Carroll 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.
IndexCarrollIowaNational
Cost of living index8388100
IndexCarrollIowaNational
Goods & Services index8693100
Groceries index9195100
Health care index9796100
Housing index6873100
Transportation index9797100
Utilities index8599100
A general overview of the cost of living index for Carroll, IA is displayed above. In Carroll, IA, the overall cost of living index is 83, which is 6% lower than the Iowa average and 17% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Carroll, IA, the city's goods and services are 7% lower than the Iowa average and 14% lower than the U.S. average.

Did you know?

  • The cost of living in Carroll is 6% lower than the Iowa average.
  • The cost of living in Carroll is 17% lower than the national average.
  • The cost of housing in Carroll is 32% 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.

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Salary Calculator

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Use the salary calculator to compare your current salary in Carroll, IA to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Carroll, IA, then you would need to earn more income in order to maintain the same standard of living. To use the Carroll, IA salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,882$5,490$1,537$1,977
Renters$17,804$1,484$415$534
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Carroll, IA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Carroll, IA homeowners, is $65,882. This would allow for a maximum of $1,537 per month to be spent on housing costs. For renters, the median monthly income is $17,804 which would result in a maximum of $415 to be spent on rental costs.

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 Carroll, 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

ItemCarrollNational avg.Difference
Haircut $17.00$14.5916.5%
Beauty Salon $32.00$34.687.7%
Toothpaste $1.98$2.4719.9%
Shampoo $0.88$1.0213.9%
Movie $8.75$9.8711.3%
Bowling $4.99$4.3913.6%

Groceries

ItemCarrollNational avg.Difference
Ground Beef $4.11$4.488.2%
Fried Chicken $1.61$1.4610.0%
Milk $2.21$2.366.2%
Potatoes $2.61$3.0614.7%
Pizza $7.99$9.2413.6%
Beer $8.09$8.636.3%

Health Care

ItemCarrollNational avg.Difference
Optometrist $85.00$99.7814.8%
Doctor $110.00$105.034.7%
Dentist $79.00$88.7010.9%
Ibuprofen $9.32$9.411.0%
Lipitor $300.03$298.500.5%

Housing

ItemCarrollNational avg.Difference
Home Price $124,400.00$175,700.0029.2%
Avg. Mortgage Payment $1,077.99$1,081.030.3%
Apartment Rent $555.00$920.0039.7%

Transportation

ItemCarrollNational avg.Difference
Gasoline $1.93$2.097.7%
Tire Balancing $50.00$45.2910.4%

Utilities

ItemCarrollNational avg.Difference
All Electricity$152.96$170.8010.4%
Phone $22.40$28.2620.7%
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.
Ralston, IA8470-30%
Lanesboro, IA11171-29%
Dedham, IA22075-25%
Lidderdale, IA21375-25%
Auburn, IA26075-25%
Carroll, IA10,05183-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Valencia West, AZ10,05194-6%
Bellmead, TX10,05281-19%
Great Neck, NY10,05219595%
Plymouth, IN10,04881-19%
Benton Harbor, MI10,05679-21%
Carroll, IA10,05183-17%
Source: The Carroll, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.