Algona cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexAlgonaIowaNational
Cost of living index8288100
IndexAlgonaIowaNational
Goods & Services index9493100
Groceries index9395100
Health care index9196100
Housing index5873100
Transportation index9097100
Utilities index9399100
The above illustration supplies generalized information for the Algona, IA cost of living index. Compared to other cities in Iowa and cities across the country, the cost of living index in Algona, IA is 82, which is 7% lower than the Iowa average and 18% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Algona, IA are equal to the average for Iowa and 7% lower than the rest of the country.

Did you know?

  • The cost of living in Algona is 7% lower than the Iowa average.
  • The cost of living in Algona is 18% lower than the national average.
  • The cost of housing in Algona is 42% lower than the national average.
  • Iowa general sales tax is 18% higher than the national average.
  • Iowa state income tax is 84% lower than the national average.

Find Real Estate Listings In Algona

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Algona

Compare Algona, IA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Use the salary calculator to compare your current income in Algona, IA to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Algona, IA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Algona, IA salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,990$4,666$1,306$1,680
Renters$24,821$2,068$579$745
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Algona, IA, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Algona, IA homeowners have a median income of $55,990. Using that number, you will come up with a maximum of $1,306 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $24,821, which means there is a maximum of $579 to be spent on the costs of renting a home or apartment.

Iowa Sales Tax

StateGeneral Sales TaxWith Max Surtax
Iowa6%7%

Iowa Income Tax

StateIncome Tax (Low)Income Tax (High)
Iowa0.36%8.98%
When assessing the complete cost of living in Algona, IA, the Iowa income tax and the Iowa sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Iowa maximum surtax is 7%, and the Iowa sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.36% to 8.98% in Iowa.

Goods & Services

ItemAlgonaNational avg.Difference
Haircut $17.32$14.5918.7%
Beauty Salon $19.78$34.6843.0%
Toothpaste $1.74$2.4729.6%
Shampoo $0.95$1.027.0%
Movie $8.25$9.8716.4%
Bowling $2.75$4.3937.4%

Groceries

ItemAlgonaNational avg.Difference
Ground Beef $5.37$4.4820.0%
Fried Chicken $1.84$1.4625.7%
Milk $2.20$2.366.6%
Potatoes $2.64$3.0613.8%
Pizza $7.99$9.2413.6%
Beer $7.76$8.6310.1%

Health Care

ItemAlgonaNational avg.Difference
Optometrist $84.67$99.7815.1%
Doctor $105.00$105.030.0%
Dentist $78.25$88.7011.8%
Ibuprofen $7.99$9.4115.1%
Lipitor $259.66$298.5013.0%

Housing

ItemAlgonaNational avg.Difference
Home Price $98,800.00$175,700.0043.8%
Avg. Mortgage Payment $786.08$1,081.0327.3%
Apartment Rent $575.00$920.0037.5%

Transportation

ItemAlgonaNational avg.Difference
Gasoline $1.91$2.098.8%
Tire Balancing $39.33$45.2913.2%

Utilities

ItemAlgonaNational avg.Difference
All Electricity$184.38$170.808.0%
Phone $20.10$28.2628.9%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
St. Joseph, IA4393-7%
Irvington, IA2593-7%
Sexton, IA4693-7%
Rodman, IA4969-31%
Lone Rock, IA12571-29%
Algona, IA5,51382-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lake Mohegan, NY5,51413838%
Rib Mountain, WI5,51295-5%
Alma, AR5,51488-12%
Brady, TX5,51581-19%
Naval Academy, MD5,51713434%
Algona, IA5,51382-18%
Source: The Algona, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.