What is the cost of living in Iowa?
The cost of living in Iowa is 0.6% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Iowa is $89,241 vs the national average for a family of four with two working parents of $89,744. The median income of a Iowa household is $61,836.
The average home price in Iowa is $153,900, which is lower than the US average home price of $229,800. Median rent in Iowa is $806/mo which is lower than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 2.5 to 1. That means it takes roughly 2.5 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Iowa has a low cost of living compared to America as a whole.
People Also Ask About Iowa
Is Iowa a dangerous state?
No, Iowa is not a dangerous state as it ranks as the #14 safest state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Iowa ranks 34th most dangerous in the United States -- 17.93% better than US average violent crime rate. The property crime rate in the Hawkeye State ranks 33rd most dangerous in the United States -- 13.11% better than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Des Moines, IA a dangerous city?
Yes, Des Moines is a dangerous city. Des Moines ranks as the #105 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Des Moines might be considered dangerous you still need to be aware of where you are. For example, Greenwood is the safest in Des Moines, while Laurel Hill is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Des Moines ranks 108th highest in America -- 13.62% worse than US average violent crime rate. The property crime rate in the ranks 98th highest in the United States -- 16.31% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in Iowa has the lowest cost of living?
The county in Iowa with the lowest cost of living is Decatur County. The average living wage in Decatur County is $84,148 according to MIT data. Decatur County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Iowa as a whole. Childcare costs $11,870 a year in Decatur County for two children compared to the Iowa average of $15,077. Housing costs, defined as a blend of the average rent and average mortgage payment, are $8,580 per year in Decatur County compared to $9,843 on average in Iowa.
What is the cheapest housing market in Iowa?
The cheapest housing market in Iowa is Centerville. The average home value in Centerville is $73,000, the lowest in the state. The average home value in Iowa is $153,900, almost 2.1 times higher than Centerville.