Manchester cost of living index

Here we can see a simple outline of the cost of living in Manchester, IA. As you can see, with the average cost of living in Manchester, IA being 86, that puts it 3% lower than the average of Iowa and 14% 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 Manchester, 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 is used in order to provide a comparison of your current salary in Manchester, IA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Manchester, IA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Manchester, IA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Manchester, IA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Manchester, IA has a median income of about $63,276 for people who own homes. Based on that number, a person should spend a maximum of $1,476 on expenses related to housing. Renters have a slightly different median income, which is $24,375. Based on this average, renters should spend no more than $569 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Iowa Sales Tax

Iowa Income Tax

When considering the overall cost of living expenses in Manchester, 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 Manchester, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.