Cost Of Living in Forest City, IA

A+

15%

Overall NAT. AVG.

Goods & Services NAT. AVG.

47%

Housing NAT. AVG.

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	Forest City	Iowa	National
Cost of living	85	90	100
Goods & Services	100	96	100
Groceries	95	97	100
Health care	100	99	100
Housing	53	73	100
Transportation	96	98	100
Utilities	104	96	100

New Real Estate Listings in Forest City Area

For Sale For Rent

Search Homes for Sale in Forest City, IA

See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

The cost of living in Forest City is 5% lower than the Iowa average
The cost of living in Forest City is 15% lower than the national average
Forest City housing is 47% 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 Forest City

See all the best places to live around Forest City

Compare Forest City, IA Cost of Living

Write a review to give others more information about this area.

See all Forest City poll results

The best places in Iowa

Here are the best places to live in Iowa

Check out the 10 safest cities in Iowa

These are the 10 cheapest cities in Iowa

Safest Cities In The US

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	$60,179	$5,015	$1,404	$1,806
Renters	$37,500	$3,125	$875	$1,125

A good indicator of the general affordability of housing in Forest City, IA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Forest City, the median monthly income is $60,179 for those who own their own homes. Under the standard rule, that income level would allow for $1,404 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $37,500, per the median income in the area. That would allow for renters to spend up to $875 on monthly rental expenses.

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	Forest City	National avg.	Difference
Haircut	$32.91	$24.26	35.6%
Beauty Salon	$35.27	$45.56	22.6%
Toothpaste	$3.74	$3.70	1.1%
Shampoo	$1.24	$1.28	3.0%
Movie	$10.32	$12.13	15.0%
Bowling	$10.28	$18.00	42.9%

Groceries

Item	Forest City	National avg.	Difference
Ground Beef	$5.27	$5.84	9.7%
Fried Chicken	$1.42	$1.57	9.8%
Milk	$4.56	$4.67	2.4%
Potatoes	$5.01	$4.93	1.6%
Pizza	$11.94	$12.09	1.3%
Beer	$9.82	$10.41	5.7%

Health Care

Item	Forest City	National avg.	Difference
Optometrist	$87.93	$125.68	30.0%
Doctor	$153.18	$135.78	12.8%
Dentist	$105.03	$113.29	7.3%
Ibuprofen	$10.25	$10.65	3.8%
Lipitor	$501.86	$468.60	7.1%

Housing

Item	Forest City	National avg.	Difference
Home Price	$91,500.00	$184,700.00	50.5%
Avg. Mortgage Payment	$2,232.06	$2,346.69	4.9%
Apartment Rent	$578.00	$949.00	39.1%

Transportation

Item	Forest City	National avg.	Difference
Gasoline	$3.39	$3.46	2.1%
Tire Balancing	$54.83	$59.92	8.5%

Utilities

Item	Forest City	National avg.	Difference
All Electricity	$209.45	$193.99	8.0%
Phone	$187.72	$192.25	2.4%

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.
Hutchins, IA	31	99	1.0%
Duncan, IA	102	99	1.0%
Hayfield, IA	56	99	1.0%
Miller, IA	30	99	1.0%
Scarville, IA	52	76	24.3%
Forest City, IA	4,117	85	14.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Scottdale, PA	4,116	89	10.7%
Broad Brook, CT	4,118	115	15.3%
Rossland, BC	4,115	n/a
Golden, BC	4,115	n/a
Elroy, NC	4,114	87	12.5%
Forest City, IA	4,117	85	14.8%