A+
2%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
8%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Altoona Iowa National
Cost of living9890100
Goods & Services9596100
Groceries9997100
Health care9499100
Housing10873100
Transportation9198100
Utilities8796100

An Overview of Cost of Living in Altoona, IA

The cost of living in Altoona affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Altoona is 98, which is 2% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Altoona are priced in a manner consistent with other areas. This means that residents of Altoona can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Altoona Affordable?

Is Altoona affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Altoona, the median home price is 8.1% higher than the national average and monthly rent prices are 8.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Altoona boasting a median household income of $79,482, 43.7% higher than the national average.

What Factors can Influence the Cost of Living in Altoona?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Altoona, the transportation index is 9.1% lower than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Altoona, the groceries index is 0.7% lower than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Altoona, the utilities index registers 13.4% lower than the national average.

Where is the Data From?

The Altoona cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Altoona is 10% higher than the Iowa average
  • The cost of living in Altoona is 2% lower than the national average
  • Altoona housing is 8% higher than the national average
  • Iowa general sales tax is 18% higher than the national average
  • Iowa state income tax is 69% higher than the national average

Most Affordable Places to Live in and Around Altoona

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Compare Altoona, IA Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$94,159$7,847$2,197$2,825
      Renters$49,083$4,090$1,145$1,473
      To approximate the cost of living and the housing affordability in Altoona, IA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Altoona have a median income of $94,159. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,197 per month to avoid calamity and poverty. The renters in the city have an income of about $49,083, which would make their monthly maximum allowable rental costs $1,145.

      Iowa Sales Tax

      State General Sales Tax With Max Surtax
      Iowa 6% 7%

      Iowa Income Tax

      State Income Tax (Low) Income Tax (High)
      Iowa 4.4% 6%

      Goods & Services

      Item Altoona National avg. Difference
      Haircut $20.63$24.2615.0%
      Beauty Salon $41.00$45.5610.0%
      Toothpaste $3.69$3.700.3%
      Shampoo $1.35$1.285.6%
      Movie $11.17$12.137.9%
      Bowling $20.87$18.0015.9%

      Groceries

      Item Altoona National avg. Difference
      Ground Beef $6.36$5.848.9%
      Fried Chicken $1.38$1.5712.6%
      Milk $4.82$4.673.2%
      Potatoes $4.81$4.932.6%
      Pizza $11.84$12.092.0%
      Beer $9.82$10.415.7%

      Health Care

      Item Altoona National avg. Difference
      Optometrist $125.17$125.680.4%
      Doctor $129.05$135.785.0%
      Dentist $96.60$113.2914.7%
      Ibuprofen $10.88$10.652.1%
      Lipitor $495.45$468.605.7%

      Housing

      Item Altoona National avg. Difference
      Home Price $199,600.00$184,700.008.1%
      Avg. Mortgage Payment $1,877.36$2,346.6920.0%
      Apartment Rent $1,027.00$949.008.2%

      Transportation

      Item Altoona National avg. Difference
      Gasoline $3.19$3.467.8%
      Tire Balancing $52.49$59.9212.4%

      Utilities

      Item Altoona National avg. Difference
      All Electricity $154.71$193.9920.3%
      Phone $186.87$192.252.8%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Valeria, IA407822.1%
      Swan, IA467822.1%
      Mingo, IA3048118.5%
      Colfax, IA1,8868614.2%
      Hartford, IA7098712.9%
      Altoona, IA18,917981.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Shelbyville, IN18,9188712.6%
      Greater Vancouver A, BC18,924n/a 
      Westbrook, ME18,93511312.6%
      World Golf Village, FL18,93711615.7%
      North Amityville, NY18,89013333.3%
      Altoona, IA18,917981.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.