Oelwein 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.
IndexOelweinIowaNational
Cost of living index8189100
IndexOelweinIowaNational
Goods & Services index10195100
Groceries index8695100
Health care index9898100
Housing index4273100
Transportation index10797100
Utilities index9296100
Displayed above is a general overview of the Oelwein, IA cost of living index. The overall cost of living index in Oelwein, IA is 81, which is 9% lower than the Iowa average and 19% 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 Oelwein, IA are 6% higher than the Iowa average and 1% higher than the national average.

Did you know?

  • The cost of living in Oelwein is 9% lower than the Iowa average.
  • The cost of living in Oelwein is 19% lower than the national average.
  • The cost of housing in Oelwein is 58% 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 Oelwein, IA Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Oelwein, 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 Oelwein, IA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Oelwein, 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$46,767$3,897$1,091$1,403
Renters$27,500$2,292$642$825
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Oelwein, IA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Oelwein, IA has a median income of about $46,767 for people who own homes. Based on that number, a person should spend a maximum of $1,091 on expenses related to housing. Renters have a slightly different median income, which is $27,500. Based on this average, renters should spend no more than $642 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 Oelwein, 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

ItemOelweinNational avg.Difference
Haircut $13.00$15.5616.5%
Beauty Salon $32.33$36.1110.4%
Toothpaste $1.74$2.4729.5%
Shampoo $0.99$0.962.2%
Movie $11.17$10.1310.3%
Bowling $3.50$4.7426.1%

Groceries

ItemOelweinNational avg.Difference
Ground Beef $3.35$3.9816.0%
Fried Chicken $1.43$1.411.6%
Milk $1.82$2.0611.6%
Potatoes $2.84$2.984.9%
Pizza $8.99$9.475.1%
Beer $8.02$8.798.8%

Health Care

ItemOelweinNational avg.Difference
Optometrist $130.00$101.0428.7%
Doctor $104.00$107.443.2%
Dentist $82.61$90.428.6%
Ibuprofen $8.22$9.2811.4%
Lipitor $440.79$426.503.4%

Housing

ItemOelweinNational avg.Difference
Home Price $62,300.00$175,700.0064.5%
Avg. Mortgage Payment $1,051.63$1,133.237.2%
Apartment Rent $529.00$920.0042.5%

Transportation

ItemOelweinNational avg.Difference
Gasoline $2.24$1.9912.6%
Tire Balancing $42.64$45.766.8%

Utilities

ItemOelweinNational avg.Difference
All Electricity$156.98$163.814.2%
Phone $25.07$28.3911.7%
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.
Stanley, IA9776-24%
Randalia, IA5679-21%
Westgate, IA27380-20%
Hazleton, IA81181-19%
Maynard, IA54181-19%
Oelwein, IA6,32181-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lincoln, AL6,32189-11%
Pea Ridge, WV6,32190-10%
Johnsburg, IL6,3221099%
Johnson Lane, NV6,31913030%
Southold, NY6,32315656%
Oelwein, IA6,32181-19%
Source: The Oelwein, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.