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Iowa Yearly Expenses
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Multi-State
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US-175-AZ
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In comparison to other states in the U.S., Iowa is considered one of the most reasonably priced places to reside. In fact, a recent article published by USA Today ranked Iowa the ninth cheapest state to live in.
Summary about cost of living in Iowa City, IA, United States: Family of four estimated monthly costs are 3,631$ without rent. A single person estimated monthly costs are 1,005$ without rent. Iowa City is 22.94% less expensive than New York (without rent).
The typical renter in Iowa spends $766 a month on housing, $257 less than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $596, while the typical rent for a unit with five or more bedrooms is $900.
Iowa is a great place to live if you want to get the most for your money. In fact, U.S. News & WorldReport rated Iowa fourth overall among U.S. states for affordability, taking into account the costs of daily living, housing prices, and family incomes. In housing affordability, Iowa ranked first.
The cost of living in Iowa is 9% lower than the national average. Housing is 23% lower than the national average, while utilities are 5% lower. When it comes to basic necessities such as food and clothing, groceries are around 5% lower than in the rest of the country, while clothing costs 5% lower.
Average monthly expenses per household: $5,111. The average expenses per month for one consumer unit in 2020 was $5,111. That means the average spending per year is $61,334.
A popular rule of thumb says your income should be around 3 times your rent. So, if you're looking for a place that costs $1,000 per month, you may need to earn at least $3,000 per month. Many apartment complexes and landlords do follow this rule, so it makes sense to focus only on rentals you're likely to qualify for.
Iowa is a great place to live if you want to get the most for your money. In fact, U.S. News & WorldReport rated Iowa fourth overall among U.S. states for affordability, taking into account the costs of daily living, housing prices, and family incomes. In housing affordability, Iowa ranked first.
In comparison to other states in the U.S., Iowa is considered one of the most reasonably priced places to reside. In fact, a recent article published by USA Today ranked Iowa the ninth cheapest state to live in.
In comparison to other states in the U.S., Iowa is considered one of the most reasonably priced places to reside. In fact, a recent article published by USA Today ranked Iowa the ninth cheapest state to live in.
