Knoxville, Iowa Cost Of Living

Buy Rent

A

Overall 20%

Goods & Services 10%

Housing 46%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Knoxville	Iowa	National
Cost of living	80	89	100
Goods & Services	90	94	100
Groceries	99	98	100
Health care	92	100	100
Housing	54	73	100
Transportation	93	98	100
Utilities	86	95	100

Key findings

The cost of living in Knoxville is 10% lower than the Iowa average
The cost of living in Knoxville is 20% lower than the national average
Knoxville housing is 46% lower than the national average
Iowa general sales tax is 18% higher than the national average
Iowa state income tax is 87% lower than the national average

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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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$58,523	$4,877	$1,365	$1,756
Renters	$22,477	$1,873	$524	$674

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Knoxville, 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 Knoxville homeowners, is $58,523. This would allow for a maximum of $1,365 per month to be spent on housing costs. For renters, the median monthly income is $22,477 which would result in a maximum of $524 to be spent on rental costs.

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	Knoxville	National avg.	Difference
Haircut	$18.13	$20.27	10.5%
Beauty Salon	$32.12	$40.39	20.5%
Toothpaste	$1.77	$2.36	24.9%
Shampoo	$1.16	$1.08	8.2%
Movie	$9.50	$10.99	13.6%
Bowling	$18.53	$15.49	19.6%

Groceries

Item	Knoxville	National avg.	Difference
Ground Beef	$3.49	$4.30	18.8%
Fried Chicken	$1.57	$1.40	12.1%
Milk	$2.34	$2.20	6.1%
Potatoes	$2.65	$3.22	17.6%
Pizza	$10.15	$10.74	5.5%
Beer	$9.18	$9.60	4.3%

Health Care

Item	Knoxville	National avg.	Difference
Optometrist	$115.02	$109.73	4.8%
Doctor	$115.47	$118.34	2.4%
Dentist	$80.69	$100.94	20.1%
Ibuprofen	$8.79	$9.93	11.5%
Lipitor	$478.90	$469.53	2.0%

Housing

Item	Knoxville	National avg.	Difference
Home Price	$93,800.00	$184,700.00	49.2%
Avg. Mortgage Payment	$993.05	$1,229.62	19.2%
Apartment Rent	$575.00	$949.00	39.4%

Transportation

Item	Knoxville	National avg.	Difference
Gasoline	$2.38	$2.71	12.1%
Tire Balancing	$52.56	$51.86	1.4%

Utilities

Item	Knoxville	National avg.	Difference
All Electricity	$129.70	$170.84	24.1%
Phone	$184.26	$187.18	1.6%

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.
Marysville, IA	103	92	8.3%
Swan, IA	69	74	26.0%
Hamilton, IA	112	74	26.0%
Bussey, IA	578	74	25.6%
Harvey, IA	290	75	24.8%
Knoxville, IA	7,236	80	19.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Celina, TX	7,236	112	12.1%
Devon, AB	7,236	n/a
Etowah, NC	7,237	101	1.2%
Lampasas, TX	7,238	80	20.3%
Lake Lorraine, FL	7,233	107	6.5%
Knoxville, IA	7,236	80	19.7%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.