Cost of living in Red Oak 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 Red Oak 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 Red Oak is 80, with 100 being the average.
The cost of living index in Red Oak is 0.8x lower than the national average.
Red Oak ranks as the #5 cheapest in Iowa out of 80.
Red Oak ranks as the #211 cheapest out of 6,412 in the US.
The median home value in Red Oak is $80,500.
The median income in Red Oak is $48,533.
According to the most recent data on the cost of living, Red Oak has an overall cost of living index of 80, which is 0.8x lower than the national index of 100.
Compared to Iowa, Red Oak has a cost of living index that's 0.9x lower than Iowa's index of 89.
The standard of living in Red Oak ranks as #5 most affordable out of the 80 places we measured in Iowa. By definition, that implies Red Oak ranks as the #75 most expensive place in the Hawkeye State.
For more reading on life in Red Oak, check out:
Six factors go into calculating the cost of living index in Red Oak. Here is how it fairs on each of the criteria:
The Services index in Red Oak is 97.
The Groceries index in Red Oak is 101.
The Health index in Red Oak is 96.
The Housing index in Red Oak is 46.
The Transportation index in Red Oak is 97.
The Utilities index in Red Oak is 95.
|Living Expense||Red Oak||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 Red Oak is $80,500.
The Median Rent in Red Oak is $691.
The Median Income in Red Oak is $48,533.
The Home Value To Income in Red Oak is 1.7x.
The Rent To Monthly Income in Red Oak is 0.17x.
|Statistic||Red Oak||Iowa||United States|
|Median Home Value||$80,500||$160,700||$244,900|
|Home Value To Income||1.7x||2.5x||3.5x|
|Rent To Monthly Income||0.17x||0.15x||0.2x|
The cost of living varies in the cities and towns around Red Oak. Here's a quick look at the cost of living in the most populous nearby places:
Bellevue, NE has a cost of living index of 94, 1.2x Red Oak.
Bartlett, IL has a cost of living index of 117, 1.5x Red Oak.
Papillion, NE has a cost of living index of 96, 1.2x Red Oak.