Cost Of Living in Carter Lake, IA

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	Carter Lake	Iowa	National
Cost of living	89	90	100
Goods & Services	97	96	100
Groceries	98	97	100
Health care	88	99	100
Housing	72	73	100
Transportation	99	98	100
Utilities	96	96	100

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Cost Of Living Quick Facts

The cost of living in Carter Lake is equal to the Iowa average
The cost of living in Carter Lake is 11% lower than the national average
Carter Lake housing is 28% lower 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

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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	$71,063	$5,922	$1,658	$2,132
Renters	$40,472	$3,373	$944	$1,214

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Carter Lake, IA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Carter Lake homeowners, is $71,063. This would allow for a maximum of $1,658 per month to be spent on housing costs. For renters, the median monthly income is $40,472 which would result in a maximum of $944 to be spent on rental costs.

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	Carter Lake	National avg.	Difference
Haircut	$23.69	$24.26	2.4%
Beauty Salon	$32.50	$45.56	28.7%
Toothpaste	$3.71	$3.70	0.3%
Shampoo	$1.23	$1.28	3.7%
Movie	$12.12	$12.13	0.1%
Bowling	$18.36	$18.00	2.0%

Groceries

Item	Carter Lake	National avg.	Difference
Ground Beef	$6.11	$5.84	4.6%
Fried Chicken	$1.40	$1.57	11.2%
Milk	$4.67	$4.67	0.1%
Potatoes	$4.50	$4.93	8.9%
Pizza	$11.19	$12.09	7.4%
Beer	$9.76	$10.41	6.3%

Health Care

Item	Carter Lake	National avg.	Difference
Optometrist	$123.10	$125.68	2.1%
Doctor	$135.27	$135.78	0.4%
Dentist	$90.11	$113.29	20.5%
Ibuprofen	$10.62	$10.65	0.3%
Lipitor	$357.80	$468.60	23.6%

Housing

Item	Carter Lake	National avg.	Difference
Home Price	$111,900.00	$184,700.00	39.4%
Avg. Mortgage Payment	$1,869.86	$2,346.69	20.3%
Apartment Rent	$934.00	$949.00	1.6%

Transportation

Item	Carter Lake	National avg.	Difference
Gasoline	$3.22	$3.46	7.1%
Tire Balancing	$68.12	$59.92	13.7%

Utilities

Item	Carter Lake	National avg.	Difference
All Electricity	$174.82	$193.99	9.9%
Phone	$200.78	$192.25	4.4%

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.
Richfield, NE	14	97	3.4%
Boys Town, NE	841	97	3.4%
Weston, IA	138	97	3.4%
La Platte, NE	136	97	3.4%
Loveland, IA	0	97	3.4%
Carter Lake, IA	3,799	89	10.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Plainwell, MI	3,799	88	12.2%
Sewickley, PA	3,800	124	24.1%
Hazlehurst, MS	3,801	79	20.6%
Brookville, PA	3,801	88	12.2%
Leonardtown, MD	3,795	134	33.9%
Carter Lake, IA	3,799	89	10.8%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Carter Lake, IA