Cost of Living in Alexander, IA

With a cost of living index of 50, Alexander, IA is one of the most affordable cities in the country. Living here is 50% cheaper than the national average and 21% below the Iowa state average of 71. Alexander is a small community of 230 residents.

Housing costs are the biggest factor in Alexander's cost of living. The median monthly rent is $446 (66% below the US median of $1,319), and the median home value sits at $54,400 (82% below the national median of $304,900). At current prices, the median home costs roughly 0.7x the median household income — well within traditional affordability guidelines.

The median household income in Alexander is $78,750, which is 5% higher than the national median of $75,149. Residents spend roughly 7% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.