B-
6%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
25%
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 North Liberty Iowa National
Cost of living10690100
Goods & Services10196100
Groceries9797100
Health care9499100
Housing12573100
Transportation10498100
Utilities8696100

An Overview of Cost of Living in North Liberty, IA

The cost of living in North Liberty 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 North Liberty is 106, which is 6% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in North Liberty aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. North Liberty residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Housing costs are a major factor in the North Liberty cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 24.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

What Do Locals Say About the Cost of Living in North Liberty?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 5 locals to understand their opinions on the cost of living in North Liberty. The results indicated that 80% found it reasonably priced with decreasing prices of goods and services, while 20% viewed it as quite expensive, with increasing prices.

Is North Liberty Affordable?

Wondering if North Liberty is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In North Liberty, for example, the median home price is 25.6% higher than what folks pay nationally, and monthly rent is 22.2% higher than the usual rates. Plus, income levels matter too, with North Liberty boasting a median household income of $85,435, which is 54.4% higher than the national average.

What Factors can Influence the Cost of Living in North Liberty?

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 North Liberty, the transportation index is 4.4% higher than the national average.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In North Liberty, the utilities index registers at 13.9% lower than the national average.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The North Liberty cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 North Liberty is 19% higher than the Iowa average
  • The cost of living in North Liberty is 6% higher than the national average
  • North Liberty housing is 25% 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 North Liberty

See all the best places to live around North Liberty

Compare North Liberty, 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$102,867$8,572$2,400$3,086
      Renters$53,867$4,489$1,257$1,616
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in North Liberty, IA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In North Liberty, homeowners have a median income of $102,867. Using that number, a maximum of $2,400 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $53,867, which means there is a maximum of $1,257 to be spent on the costs of renting a home or apartment.

      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 North Liberty National avg. Difference
      Haircut $27.83$24.2614.7%
      Beauty Salon $46.89$45.562.9%
      Toothpaste $3.82$3.703.1%
      Shampoo $1.30$1.281.5%
      Movie $11.85$12.132.4%
      Bowling $18.50$18.002.8%

      Groceries

      Item North Liberty National avg. Difference
      Ground Beef $5.67$5.842.9%
      Fried Chicken $1.35$1.5714.2%
      Milk $4.63$4.670.8%
      Potatoes $4.73$4.934.1%
      Pizza $11.49$12.094.9%
      Beer $9.86$10.415.3%

      Health Care

      Item North Liberty National avg. Difference
      Optometrist $134.20$125.686.8%
      Doctor $140.02$135.783.1%
      Dentist $93.33$113.2917.6%
      Ibuprofen $10.72$10.650.6%
      Lipitor $454.61$468.603.0%

      Housing

      Item North Liberty National avg. Difference
      Home Price $232,000.00$184,700.0025.6%
      Avg. Mortgage Payment $1,900.08$2,346.6919.0%
      Apartment Rent $1,160.00$949.0022.2%

      Transportation

      Item North Liberty National avg. Difference
      Gasoline $3.37$3.462.5%
      Tire Balancing $72.71$59.9221.4%

      Utilities

      Item North Liberty National avg. Difference
      All Electricity $153.70$193.9920.8%
      Phone $186.06$192.253.2%
      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.
      East Amana, IA38991.4%
      Homestead, IA628613.6%
      Oxford, IA707936.6%
      Lisbon, IA2,138954.5%
      West Branch, IA2,357963.8%
      North Liberty, IA19,1591066.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Frankfort, IL19,16612827.6%
      Nanuet, NY19,14814343.0%
      Hermosa Beach, CA19,147290189.8%
      Pinecrest, FL19,18319594.8%
      Carlisle, PA19,1881022.1%
      North Liberty, IA19,1591066.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.