| Index | Fort Madison | Iowa | National |
| Cost of living | 86 | 89 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 99 | 96 | 100 |
| Housing | 55 | 74 | 100 |
| Transportation | 100 | 97 | 100 |
| Utilities | 99 | 95 | 100 |
| Lifestyle & Entertainment | 100 | 95 | 100 |
| Household Items | 101 | 97 | 100 |
| Education & Childcare | 95 | 94 | 100 |
Getting a feel for the cost of living in Fort Madison is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Fort Madison is 86, which is 14% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Housing expenses often consume a significant portion of your net income, occasionally surpassing 30%. Fortunately, housing costs in Fort Madison are 45.1% below the national average. This highlights the region's exceptional affordability for both homeownership and rentals in comparison to the rest of the country. This favorable housing situation allows residents to allocate a more reasonable fraction of their income to housing, resulting in enhanced financial flexibility and improved overall financial well-being.
Is Fort Madison an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Fort Madison is 54.6% lower than the national average, while the average monthly rent prices are 22.8% lower than average. The affordability of any location can also be influenced by median income levels. Fort Madison has a median household income of $66,560, which is 18.2% lower than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Fort Madison, the standard sales tax rate starts at 6%, and the income tax rates commence at 4.4%.
Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Fort Madison, the utilities index registers at 1.5% lower than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Fort Madison, the groceries index is 2.1% lower than the national average.
The Fort Madison 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 | $80,036 | $6,670 | $1,867 | $2,401 |
| Renters | $46,222 | $3,852 | $1,078 | $1,387 |
| 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. |
| Ferris, IL | 167 | 80 | 19.6% |
| Pontoosuc, IL | 112 | 81 | 19.4% |
| St. Francisville, MO | 267 | 81 | 18.8% |
| Lomax, IL | 382 | 82 | 18.0% |
| Montrose, IA | 876 | 84 | 15.7% |
| Fort Madison, IA | 10,650 | 86 | 14.5% |
| City | Population | Cost of Living Index | National Avg. |
| Quartz Hill, CA | 10,650 | 131 | 30.9% |
| Fife, WA | 10,650 | 127 | 27.1% |
| Miami Shores, FL | 10,653 | 148 | 48.2% |
| Bellefontaine Neighbors, MO | 10,655 | 84 | 16.2% |
| Lyons, IL | 10,644 | 101 | 0.8% |
| Fort Madison, IA | 10,650 | 86 | 14.5% |
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