| Index | Altoona | Iowa | National |
| Cost of living | 99 | 89 | 100 |
| Groceries | 96 | 97 | 100 |
| Health care | 94 | 96 | 100 |
| Housing | 108 | 74 | 100 |
| Transportation | 96 | 97 | 100 |
| Utilities | 92 | 95 | 100 |
| Lifestyle & Entertainment | 98 | 95 | 100 |
| Household Items | 99 | 97 | 100 |
| Education & Childcare | 91 | 94 | 100 |
Knowing the cost of living in Altoona allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Altoona stands at 99, marking it 1% lower than the national average.
The cost of living in Altoona aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Altoona residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Wondering if Altoona is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Altoona, for example, the median home price is 7.1% higher than what folks pay nationally, and monthly rent is 9.4% higher than the usual rates. Plus, income levels matter too, with Altoona boasting a median household income of $116,991, which is 43.8% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Altoona, the groceries index is 3.6% lower than the national average.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
The Altoona cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $140,213 | $11,684 | $3,271 | $4,207 |
| Renters | $74,376 | $6,198 | $1,735 | $2,232 |
| State | General Sales Tax | With Max Surtax |
| Iowa | 6% | 7% |
| State | Income Tax (Low) | Income Tax (High) |
| Iowa | 4.4% | 6% |
| City | Population | Cost of Living Index | National Avg. |
| Valeria, IA | 42 | 79 | 20.8% |
| Swan, IA | 47 | 79 | 21.1% |
| Mingo, IA | 311 | 83 | 16.9% |
| Colfax, IA | 1,935 | 87 | 12.7% |
| Hartford, IA | 730 | 88 | 11.6% |
| Altoona, IA | 19,348 | 99 | 1.0% |
| City | Population | Cost of Living Index | National Avg. |
| Claremore, OK | 19,346 | 90 | 9.6% |
| North Valley Stream, NY | 19,342 | 145 | 44.8% |
| Willimantic, CT | 19,354 | 101 | 1.0% |
| Middlesex Centre, ON | 19,332 | n/a | |
| Westbrook, ME | 19,325 | 110 | 10.4% |
| Altoona, IA | 19,348 | 99 | 1.0% |
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