Hiawatha cost of living index

Here we can see a simple outline of the cost of living in Hiawatha, IA. As you can see, with the average cost of living in Hiawatha, IA being 92, that puts it 4% higher than the average of Iowa and 8% 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 Hiawatha, IA, the price of goods and services are equal to the average of Iowa as well as 5% lower than the nation's average.

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Salary Calculator

The salary calculator allows you to compare how much your current salary in Hiawatha, 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 Hiawatha, IA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hiawatha, 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

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Hiawatha, IA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Hiawatha, IA homeowners, is $57,351. This would allow for a maximum of $1,338 per month to be spent on housing costs. For renters, the median monthly income is $32,486 which would result in a maximum of $758 to be spent on rental costs.

Iowa Sales Tax

Iowa Income Tax

When considering the overall cost of living expenses in Hiawatha, IA, it's important to take into account the sales tax for Iowa, as well as the rate for income tax in Iowa. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Iowa is 7%, and the sales tax in the state of Iowa is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Iowa starts from 0.36% and goes up to 8.98%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Hiawatha, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.