Cost of Living in Edgewood, IA

With a cost of living index of 75, Edgewood, IA is a very affordable place to live. Living here is 25% cheaper than the national average and 4% above the Iowa state average of 71. Edgewood is a small community of 787 residents.

Housing costs are the biggest factor in Edgewood's cost of living. The median monthly rent is $975 (26% below the US median of $1,319), and the median home value sits at $167,000 (45% below 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 Edgewood is $56,875, which is 24% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.