Here we can see a simple outline of the cost of living in Red Oak, IA. As you can see, with the average cost of living in Red Oak, IA being 80, that puts it 9% lower than the average of Iowa and 20% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Red Oak, IA, the price of goods and services are equal to the average of Iowa as well as 5% lower than the nation's average.