| Index | Newton | Iowa | National |
| Cost of living | 88 | 89 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 94 | 96 | 100 |
| Housing | 71 | 74 | 100 |
| Transportation | 95 | 97 | 100 |
| Utilities | 97 | 95 | 100 |
| Lifestyle & Entertainment | 91 | 95 | 100 |
| Household Items | 97 | 97 | 100 |
| Education & Childcare | 98 | 94 | 100 |
Getting a feel for the cost of living in Newton is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Newton is 88, which is 12% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Newton. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 20% found it budget-friendly with decreasing prices, while 80% said it's simply not affordable as prices have continued to rise.
Is Newton affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Newton, the median home price is 31.9% lower than the national average and monthly rent prices are 21.7% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Newton boasting a median household income of $71,623, 11.9% lower than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Newton starts at 6% and the income tax rates start at 4.4%.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Newton, the housing index comes in at 28.9% lower than the national average.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Newton, the utilities index registers 3% lower than the national average.
The cost of living data for Newton shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
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| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $84,770 | $7,064 | $1,978 | $2,543 |
| Renters | $40,800 | $3,400 | $952 | $1,224 |
| State | General Sales Tax | With Max Surtax |
| Iowa | 6% | 7% |
| State | Income Tax (Low) | Income Tax (High) |
| Iowa | 4.4% | 6% |
| City | Population | Cost of Living Index | National Avg. |
| Valeria, IA | 42 | 79 | 20.8% |
| Gilman, IA | 555 | 81 | 19.4% |
| Laurel, IA | 200 | 81 | 18.9% |
| Kellogg, IA | 666 | 82 | 18.0% |
| Mingo, IA | 311 | 83 | 16.9% |
| Newton, IA | 15,563 | 88 | 11.6% |
| City | Population | Cost of Living Index | National Avg. |
| Tonawanda city, NY | 15,560 | 94 | 5.6% |
| Greenwood Village, CO | 15,570 | 199 | 99.0% |
| Weston, WI | 15,555 | 95 | 4.7% |
| St. Augustine, FL | 15,581 | 116 | 16.5% |
| Graham, NC | 15,581 | 93 | 7.0% |
| Newton, IA | 15,563 | 88 | 11.6% |
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