Winterset, Iowa Cost Of Living

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Overall 11%

Goods & Services 7%

Housing 22%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Winterset	Iowa	National
Cost of living	89	90	100
Goods & Services	93	96	100
Groceries	95	98	100
Health care	96	100	100
Housing	78	73	100
Transportation	102	101	100
Utilities	89	98	100

Key findings

The cost of living in Winterset is 1% lower than the Iowa average
The cost of living in Winterset is 11% lower than the national average
Winterset housing is 22% lower than the national average
Iowa general sales tax is 18% higher than the national average
Iowa state income tax is 87% lower than the national average

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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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$56,250	$4,688	$1,312	$1,688
Renters	$31,587	$2,632	$737	$948

A good way to judge both the affordability of the housing and the cost of living in Winterset is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Winterset has a median income of about $56,250 for people who own homes. Based on that number, a maximum of $1,312 should be spent on expenses related to housing. Renters have a slightly different median income, which is $31,587. Based on this average, renters should spend no more than $737 on all rental costs if they want to maintain a non-impoverished standard of living.

Iowa Sales Tax

State	General Sales Tax	With Max Surtax
Iowa	6%	7%

Iowa Income Tax

State	Income Tax (Low)	Income Tax (High)
Iowa	0.33%	8.53%

Goods & Services

Item	Winterset	National avg.	Difference
Haircut	$17.17	$17.49	1.8%
Beauty Salon	$31.00	$38.17	18.8%
Toothpaste	$1.94	$2.32	16.4%
Shampoo	$1.07	$1.01	5.7%
Movie	$9.06	$10.72	15.5%
Bowling	$17.60	$13.86	27.0%

Groceries

Item	Winterset	National avg.	Difference
Ground Beef	$3.23	$3.90	17.2%
Fried Chicken	$1.71	$1.40	22.5%
Milk	$2.22	$1.96	13.1%
Potatoes	$2.20	$3.18	30.9%
Pizza	$9.99	$10.39	3.9%
Beer	$8.50	$9.23	7.9%

Health Care

Item	Winterset	National avg.	Difference
Optometrist	$114.14	$106.34	7.3%
Doctor	$123.00	$115.25	6.7%
Dentist	$81.17	$98.38	17.5%
Ibuprofen	$8.31	$9.26	10.3%
Lipitor	$492.84	$466.47	5.7%

Housing

Item	Winterset	National avg.	Difference
Home Price	$139,500.00	$184,700.00	24.5%
Avg. Mortgage Payment	$1,109.95	$1,273.32	12.8%
Apartment Rent	$789.00	$949.00	16.9%

Transportation

Item	Winterset	National avg.	Difference
Gasoline	$2.61	$2.59	0.5%
Tire Balancing	$52.99	$48.90	8.4%

Utilities

Item	Winterset	National avg.	Difference
All Electricity	$137.97	$167.60	17.7%
Phone	$176.49	$163.42	8.0%

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.
East Peru, IA	98	77	-23%
Bevington, IA	54	81	-19%
Patterson, IA	175	82	-18%
Macksburg, IA	121	82	-18%
Martensdale, IA	452	83	-17%
Winterset, IA	5,158	89	-11%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Broadmoor, CA	5,159	182	82%
Olyphant, PA	5,156	95	-5%
Grafton, WV	5,156	79	-21%
Williams, CA	5,160	107	7%
Daleville, AL	5,160	86	-14%
Winterset, IA	5,158	89	-11%

Source: The Winterset, IA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.