Carter Lake 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.
IndexCarter LakeIowaNational
Cost of living index8688100
IndexCarter LakeIowaNational
Goods & Services index9593100
Groceries index9595100
Health care index10296100
Housing index6673100
Transportation index9697100
Utilities index9199100
A general summary of the cost of living index in Carter Lake, IA is shown above. Compared to the state average of Iowa the cost of living index in Carter Lake, IA is 86, which is 2% lower than the average in Iowa and compared to the national average it is 14% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Carter Lake, IA goods and services come in at 2% higher than the average in Iowa and are 5% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Carter Lake is 2% lower than the Iowa average.
  • The cost of living in Carter Lake is 14% lower than the national average.
  • The cost of housing in Carter Lake is 34% 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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Compare Carter Lake, IA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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The salary calculator is meant to help you compare your salary in Carter Lake, IA to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Carter Lake, IA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Carter Lake, IA salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$50,625$4,219$1,181$1,519
Renters$41,793$3,483$975$1,254
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Carter Lake, 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 Carter Lake, IA homeowners, is $50,625. This would allow for a maximum of $1,181 per month to be spent on housing costs. For renters, the median monthly income is $41,793 which would result in a maximum of $975 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%
The Iowa sales tax and Iowa income tax rates should definitely be considered when determining the overall cost of living in Carter Lake, IA. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Iowa sales tax is 6% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Iowa income tax rates range from 0.36% to 8.98%.

Goods & Services

ItemCarter LakeNational avg.Difference
Haircut $15.83$14.598.5%
Beauty Salon $28.50$34.6817.8%
Toothpaste $2.36$2.474.6%
Shampoo $0.90$1.0211.9%
Movie $9.79$9.870.8%
Bowling $3.61$4.3917.8%

Groceries

ItemCarter LakeNational avg.Difference
Ground Beef $4.53$4.481.2%
Fried Chicken $1.47$1.460.4%
Milk $2.33$2.361.1%
Potatoes $2.80$3.068.5%
Pizza $8.99$9.242.7%
Beer $7.90$8.638.5%

Health Care

ItemCarter LakeNational avg.Difference
Optometrist $102.40$99.782.6%
Doctor $136.00$105.0329.5%
Dentist $73.25$88.7017.4%
Ibuprofen $9.30$9.411.2%
Lipitor $306.52$298.502.7%

Housing

ItemCarter LakeNational avg.Difference
Home Price $91,700.00$175,700.0047.8%
Avg. Mortgage Payment $887.51$1,081.0317.9%
Apartment Rent $913.00$920.000.8%

Transportation

ItemCarter LakeNational avg.Difference
Gasoline $1.92$2.098.0%
Tire Balancing $47.97$45.295.9%

Utilities

ItemCarter LakeNational avg.Difference
All Electricity$157.32$170.807.9%
Phone $24.99$28.2611.6%
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.
Loveland, IA3795-5%
Richfield, NE16695-5%
Boys Town, NE91495-5%
La Platte, NE9268-32%
Mineola, IA15281-19%
Carter Lake, IA3,77186-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Shark River Hills, NJ3,77013333%
Polk City, IA3,77097-3%
Lafayette, OR3,77011010%
Northumberland, PA3,77294-6%
Pixley, CA3,76996-4%
Carter Lake, IA3,77186-14%
Source: The Carter Lake, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.