Marshalltown, IA Cost Of Living

Marshalltown 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	Marshalltown	Iowa	National
Cost of living index	81	89	100
Index	Marshalltown	Iowa	National
Goods & Services index	90	95	100
Groceries index	91	94	100
Health care index	100	97	100
Housing index	57	73	100
Transportation index	107	99	100
Utilities index	80	95	100

The above illustration supplies generalized information for the Marshalltown, IA cost of living index. Compared to other cities in Iowa and cities across the country, the cost of living index in Marshalltown, IA is 81, which is 8% lower than the Iowa average and 19% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Marshalltown, IA are 5% lower than the average for Iowa and 10% lower than the rest of the country.

Did you know?

The cost of living in Marshalltown is 8% lower than the Iowa average.
The cost of living in Marshalltown is 19% lower than the national average.
The cost of housing in Marshalltown is 43% 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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Compare Marshalltown, IA Cost of living To Other Cities

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

Using the salary calculator lets you compare the salary you earn in Marshalltown, IA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Marshalltown, IA, you have to earn a higher income in order to still have the same standard of living. To operate the Marshalltown, IA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$57,484	$4,790	$1,341	$1,725
Renters	$33,566	$2,797	$783	$1,007

The affordability of the housing market in Marshalltown, IA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Marshalltown, IA homeowners, the median income is $57,484. This indicates that a monthly maximum of $1,341 should be spent by homeowners on all housing related costs. Renters have a median income of $33,566. This indicates that renters should have a maximum of $783 used for their rent related monthly 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	0.36%	8.98%

For those who live in Marshalltown, IA and want to know what the true cost of living is, they ought to look at both the Iowa income tax rate and the Iowa sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Iowa, the sales tax is 6%, while the most you'll pay in surtax is 7%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Iowa, the income tax rate ranges between 0.36% to 8.98%.

Goods & Services

Item	Marshalltown	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	Marshalltown	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	Marshalltown	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	Marshalltown	National avg.	Difference
Home Price	$98,800.00	$184,700.00	46.5%
Avg. Mortgage Payment	$1,160.93	$1,202.44	3.5%
Apartment Rent	$633.00	$949.00	33.3%

Transportation

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

Utilities

Item	Marshalltown	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.
Green Mountain, IA	120	79	-21%
Liscomb, IA	291	76	-24%
Union, IA	487	76	-24%
Laurel, IA	358	77	-23%
Ferguson, IA	137	77	-23%
Marshalltown, IA	27,637	81	-19%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Garner, NC	27,625	99	-1%
Kirkwood, MO	27,614	108	8%
Crofton, MD	27,663	141	41%
Forest Hills, MI	27,667	112	12%
Maywood, CA	27,672	125	25%
Marshalltown, IA	27,637	81	-19%

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

Marshalltown, IA Cost of Living