Cost of Living in Clare, IA

With a cost of living index of 58, Clare, IA is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 13% below the Iowa state average of 71. Clare is a small community of 179 residents.

Housing costs are the biggest factor in Clare's cost of living. The median monthly rent is $650 (51% below the US median of $1,319), and the median home value sits at $77,500 (75% below the national median of $304,900). At current prices, the median home costs roughly 0.9x the median household income — well within traditional affordability guidelines.

The median household income in Clare is $83,750, which is 11% higher than the national median of $75,149. Residents spend roughly 9% 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.