Cost of Living in Ankeny, IA

With a cost of living index of 97, Ankeny, IA is slightly more affordable than average. Living here is 3% cheaper than the national average and 26% above the Iowa state average of 71. With a population of 70,542, Ankeny is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Ankeny's cost of living. The median monthly rent is $1,279 (3% below the US median of $1,319), and the median home value sits at $311,300 (2% above the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Ankeny is $106,603, which is 42% higher than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Des Moines-West Des Moines, IA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.