a cost of living index score of 88.1 from the Council for Community and Economic Research, making it the state with the 5th lowest cost of living in 2022. The state trails just ahead of Kansas and Oklahoma. This is all about the cost of living in Iowa.
