Cost of living in Iowa City 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 Iowa City 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 Iowa City is 102, with 100 being the average.
The cost of living index in Iowa City is 1.0x higher than the national average.
Iowa City ranks as the #77 cheapest in Iowa out of 80.
Iowa City ranks as the #3,380 cheapest out of 6,412 in the US.
The median home value in Iowa City is $230,700.
The median income in Iowa City is $51,925.
According to the most recent data on the cost of living, Iowa City has an overall cost of living index of 102, which is 1.0x higher than the national index of 100.
Compared to Iowa, Iowa City has a cost of living index that's 1.1x higher than Iowa's index of 89.
The standard of living in Iowa City ranks as #77 most affordable out of the 80 places we measured in Iowa. By definition, that implies Iowa City ranks as the #3 most expensive place in the Hawkeye State.
For more reading on life in Iowa City, check out:
Six factors go into calculating the cost of living index in Iowa City. Here is how it fairs on each of the criteria:
The Services index in Iowa City is 103.
The Groceries index in Iowa City is 99.
The Health index in Iowa City is 97.
The Housing index in Iowa City is 101.
The Transportation index in Iowa City is 120.
The Utilities index in Iowa City is 89.
|Living Expense||Iowa City||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 Iowa City is $230,700.
The Median Rent in Iowa City is $1,030.
The Median Income in Iowa City is $51,925.
The Home Value To Income in Iowa City is 4.4x.
The Rent To Monthly Income in Iowa City is 0.24x.
|Statistic||Iowa City||Iowa||United States|
|Median Home Value||$230,700||$160,700||$244,900|
|Home Value To Income||4.4x||2.5x||3.5x|
|Rent To Monthly Income||0.24x||0.15x||0.2x|