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Cost of living in Iowa

Everyday prices in Iowa run 12.2% below the US average, the 3rd lowest of 51 states and DC.

By Sol Lakein. Updated November 2026.

Iowa next to New York and the US

Longer bar = costs more.1,4,2,3
IowaUnited StatesNew York metro

How affordable is Iowa?

Rent and home prices next to what households earn.6
$81,890
Typical household incomeA year · 37th highest of 51
15%
Of income goes to rentA year of 2-bed rent ($1,049/mo) against median income ($81,890). 4th lowest of 51.
3.5
Years of income to buy a home$284,900 median listing against $81,890 income. 4th lowest of 50.

Are people moving to Iowa?

970 more people left Iowa for other states than arrived between July 2024 and July 2025 (Census Bureau estimates).

Where Americans are moving5

Metro areas in Iowa

Cheapest first. Tap one for its full cost of living.1,4,2
Price levelUS averageShorter bar = cheaper, longer = pricier
  1. 1Des Moines-West Des Moines, IA8% cheaper than average
    2-bed rent
    $1,184
    Typical home
    $339,996
    Mortgage
    $1,868/mo

Iowa next to its neighbors

The states that border Iowa, on the same measures. The number is each state's national rank on everyday prices.1,4,2
  1. 3IowaThis state12% cheaper than average
    2-bed rent
    $1,049
    Typical home
    $284,900
    Net moves
    -970
  2. 6South Dakota11% cheaper than average
    2-bed rent
    $1,148
    Typical home
    $375,000
    Net moves
    +2,169
  3. 11Nebraska10% cheaper than average
    2-bed rent
    $1,194
    Typical home
    $335,000
    Net moves
    -366
  4. 13Missouri9% cheaper than average
    2-bed rent
    $1,121
    Typical home
    $300,000
    Net moves
    +14,028
Show 3 more
  1. 20Wisconsin6% cheaper than average
    2-bed rent
    $1,236
    Typical home
    $389,900
    Net moves
    +6,984
  2. 30Minnesota1% cheaper than average
    2-bed rent
    $1,443
    Typical home
    $379,900
    Net moves
    +8,300
  3. 33IllinoisAbout the US average
    2-bed rent
    $1,416
    Typical home
    $324,950
    Net moves
    -40,017

Iowa by the numbers

Every figure on this page, as tables

Iowa next to New York and the US

PlacePrice levelHousingTypical homeMonthly payment2-bedroom rent
Iowa87.865.3$284,900$1,566$1,049
United States100.0100.0$419,250$2,304$1,563
New York metro112.6148.6$742,000$4,078$1,997

Metro areas in Iowa

MetroPrice level2-bedroom rentTypical home
Des Moines-West Des Moines, IA91.7$1,184$339,996

Iowa next to its neighbors

StatePrice level2-bedroom rentTypical homeNet moves from other states
Iowa87.8$1,049$284,900-970
Illinois100.0$1,416$324,950-40,017
Minnesota98.6$1,443$379,900+8,300
Missouri90.8$1,121$300,000+14,028
Nebraska90.1$1,194$335,000-366
South Dakota88.6$1,148$375,000+2,169
Wisconsin94.1$1,236$389,900+6,984

Net moves from other states

Year (July to July)Net moves from other states
2019-20-7,799
2020-21+2,294
2021-22-6,301
2022-23-3,502
2023-24-427
2024-25-970

States with a similar cost of living to Iowa

Keep comparing

Iowa cost of living: questions people ask

What is the cost of living in Iowa?

Everyday prices in Iowa run 12.2% below the US average, the 3rd lowest of 51 states and DC (BEA, 2024). Housing costs, rent included, index at 65.3 against a US average of 100. The median listed home is $284,900 (Realtor.com, September 2026), about $1,566 a month in principal and interest. The median 2-bedroom rent is $1,049 a month, utilities included (Census, 2025). A $150,000 salary in New York buys the same as $116,951 in Iowa.

Is Iowa cheap or expensive to live in?

Cheaper than average. Iowa's regional price parity is 87.8, so the same basket of goods, services and rent costs 12.2% less than the US average (BEA, 2024).

How much does a house cost in Iowa?

The median listed home in Iowa is $284,900 as of September 2026 (Realtor.com via FRED), against $419,250 nationally. That ranks 4th lowest of 50. With 20% down at 7.32%, principal and interest run about $1,566 a month.

How much is rent in Iowa?

The median gross rent for a 2-bedroom in Iowa is $1,049 a month, including utilities the renter pays, against $1,563 for the US (Census American Community Survey, 2025).

What salary in Iowa equals $150,000 in New York?

About $116,951, using BEA regional price parities for Iowa (87.8) and the New York metro (112.6), 2024.

Are people moving to Iowa?

970 more people left Iowa for other states than arrived between July 2024 and July 2025 (Census Bureau estimates).

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Notes on the numbers
  1. 1Everyday prices, housing costs and price levels: BEA regional price parities via FRED, 2024, where the US average is 100. In ranked lists, 1 is the cheapest.
  2. 2Homes: the typical home is the median listing price, Realtor.com via FRED, September 2026.
  3. 3Mortgage: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA.
  4. 4Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units, including utilities.
  5. 5Net moves: US Census Bureau population estimates, net domestic migration, July to July.
  6. 6Affordability: our arithmetic on Census median gross rent (2025), Census median household income (2025) and Realtor.com median listing price (September 2026). Rank 1 is the most affordable.
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