An Overview of Cost of Living in Waukee, IA
Are you thinking about relocating, but curious about the potential cost of living in Waukee? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Waukee stands at 105, making it 5% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
The cost of living in Waukee is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.
Housing costs make up a big chunk of the cost of living in Waukee, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 30% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
What Do Locals Say About the Cost of Living in Waukee?
Locals have the inside scoop on their city. So, we polled 12 residents in Waukee to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 42% find it reasonable with decreasing prices, but 58% think it's quite pricey, with prices that continue to rise.
Is Waukee Affordable?
Is Waukee an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Waukee is 34.5% higher than the national average, while the average monthly rent prices are 19.4% higher than average. The affordability of any location can also be influenced by median income levels. Waukee has a median household income of $94,371, which is 70.6% higher than the national average.
What Factors can Influence the Cost of Living in Waukee?
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Waukee, the transportation index is 9.1% lower than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Waukee, the housing index stands at 30% higher than the national average.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Waukee, healthcare costs are 5.8% lower than the national average.
Where is the Data From?
The Waukee cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.
Here are the best places to live in Iowa
Check out the 10 safest cities in Iowa
These are the 10 most affordable cities in Iowa
Top 10 cities in Iowa with the best education system