Cost of Living in Independence, IA

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11%
Overall NAT. AVG.
4%
Groceries NAT. AVG.
27%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Independence Iowa National
Cost of living8989100
Groceries9697100
Health care9896100
Housing7374100
Transportation9897100
Utilities9695100
Lifestyle & Entertainment9495100
Household Items9997100
Education & Childcare9094100
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Homes For Sale In Independence, IA

property for sale

714 6th St NE

Independence, IA
property for sale

718 5th St NE

Independence, IA
property for sale

308 4th Ave NW

Independence, IA
property for sale

713 Spruce Dr SW

Independence, IA
See the Newest Homes For Sale In Independence, IA

Cost Of Living Quick Facts

  • The cost of living in Independence is 1% lower than the Iowa average
  • The cost of living in Independence is 11% lower than the national average
  • Independence housing is 27% 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

Most Affordable Places to Live in and Around Independence

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Compare Independence, IA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$114,613$9,551$2,674$3,439
      Renters$40,915$3,410$955$1,228
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Independence, IA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Independence, homeowners have a median income of $114,613. Using that number, a maximum of $2,674 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $40,915, which means there is a maximum of $955 to be spent on the costs of renting a home or apartment.

      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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Stanley, IA1337525.1%
      Mount Auburn, IA1618119.2%
      Hazleton, IA7918118.6%
      Lamont, IA5318218.3%
      Oelwein, IA6,0658316.9%
      Independence, IA6,2868911.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Violet, LA6,286955.0%
      Hockinson, WA6,28515049.9%
      Sheridan, OR6,2881054.7%
      Munford, TN6,2891010.7%
      South Williamsport, PA6,281945.7%
      Independence, IA6,2868911.1%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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