| Index | Grimes | Iowa | National |
| Cost of living | 102 | 89 | 100 |
| Groceries | 100 | 97 | 100 |
| Health care | 97 | 96 | 100 |
| Housing | 113 | 74 | 100 |
| Transportation | 98 | 97 | 100 |
| Utilities | 97 | 95 | 100 |
| Lifestyle & Entertainment | 98 | 95 | 100 |
| Household Items | 96 | 97 | 100 |
| Education & Childcare | 97 | 94 | 100 |
Knowing the cost of living in Grimes 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 Grimes stands at 102, marking it 2% higher than the national average.
In Grimes, daily expenses such as food, housing, lifestyle expenses, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Grimes will resemble that of an average city, contributing to a manageable cost of living.
Is Grimes affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Grimes, the median home price is 18.6% higher than the national average and monthly rent prices are 1.7% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Grimes boasting a median household income of $130,546, 60.5% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Grimes, the transportation index is 1.6% lower than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Grimes comes in at 2.7% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Grimes, healthcare costs are 2.8% lower than the national average.
The cost of living estimates displayed for Grimes are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| 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 | $137,669 | $11,472 | $3,212 | $4,130 |
| Renters | $123,706 | $10,309 | $2,886 | $3,712 |
| 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. |
| Bouton, IA | 169 | 80 | 20.3% |
| Minburn, IA | 413 | 88 | 11.6% |
| Elkhart, IA | 709 | 91 | 9.2% |
| Madrid, IA | 2,660 | 90 | 9.9% |
| Woodward, IA | 1,280 | 91 | 8.5% |
| Grimes, IA | 14,059 | 102 | 2.2% |
| City | Population | Cost of Living Index | National Avg. |
| Monticello, MN | 14,058 | 105 | 5.4% |
| Beauharnois, QC | 14,056 | n/a | |
| Kailua CDP (Hawaii County), HI | 14,062 | 142 | 42.2% |
| Mississippi Mills, ON | 14,064 | n/a | |
| Holly Springs, GA | 14,053 | 116 | 15.5% |
| Grimes, IA | 14,059 | 102 | 2.2% |
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