A+
11%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
34%
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 Fairfield Iowa National
Cost of living8990100
Goods & Services9696100
Groceries9597100
Health care10499100
Housing6673100
Transportation10098100
Utilities11396100

An Overview of Cost of Living in Fairfield, IA

Understanding the cost of living in Fairfield can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Fairfield cost of living index is 89, which is 11% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Is Fairfield Affordable?

Is Fairfield an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Fairfield is 39.5% lower than the national average, while the average monthly rent prices are 19.8% lower than average. The affordability of any location can also be influenced by median income levels. Fairfield has a median household income of $42,862, which is 22.5% lower than the national average.

What Factors can Influence the Cost of Living in Fairfield?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Fairfield, healthcare costs are 3.6% higher than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Fairfield, the transportation index is 0.4% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Fairfield comes in at 13.1% higher than the national average.

Where is the Data From?

The Fairfield 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Fairfield is equal to the Iowa average
  • The cost of living in Fairfield is 11% lower than the national average
  • Fairfield housing is 34% 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

Most Affordable Places to Live in and Around Fairfield

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Compare Fairfield, IA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$61,310$5,109$1,430$1,839
      Renters$24,345$2,029$568$730
      A good way to judge both the affordability of the housing and the cost of living in Fairfield is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Fairfield has a median income of about $61,310 for people who own homes. Based on that number, a maximum of $1,430 should be spent on expenses related to housing. Renters have a slightly different median income, which is $24,345. Based on this average, renters should spend no more than $568 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Fairfield National avg. Difference
      Haircut $18.13$24.2625.3%
      Beauty Salon $28.00$45.5638.5%
      Toothpaste $3.84$3.703.8%
      Shampoo $1.30$1.281.3%
      Movie $9.83$12.1319.0%
      Bowling $11.95$18.0033.6%

      Groceries

      Item Fairfield National avg. Difference
      Ground Beef $5.55$5.845.0%
      Fried Chicken $1.41$1.5710.6%
      Milk $4.72$4.671.0%
      Potatoes $4.74$4.934.0%
      Pizza $12.79$12.095.8%
      Beer $9.83$10.415.6%

      Health Care

      Item Fairfield National avg. Difference
      Optometrist $120.50$125.684.1%
      Doctor $171.88$135.7826.6%
      Dentist $97.53$113.2913.9%
      Ibuprofen $10.43$10.652.1%
      Lipitor $506.88$468.608.2%

      Housing

      Item Fairfield National avg. Difference
      Home Price $111,800.00$184,700.0039.5%
      Avg. Mortgage Payment $1,420.60$2,346.6939.5%
      Apartment Rent $761.00$949.0019.8%

      Transportation

      Item Fairfield National avg. Difference
      Gasoline $3.37$3.462.5%
      Tire Balancing $62.78$59.924.8%

      Utilities

      Item Fairfield National avg. Difference
      All Electricity $229.59$193.9918.3%
      Phone $200.45$192.254.3%
      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.
      Leando, IA21990.9%
      Coppock, IA22981.6%
      Martinsburg, IA1327822.2%
      Hillsboro, IA1877921.0%
      Douds, IA847921.0%
      Fairfield, IA10,3278910.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Granbury, TX10,3251088.2%
      Sauk Village, IL10,319909.8%
      Hillsdale, NJ10,31716060.2%
      Lyons, IL10,3381032.7%
      Sedona, AZ10,34114544.6%
      Fairfield, IA10,3278910.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.