| Index | Oskaloosa | Iowa | National |
| Cost of living | 84 | 89 | 100 |
| Groceries | 96 | 97 | 100 |
| Health care | 94 | 96 | 100 |
| Housing | 59 | 74 | 100 |
| Transportation | 96 | 97 | 100 |
| Utilities | 92 | 95 | 100 |
| Lifestyle & Entertainment | 98 | 95 | 100 |
| Household Items | 99 | 97 | 100 |
| Education & Childcare | 91 | 94 | 100 |
Understanding the cost of living in Oskaloosa can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Oskaloosa cost of living index is 84, which is 16% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
Housing expenses often consume a significant portion of your net income, occasionally surpassing 30%. Fortunately, housing costs in Oskaloosa are 41.3% below the national average. This highlights the region's exceptional affordability for both homeownership and rentals in comparison to the rest of the country. This favorable housing situation allows residents to allocate a more reasonable fraction of their income to housing, resulting in enhanced financial flexibility and improved overall financial well-being.
Is Oskaloosa 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 Oskaloosa, the median home price is 47.7% lower than what most folks pay across the country, and monthly rent prices are 26.2% lower than the usual rates. Income levels in Oskaloosa come in at $73,684, which is 9.4% lower than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Oskaloosa, the transportation index is 3.8% lower than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Oskaloosa, the baseline sales tax rate begins at 6%, and income tax rates start at 4.4%.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
The Oskaloosa cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $97,724 | $8,144 | $2,280 | $2,932 |
| Renters | $35,442 | $2,954 | $827 | $1,063 |
| 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. |
| Bussey, IA | 458 | 77 | 22.9% |
| What Cheer, IA | 729 | 78 | 21.7% |
| Gibson, IA | 31 | 79 | 21.3% |
| Hamilton, IA | 63 | 78 | 21.8% |
| Chillicothe, IA | 101 | 79 | 21.1% |
| Oskaloosa, IA | 12,090 | 84 | 15.7% |
| City | Population | Cost of Living Index | National Avg. |
| Portales, NM | 12,084 | 88 | 12.0% |
| Bogalusa, LA | 12,080 | 86 | 14.3% |
| Jerome, ID | 12,101 | 96 | 4.4% |
| North Wantagh, NY | 12,102 | 141 | 40.7% |
| Spearfish, SD | 12,076 | 103 | 2.9% |
| Oskaloosa, IA | 12,090 | 84 | 15.7% |
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