A+
17%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
42%
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 Oskaloosa Iowa National
Cost of living8390100
Goods & Services9596100
Groceries9997100
Health care9499100
Housing5873100
Transportation9198100
Utilities8796100

An Overview of Cost of Living in Oskaloosa, IA

Knowing the cost of living in Oskaloosa allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Oskaloosa stands at 83, marking it 17% lower than the national average.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Oskaloosa stands out by reporting housing costs that are 42.3% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.

Is Oskaloosa Affordable?

Is Oskaloosa 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 Oskaloosa is 49.6% lower than the national average, while the average monthly rent prices are 25.1% lower than average. The affordability of any location can also be influenced by median income levels. Oskaloosa has a median household income of $49,856, which is 9.9% lower than the national average.

What Factors can Influence the Cost of Living in Oskaloosa?

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Oskaloosa, the groceries index is 0.7% lower than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Oskaloosa, healthcare costs are 5.8% 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 Oskaloosa, the standard sales tax rate starts at 6%, and the income tax rates commence at 0.33%.

Where is the Data From?

The Oskaloosa 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 Oskaloosa is 7% lower than the Iowa average
  • The cost of living in Oskaloosa is 17% lower than the national average
  • Oskaloosa housing is 42% 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 Oskaloosa

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Compare Oskaloosa, 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$64,534$5,378$1,506$1,936
      Renters$24,121$2,010$563$724
      To approximate the cost of living and the housing affordability in Oskaloosa, IA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Oskaloosa have a median income of $64,534. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,506 per month to avoid calamity and poverty. The renters in the city have an income of about $24,121, which would make their monthly maximum allowable rental costs $563.

      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 Oskaloosa National avg. Difference
      Haircut $20.63$24.2615.0%
      Beauty Salon $41.00$45.5610.0%
      Toothpaste $3.69$3.700.3%
      Shampoo $1.35$1.285.6%
      Movie $11.17$12.137.9%
      Bowling $20.87$18.0015.9%

      Groceries

      Item Oskaloosa National avg. Difference
      Ground Beef $6.36$5.848.9%
      Fried Chicken $1.38$1.5712.6%
      Milk $4.82$4.673.2%
      Potatoes $4.81$4.932.6%
      Pizza $11.84$12.092.0%
      Beer $9.82$10.415.7%

      Health Care

      Item Oskaloosa National avg. Difference
      Optometrist $125.17$125.680.4%
      Doctor $129.05$135.785.0%
      Dentist $96.60$113.2914.7%
      Ibuprofen $10.88$10.652.1%
      Lipitor $495.45$468.605.7%

      Housing

      Item Oskaloosa National avg. Difference
      Home Price $93,000.00$184,700.0049.6%
      Avg. Mortgage Payment $1,877.36$2,346.6920.0%
      Apartment Rent $711.00$949.0025.1%

      Transportation

      Item Oskaloosa National avg. Difference
      Gasoline $3.19$3.467.8%
      Tire Balancing $52.49$59.9212.4%

      Utilities

      Item Oskaloosa National avg. Difference
      All Electricity $154.71$193.9920.3%
      Phone $186.87$192.252.8%
      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.
      Bussey, IA4407623.9%
      What Cheer, IA7158020.1%
      Gibson, IA308019.9%
      Hamilton, IA617722.9%
      Chillicothe, IA998019.8%
      Oskaloosa, IA11,7278317.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Evanston, WY11,727955.2%
      Coldstream, BC11,728n/a 
      Webster, MA11,7191109.8%
      Florham Park, NJ11,71916463.6%
      Wanaque, NJ11,71912221.7%
      Oskaloosa, IA11,7278317.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.