Iowa Falls, IA Cost Of Living

Iowa Falls cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Iowa Falls	Iowa	National
Cost of living index	80	89	100
Index	Iowa Falls	Iowa	National
Goods & Services index	90	95	100
Groceries index	91	94	100
Health care index	100	97	100
Housing index	52	73	100
Transportation index	107	99	100
Utilities index	80	95	100

Displayed above is a general overview of the Iowa Falls, IA cost of living index. The overall cost of living index in Iowa Falls, IA is 80, which is 10% lower than the Iowa average and 20% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Iowa Falls, IA are 5% lower than the Iowa average and 10% lower than the national average.

Did you know?

The cost of living in Iowa Falls is 10% lower than the Iowa average.
The cost of living in Iowa Falls is 20% lower than the national average.
The cost of housing in Iowa Falls is 48% lower than the national average.
Iowa general sales tax is 18% higher than the national average.
Iowa state income tax is 84% lower than the national average.

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Salary Calculator

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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

The salary calculator is meant to help you compare your salary in Iowa Falls, IA to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Iowa Falls, IA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Iowa Falls, IA salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$55,194	$4,600	$1,288	$1,656
Renters	$37,500	$3,125	$875	$1,125

One can approximate the cost of living and the housing affordability in Iowa Falls, IA by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Iowa Falls, IA have a median income of $55,194. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,288 per month to avoid calamity and poverty. The renters in the city have an income of about $37,500, which would make their monthly maximum allowable rental costs $875.

Iowa Sales Tax

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

Iowa Income Tax

State	Income Tax (Low)	Income Tax (High)
Iowa	0.36%	8.98%

When you are determining the total cost of living in Iowa Falls, IA you will want to make sure you consider both the Iowa sales tax and the Iowa income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Iowa is 6%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Iowa have a range from 0.36% to 8.98%.

Goods & Services

Item	Iowa Falls	National avg.	Difference
Haircut	$16.11	$16.09	0.2%
Beauty Salon	$32.70	$37.33	12.4%
Toothpaste	$1.84	$2.45	24.7%
Shampoo	$0.85	$1.00	15.4%
Movie	$8.74	$10.28	15.0%
Bowling	$5.00	$4.93	1.4%

Groceries

Item	Iowa Falls	National avg.	Difference
Ground Beef	$3.02	$3.80	20.7%
Fried Chicken	$1.53	$1.40	9.3%
Milk	$1.91	$2.01	4.7%
Potatoes	$1.96	$3.01	34.9%
Pizza	$8.71	$9.89	11.9%
Beer	$8.49	$8.90	4.6%

Health Care

Item	Iowa Falls	National avg.	Difference
Optometrist	$89.00	$102.16	12.9%
Doctor	$107.67	$108.36	0.6%
Dentist	$92.06	$92.53	0.5%
Ibuprofen	$9.31	$9.28	0.4%
Lipitor	$440.68	$425.82	3.5%

Housing

Item	Iowa Falls	National avg.	Difference
Home Price	$90,000.00	$184,700.00	51.3%
Avg. Mortgage Payment	$1,160.93	$1,202.44	3.5%
Apartment Rent	$559.00	$949.00	41.1%

Transportation

Item	Iowa Falls	National avg.	Difference
Gasoline	$2.32	$2.24	3.3%
Tire Balancing	$53.17	$46.29	14.9%

Utilities

Item	Iowa Falls	National avg.	Difference
All Electricity	$135.39	$165.96	18.4%
Phone	$22.40	$28.68	21.9%

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, State	Population	Cost of Living Index	National Avg.
Owasa, IA	54	92	-8%
Buckeye, IA	98	68	-32%
Popejoy, IA	48	71	-29%
Bradford, IA	62	75	-25%
Coulter, IA	214	76	-24%
Iowa Falls, IA	5,176	80	-20%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Sunset, UT	5,176	91	-9%
Offutt AFB, NE	5,176	101	1%
Evansville, WI	5,176	100	0%
Turpin Hills, OH	5,176	111	11%
Pine Manor, FL	5,175	79	-21%
Iowa Falls, IA	5,176	80	-20%

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

Iowa Falls, IA Cost of Living