Red Oak 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.
IndexRed OakIowaNational
Cost of living index8188100
IndexRed OakIowaNational
Goods & Services index9593100
Groceries index9595100
Health care index10296100
Housing index4873100
Transportation index9697100
Utilities index9199100
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 81, that puts it 9% lower than the average of Iowa and 19% 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 2% higher than the average of Iowa as well as 5% lower than the nation's average.

Did you know?

  • The cost of living in Red Oak is 9% lower than the Iowa average.
  • The cost of living in Red Oak is 19% lower than the national average.
  • The cost of housing in Red Oak is 52% 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

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
The salary calculator allows you to compare how much your current salary in Red Oak, IA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Red Oak, IA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Red Oak, IA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$45,929$3,827$1,072$1,378
Renters$22,208$1,851$518$666
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Red Oak, IA, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Red Oak, IA homeowners have a median income of $45,929. Using that number, you will come up with a maximum of $1,072 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $22,208, which means there is a maximum of $518 to be spent on the costs of renting a home or apartment.

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 Red Oak, 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

ItemRed OakNational 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

ItemRed OakNational 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

ItemRed OakNational 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

ItemRed OakNational avg.Difference
Home Price $68,400.00$175,700.0061.1%
Avg. Mortgage Payment $887.51$1,081.0317.9%
Apartment Rent $632.00$920.0031.3%

Transportation

ItemRed OakNational avg.Difference
Gasoline $1.92$2.098.0%
Tire Balancing $47.97$45.295.9%

Utilities

ItemRed OakNational 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.
Imogene, IA5670-30%
Grant, IA5172-28%
Hepburn, IA6173-27%
Coburg, IA4775-25%
Henderson, IA17176-24%
Red Oak, IA5,64481-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Yarmouth, ME5,64512323%
New Whiteland, IN5,64690-10%
Buckhannon, WV5,64693-7%
Iola, KS5,65079-21%
Atlanta, TX5,63886-14%
Red Oak, IA5,64481-19%
Source: The Red Oak, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.