A+
16%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
50%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Keokuk Iowa National
Cost of living8490100
Goods & Services9696100
Groceries9597100
Health care10499100
Housing5073100
Transportation10098100
Utilities11396100

An Overview of Cost of Living in Keokuk, IA

Are you thinking about relocating, but curious about the potential cost of living in Keokuk? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Keokuk stands at 84, making it 16% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Keokuk housing costs are 49.5% less than the national average, making this area an affordable place to live. Your net income can be heavily impacted by housing expenses, at times exceeding 30%. Fortunately, this area demonstrates that both homeownership and renting costs are significantly more budget-friendly than in the rest of the country. With such favorable housing affordability, Keokuk residents can earmark a more manageable portion of their income to housing.

Is Keokuk Affordable?

Is Keokuk an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Keokuk, the median home price is 59.2% lower than what most folks pay across the country, and monthly rent prices are 27.1% lower than the usual rates. Income levels in Keokuk come in at $43,304, which is 21.7% lower than the national average.

What Factors can Influence the Cost of Living in Keokuk?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Keokuk, the general sales tax rate starts at 6%, and income tax rates begin at 0.33%.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Where is the Data From?

The Keokuk cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

New Real Estate Listings in Keokuk Area
Search Homes for Sale in Keokuk, IA

Cost Of Living Quick Facts

  • The cost of living in Keokuk is 6% lower than the Iowa average
  • The cost of living in Keokuk is 16% lower than the national average
  • Keokuk housing is 50% lower than the national average
  • Iowa general sales tax is 18% higher than the national average
  • Iowa state income tax is 85% lower than the national average

Most Affordable Places to Live in and Around Keokuk

See all the best places to live around Keokuk

Compare Keokuk, IA Cost of Living

      vs
      How would you rate the cost of living in Keokuk?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Keokuk?
      Write a review to give others more information about this area.
      See all Keokuk poll results

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$55,793$4,649$1,302$1,674
      Renters$22,654$1,888$529$680
      A good way to judge both the affordability of the housing and the cost of living in Keokuk is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Keokuk has a median income of about $55,793 for people who own homes. Based on that number, a maximum of $1,302 should be spent on expenses related to housing. Renters have a slightly different median income, which is $22,654. Based on this average, renters should spend no more than $529 on all rental costs if they want to maintain a non-impoverished standard of living.

      Iowa Sales Tax

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

      Iowa Income Tax

      State Income Tax (Low) Income Tax (High)
      Iowa 0.33% 8.53%

      Goods & Services

      Item Keokuk National avg. Difference
      Haircut $18.13$24.2625.3%
      Beauty Salon $28.00$45.5638.5%
      Toothpaste $3.84$3.703.8%
      Shampoo $1.30$1.281.3%
      Movie $9.83$12.1319.0%
      Bowling $11.95$18.0033.6%

      Groceries

      Item Keokuk National avg. Difference
      Ground Beef $5.55$5.845.0%
      Fried Chicken $1.41$1.5710.6%
      Milk $4.72$4.671.0%
      Potatoes $4.74$4.934.0%
      Pizza $12.79$12.095.8%
      Beer $9.83$10.415.6%

      Health Care

      Item Keokuk National avg. Difference
      Optometrist $120.50$125.684.1%
      Doctor $171.88$135.7826.6%
      Dentist $97.53$113.2913.9%
      Ibuprofen $10.43$10.652.1%
      Lipitor $506.88$468.608.2%

      Housing

      Item Keokuk National avg. Difference
      Home Price $75,400.00$184,700.0059.2%
      Avg. Mortgage Payment $1,420.60$2,346.6939.5%
      Apartment Rent $692.00$949.0027.1%

      Transportation

      Item Keokuk National avg. Difference
      Gasoline $3.37$3.462.5%
      Tire Balancing $62.78$59.924.8%

      Utilities

      Item Keokuk National avg. Difference
      All Electricity $229.59$193.9918.3%
      Phone $200.45$192.254.3%
      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 Population Cost of Living Index National Avg.
      Basco, IL857524.7%
      West Point, IL2197623.6%
      Alexandria, MO1057623.5%
      Revere, MO357722.5%
      Elvaston, IL1518020.2%
      Keokuk, IA10,2258415.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Browns Mills, NJ10,2281044.2%
      Lincoln Park, NJ10,22012424.0%
      West Haverstraw, NY10,22012323.1%
      Newberry, SC10,2198911.2%
      Elgin, TX10,231964.3%
      Keokuk, IA10,2258415.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.