Understand the cost of living in Iowa including housing, taxes, insurance, and everyday expenses. Compare Iowa costs to the national average.
Iowa has a cost of living index of 90, where 100 represents the national average. This means living in Iowa is 90 percent of the national average cost. The median household income in Iowa is $65,600, which should be weighed against local expenses.
Housing is typically the largest expense for Iowa residents. The median home price is $200,000, with property taxes averaging 1.52% and home insurance at $1,700 per year. Renters also face costs influenced by the state's overall cost of living index of 90.
Iowa residents pay a top income tax rate of 5.7%, a sales tax of 6%, and property taxes of 1.52%. These tax rates play a major role in the overall cost of living and your household budget.
Auto insurance in Iowa averages $1,380 per year, which is a significant ongoing expense. Combined with fuel, maintenance, and commuting costs, transportation can account for a notable portion of the Iowa household budget.
With a cost of living index of 90, Iowa ranks among states that are 90 percent of the national average. The median income of $65,600 and median home price of $200,000 provide useful benchmarks for comparison. Use CalcHubb's cost of living calculator to compare Iowa with any other state.
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