Iowa Falls, IA Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Iowa Falls, IA Summary

Cost of living in Iowa Falls 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 Falls 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 Falls is 83, with 100 being the average.

  • The cost of living index in Iowa Falls is 0.8x lower than the national average.

  • Iowa Falls ranks as the #14 cheapest in Iowa out of 80.

  • Iowa Falls ranks as the #491 cheapest out of 6,412 in the US.

  • The median home value in Iowa Falls is $94,900.

  • The median income in Iowa Falls is $45,896.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
83
Iowa Falls's Overall Cost Of Living
0.8x
Lower Than The National Average

What is the cost of living in Iowa Falls, IA?

According to the most recent data on the cost of living, Iowa Falls has an overall cost of living index of 83, which is 0.8x lower than the national index of 100.

Compared to Iowa, Iowa Falls has a cost of living index that's 0.9x lower than Iowa's index of 89.

The standard of living in Iowa Falls ranks as #14 most affordable out of the 80 places we measured in Iowa. By definition, that implies Iowa Falls ranks as the #66 most expensive place in the Hawkeye State.

For more reading on life in Iowa Falls, check out:

14 out of 80
In Iowa
491 out of 6,412
In America

Iowa Falls Cost Of Living Vs. Iowa

Six factors go into calculating the cost of living index in Iowa Falls. Here is how it fairs on each of the criteria:

  • The Services index in Iowa Falls is 102.

  • The Groceries index in Iowa Falls is 99.

  • The Health index in Iowa Falls is 99.

  • The Housing index in Iowa Falls is 54.

  • The Transportation index in Iowa Falls is 105.

  • The Utilities index in Iowa Falls is 93.

Living Expense Iowa Falls Iowa National Average
Overall 83 89 100
Services 102 95 100
Groceries 99 98 100
Health 99 99 100
Housing 54 73 100
Transportation 105 98 100
Utilities 93 94 100
For more reading on cost of living around Iowa, check out:
Iowa Falls Cost of Living Vs. IA

Iowa Falls, IA Housing Cost Breakdown

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 Falls is $94,900.

  • The Median Rent in Iowa Falls is $826.

  • The Median Income in Iowa Falls is $45,896.

  • The Home Value To Income in Iowa Falls is 2.1x.

  • The Rent To Monthly Income in Iowa Falls is 0.22x.

Statistic Iowa Falls Iowa United States
Median Home Value $94,900 $160,700 $244,900
Median Rent $826 $845 $1,163
Median Income $45,896 $65,429 $69,021
Home Value To Income 2.1x 2.5x 3.5x
Rent To Monthly Income 0.22x 0.15x 0.2x
Search Homes For Sale In Iowa Falls, IA
$94,900
Median Home Value
$826
Median Rent
$45,896
Median Income

Iowa Falls, IA Costs By Category

Detailed Iowa Falls Services Costs Vs. Iowa

Item Iowa Falls Iowa
Shampoo $1.61 $1.06
Movie $8.62 $10.68
Bowling $15.57 $14.67
Haircut $22.76 $18.62
Beauty Salon $31.95 $39.05

Detailed Iowa Falls Groceries Costs Vs. Iowa

Item Iowa Falls Iowa
Ground Beef $4.39 $4.22
Fried Chicken $1.64 $1.39
Milk $2.2 $2.05
Potatoes $2.86 $3.29
Pizza $9.81 $10.62
Beer $8.86 $9.38
Toothpaste $2.53 $2.34

Detailed Iowa Falls Health Costs Vs. Iowa

Item Iowa Falls Iowa
Optometrist $109.17 $108.57
Doctor $127.0 $116.17
Dentist $89.67 $99.13

Detailed Iowa Falls Transportation Costs Vs. Iowa

Item Iowa Falls Iowa
Gasoline $2.18 $2.22
Tire Balancing $56.81 $50.07

Detailed Iowa Falls Utilities Costs Vs. Iowa

Item Iowa Falls Iowa
All Electricity $143.46 $167.67
Phone $180.82 $175.64

Iowa Falls SnackAbility

7
/10
Overall SnackAbility
Jobs
6/10
Housing
5
Affordability
8
Diversity
5
Safety
6
Amenities
7
Education
8
Commute
9.5

Cost Of Living In Cities Around Iowa Falls

The cost of living varies in the cities and towns around Iowa Falls. Here's a quick look at the cost of living in the most populous nearby places:

  • Waterloo, IA has a cost of living index of 84, 1.0x Iowa Falls.

  • Ames, IA has a cost of living index of 99, 1.2x Iowa Falls.

  • Cedar Falls, IA has a cost of living index of 93, 1.1x Iowa Falls.

City Population Cost Of Living Vs. Iowa Falls
Waterloo, IA 67,695 84 1.0x
Ames, IA 65,522 99 1.2x
Cedar Falls, IA 40,500 93 1.1x
Marshalltown, IA 27,570 88 1.1x
Fort Dodge, IA 24,826 85 1.0x
Boone, IA 12,509 87 1.0x
Waverly, IA 10,278 90 1.1x
Clear Lake, IA 7,673 90 1.1x
Nevada, IA 7,017 91 1.1x

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