Nevada 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.
IndexNevadaIowaNational
Cost of living index8689100
IndexNevadaIowaNational
Goods & Services index9295100
Groceries index9395100
Health care index9798100
Housing index6873100
Transportation index10597100
Utilities index8196100
Displayed above is a general overview of the Nevada, IA cost of living index. The overall cost of living index in Nevada, IA is 86, which is 4% lower than the Iowa average and 14% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Nevada, IA are 3% lower than the Iowa average and 8% lower than the national average.

Did you know?

  • The cost of living in Nevada is 4% lower than the Iowa average.
  • The cost of living in Nevada is 14% lower than the national average.
  • The cost of housing in Nevada 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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Compare Nevada, 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
Using the salary calculator lets you compare the salary you earn in Nevada, IA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Nevada, IA, you have to earn a higher income in order to still have the same standard of living. To operate the Nevada, IA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$63,353$5,279$1,478$1,901
Renters$34,265$2,855$799$1,028
The affordability of the housing market in Nevada, IA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Nevada, IA homeowners, the median income is $63,353. This indicates that a monthly maximum of $1,478 should be spent by homeowners on all housing related costs. Renters have a median income of $34,265. This indicates that renters should have a maximum of $799 used for their rent related monthly costs.

Iowa Sales Tax

StateGeneral Sales TaxWith Max Surtax
Iowa6%7%

Iowa Income Tax

StateIncome Tax (Low)Income Tax (High)
Iowa0.36%8.98%
For those who live in Nevada, IA and want to know what the true cost of living is, they ought to look at both the Iowa income tax rate and the Iowa sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Iowa, the sales tax is 6%, while the most you'll pay in surtax is 7%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Iowa, the income tax rate ranges between 0.36% to 8.98%.

Goods & Services

ItemNevadaNational avg.Difference
Haircut $16.67$15.567.1%
Beauty Salon $28.94$36.1119.8%
Toothpaste $1.68$2.4732.1%
Shampoo $0.92$0.964.3%
Movie $9.00$10.1311.1%
Bowling $5.00$4.745.6%

Groceries

ItemNevadaNational avg.Difference
Ground Beef $3.27$3.9817.9%
Fried Chicken $1.81$1.4128.9%
Milk $1.88$2.069.1%
Potatoes $2.28$2.9823.4%
Pizza $8.51$9.4710.1%
Beer $8.28$8.795.8%

Health Care

ItemNevadaNational avg.Difference
Optometrist $87.00$101.0413.9%
Doctor $104.33$107.442.9%
Dentist $83.33$90.427.8%
Ibuprofen $9.40$9.281.3%
Lipitor $452.67$426.506.1%

Housing

ItemNevadaNational avg.Difference
Home Price $120,000.00$175,700.0031.7%
Avg. Mortgage Payment $1,114.01$1,133.231.7%
Apartment Rent $633.00$920.0031.2%

Transportation

ItemNevadaNational avg.Difference
Gasoline $1.99$1.990.1%
Tire Balancing $53.33$45.7616.5%

Utilities

ItemNevadaNational avg.Difference
All Electricity$136.46$163.8116.7%
Phone $22.40$28.3921.1%
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. Anthony, IA12579-21%
Zearing, IA63980-20%
Rhodes, IA31080-20%
McCallsburg, IA36582-18%
Colo, IA80583-17%
Nevada, IA6,79486-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Belle Plaine, MN6,79498-2%
Upper Sandusky, OH6,79287-13%
St. Gabriel, LA6,79688-12%
Marshfield, MO6,78983-17%
Salem, UT6,7891055%
Nevada, IA6,79486-14%
Source: The Nevada, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.