A+
11%
Overall NAT. AVG.
0%
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 Mason City Iowa National
Cost of living8990100
Goods & Services10096100
Groceries9597100
Health care10099100
Housing6673100
Transportation9698100
Utilities10496100

An Overview of Cost of Living in Mason City, IA

Understanding the cost of living in Mason City 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 Mason City 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.

What Do Locals Say About the Cost of Living in Mason City?

The most insightful perspective on a city comes from its residents. We recently surveyed 26 locals to gauge their perception of the cost of living in Mason City. The feedback revealed that 58% of respondents found the cost of living to be reasonable, with prices on the decline, while 42% regarded it as notably expensive with prices that continue to rise.

Is Mason City Affordable?

Is Mason City affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Mason City, for instance, where the median home price falls 39.1% lower than the national average, and monthly rent rates are 22.8% lower than usual. Additionally, median income levels contribute to the equation, with Mason City flaunting a median household income of $53,406, 3.5% lower than the national norm.

What Factors can Influence the Cost of Living in Mason City?

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Mason City, the groceries index registers 4.9% lower than the national average.

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 Mason City, healthcare costs are 0.4% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Mason City, the standard sales tax rate starts at 6%, and the income tax rates commence at 0.33%.

Where is the Data From?

The Mason City 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 Mason City is equal to the Iowa average
  • The cost of living in Mason City is 11% lower than the national average
  • Mason City 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 Mason City

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Compare Mason City, 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$65,786$5,482$1,535$1,974
      Renters$35,677$2,973$832$1,070
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Mason City, 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 Mason City homeowners, is $65,786. This would allow for a maximum of $1,535 per month to be spent on housing costs. For renters, the median monthly income is $35,677 which would result in a maximum of $832 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 Mason City National avg. Difference
      Haircut $32.91$24.2635.6%
      Beauty Salon $35.27$45.5622.6%
      Toothpaste $3.74$3.701.1%
      Shampoo $1.24$1.283.0%
      Movie $10.32$12.1315.0%
      Bowling $10.28$18.0042.9%

      Groceries

      Item Mason City National avg. Difference
      Ground Beef $5.27$5.849.7%
      Fried Chicken $1.42$1.579.8%
      Milk $4.56$4.672.4%
      Potatoes $5.01$4.931.6%
      Pizza $11.94$12.091.3%
      Beer $9.82$10.415.7%

      Health Care

      Item Mason City National avg. Difference
      Optometrist $87.93$125.6830.0%
      Doctor $153.18$135.7812.8%
      Dentist $105.03$113.297.3%
      Ibuprofen $10.25$10.653.8%
      Lipitor $501.86$468.607.1%

      Housing

      Item Mason City National avg. Difference
      Home Price $112,500.00$184,700.0039.1%
      Avg. Mortgage Payment $2,232.06$2,346.694.9%
      Apartment Rent $733.00$949.0022.8%

      Transportation

      Item Mason City National avg. Difference
      Gasoline $3.39$3.462.1%
      Tire Balancing $54.83$59.928.5%

      Utilities

      Item Mason City National avg. Difference
      All Electricity $209.45$193.998.0%
      Phone $187.72$192.252.4%
      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.
      Burchinal, IA20991.0%
      Portland, IA27991.0%
      Swaledale, IA1328119.3%
      Kensett, IA2858218.3%
      Joice, IA2508316.6%
      Mason City, IA27,0648910.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Sainte-Thérèse, QC27,055n/a 
      Wheeling, WV27,0468910.7%
      Lincoln, ON27,082n/a 
      Clarence-Rockland, ON27,082n/a 
      Wakefield, MA27,04116161.2%
      Mason City, IA27,0648910.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.