Cost of living in Clear Lake research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Clear Lake is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Iowa, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Clear Lake is 90, with 100 being the average.
The cost of living index in Clear Lake is 0.9x lower than the national average.
Clear Lake ranks as the #48 cheapest in Iowa out of 80.
Clear Lake ranks as the #1,633 cheapest out of 6,412 in the US.
The median home value in Clear Lake is $191,000.
The median income in Clear Lake is $61,036.
According to the most recent data on the cost of living, Clear Lake has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Iowa, Clear Lake has a cost of living index that's 1.0x higher than Iowa's index of 89.
The standard of living in Clear Lake ranks as #48 most affordable out of the 80 places we measured in Iowa. By definition, that implies Clear Lake ranks as the #32 most expensive place in the Hawkeye State.
For more reading on life in Clear Lake, check out:
Six factors go into calculating the cost of living index in Clear Lake. Here is how it fairs on each of the criteria:
The Services index in Clear Lake is 97.
The Groceries index in Clear Lake is 88.
The Health index in Clear Lake is 100.
The Housing index in Clear Lake is 71.
The Transportation index in Clear Lake is 92.
The Utilities index in Clear Lake is 111.
|Living Expense||Clear Lake||Iowa||National Average|
Housing swings affordability the most between places in Iowa, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Clear Lake is $191,000.
The Median Rent in Clear Lake is $676.
The Median Income in Clear Lake is $61,036.
The Home Value To Income in Clear Lake is 3.1x.
The Rent To Monthly Income in Clear Lake is 0.13x.
|Statistic||Clear Lake||Iowa||United States|
|Median Home Value||$191,000||$160,700||$244,900|
|Home Value To Income||3.1x||2.5x||3.5x|
|Rent To Monthly Income||0.13x||0.15x||0.2x|
The cost of living varies in the cities and towns around Clear Lake. Here's a quick look at the cost of living in the most populous nearby places:
Austin, MN has a cost of living index of 84, 0.9x Clear Lake.
Albert Lea, MN has a cost of living index of 85, 0.9x Clear Lake.
Portland, IN has a cost of living index of 72, 0.8x Clear Lake.