Housing is a bit more expensive in Iowa, however, with the median home value at just under $130,000. If you buy a home at the median list price, you’re going to pay around $140,000, which generally results in a mortgage payment of no more than $900 per month.
How much is cost of living in Iowa?
The cost of living in Iowa is 9% lower than the national average. Housing is 23% lower than the national average, while utilities are 5% lower. When it comes to basic necessities such as food and clothing, groceries are around 5% lower than in the rest of the country, while clothing costs 5% lower.
What is the average cost of living in Iowa per year?
In Iowa, Johnson County, home to the city of Iowa City, has the highest overall cost of living for a family of four at $87,836 per year, well above the statewide average of $75,798 per year.
Is housing expensive in Iowa?
In comparison to other states in the U.S., Iowa is considered one of the most reasonably priced places to reside. In fact, a recent article published by USA Today ranked Iowa the ninth cheapest state to live in.
Is Iowa an affordable place to live?
Iowa is a great place to live if you want to get the most for your money. In fact, U.S. News & World_Report rated Iowa fourth overall among U.S. states for affordability, taking into account the costs of daily living, housing prices, and family incomes. In housing affordability, Iowa ranked first.
How much money do you have to make to live comfortably in Iowa?
Iowa wages fall short
A family of four with an infant and a preschool-aged child would need $50,196 per year to meet basic living expenses. That means one working parent would need to earn $25.10 per hour, or two parents would need to earn $12.55 per hour, “This is just a bare-bones survival budget.
What state has the lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
What is the living wage in Iowa 2022?
State Minimum Wage Rate for Iowa was 7.25000 $ per Hour in January of 2022, according to the United States Federal Reserve.
Is Iowa the cheapest state to live?
Iowa is the eighth-cheapest state to live in the United States. Costs in Iowa are lower than the national average across all metrics. Iowa’s housing is especially cheap, with an index of 76, the sixth-lowest in the nation.
What is the best small town in Iowa?
And every small town in Iowa offers a unique slice of character and history.
12 Best Small Towns in Iowa
- Pella. Tulips and a Dutch windmill, two trademarks of Pella.
- Decorah.
- Winterset.
- Spirit Lake.
- Le Claire.
- Amana Colonies.
- Waverly.
- Bentonsport.
Is it cheaper to live in Texas or Iowa?
Iowa is 1.0% more expensive than Texas.
What are the pros and cons of living in Iowa?
Summary: Pros And Cons Of Living In Iowa
- Low cost of living.
- Jobs and economic growth.
- Quality educational opportunities.
- Minimal effects of urbanization.
- Low crime rates.
- A 4 season climate.
- Severe and extreme weather conditions.
- High state income tax rates.
What is the cheapest county in Iowa to live in?
Pocahontas County
Pocahontas County
#1 Counties with the Lowest Cost of Living in Iowa.
What is the best place to live in Iowa?
Iowa City is Iowa’s highest-ranked city at No. 58, followed by Ames at No. 64 and Des Moines at No. 93.
These three Iowa cities rank among the country’s 100 best places to live, study says
- Economics.
- Housing.
- Amenities.
- Infrastructure.
- Demographics.
- Social and civic capital.
- Education.
- Health care.
What is middle class income in Iowa?
Here’s how Iowa fared: Median household income of middle class families: $75,953. Median household income change of middle class: -3.8% In-state tuition and fees: $8,270.
What is considered poor in Iowa?
United Way of Central Iowa defines poverty as anyone living below 250 percent of the federal poverty level. Above that level, families can afford what is necessary to survive in modern society, including rent, utilities, food, child care, health care, transportation, clothing, and household essentials.
What’s considered low income in Iowa?
For example, if you have a household size of 4, and the program eligibility is 200% of the Federal Poverty Level, then you may qualify for the program if your household income is under $55,500.
What is the best state to live in financially?
The five best states for your personal finances in 2022 are (No. 1 being best): Tennessee.
- New Jersey.
- Hawaii.
- Connecticut.
- Alaska.
- Illinois.
Where is the cheapest but nicest place to live in the US?
Coming in at the top of the C2ER list was Cedar Park, Texas, which was named the most affordable place to live in America. Set outside Austin, Cedar Park made it to the top of the list, due to its low cost of living index (7.2% below the national average) and high income levels (17.8% above the national median).
What state is most expensive to live in?
Hawaii
Hawaii. Hawaii is the most expensive state to live in the United States. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. Hawaii has the highest costs across all indexes, except healthcare.
What is the average hourly pay in Iowa?
$18
Hourly Salary in Iowa
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $57,028 | $27 |
| 75th Percentile | $40,148 | $19 |
| Average | $37,936 | $18 |
| 25th Percentile | $25,092 | $12 |