Cost Of Living in Cresco, IA

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14%

Overall NAT. AVG.

0%

Goods & Services NAT. AVG.

45%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Cresco	Iowa	National
Cost of living	86	90	100
Goods & Services	100	96	100
Groceries	95	97	100
Health care	100	99	100
Housing	55	73	100
Transportation	96	98	100
Utilities	104	96	100

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Cost Of Living Quick Facts

The cost of living in Cresco is 4% lower than the Iowa average
The cost of living in Cresco is 14% lower than the national average
Cresco housing is 45% lower than the national average
Iowa general sales tax is 18% higher than the national average
Iowa state income tax is 69% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$58,185	$4,849	$1,358	$1,746
Renters	$34,390	$2,866	$802	$1,032

A good indicator of the general affordability of housing in Cresco, IA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Cresco, the median monthly income is $58,185 for those who own their own homes. Under the standard rule, that income level would allow for $1,358 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $34,390, per the median income in the area. That would allow for renters to spend up to $802 on monthly rental expenses.

Iowa Sales Tax

State	General Sales Tax	With Max Surtax
Iowa	6%	7%

Iowa Income Tax

State	Income Tax (Low)	Income Tax (High)
Iowa	4.4%	6%

Goods & Services

Item	Cresco	National avg.	Difference
Haircut	$32.91	$24.26	35.6%
Beauty Salon	$35.27	$45.56	22.6%
Toothpaste	$3.74	$3.70	1.1%
Shampoo	$1.24	$1.28	3.0%
Movie	$10.32	$12.13	15.0%
Bowling	$10.28	$18.00	42.9%

Groceries

Item	Cresco	National avg.	Difference
Ground Beef	$5.27	$5.84	9.7%
Fried Chicken	$1.42	$1.57	9.8%
Milk	$4.56	$4.67	2.4%
Potatoes	$5.01	$4.93	1.6%
Pizza	$11.94	$12.09	1.3%
Beer	$9.82	$10.41	5.7%

Health Care

Item	Cresco	National avg.	Difference
Optometrist	$87.93	$125.68	30.0%
Doctor	$153.18	$135.78	12.8%
Dentist	$105.03	$113.29	7.3%
Ibuprofen	$10.25	$10.65	3.8%
Lipitor	$501.86	$468.60	7.1%

Housing

Item	Cresco	National avg.	Difference
Home Price	$84,900.00	$184,700.00	54.0%
Avg. Mortgage Payment	$2,232.06	$2,346.69	4.9%
Apartment Rent	$730.00	$949.00	23.1%

Transportation

Item	Cresco	National avg.	Difference
Gasoline	$3.39	$3.46	2.1%
Tire Balancing	$54.83	$59.92	8.5%

Utilities

Item	Cresco	National avg.	Difference
All Electricity	$209.45	$193.99	8.0%
Phone	$187.72	$192.25	2.4%

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	Population	Cost of Living Index	National Avg.
Chester, IA	151	80	19.5%
Canton, MN	444	83	17.4%
Protivin, IA	373	75	24.9%
Lime Springs, IA	627	84	16.1%
Ridgeway, IA	258	78	21.7%
Cresco, IA	3,751	86	14.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Falmouth, MA	3,751	151	51.0%
Kittanning, PA	3,751	85	15.3%
West Liberty, IA	3,750	91	8.7%
North Baltimore, OH	3,752	89	10.9%
Lamont County, AB	3,752	n/a
Cresco, IA	3,751	86	14.1%