Cost of Living in Elk Run Heights, IA

With a cost of living index of 83, Elk Run Heights, IA is a very affordable place to live. Living here is 17% cheaper than the national average and 12% above the Iowa state average of 71. Elk Run Heights is a small community of 968 residents.

Housing costs are the biggest factor in Elk Run Heights's cost of living. The median monthly rent is $1,250 (5% below the US median of $1,319), and the median home value sits at $169,400 (44% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Elk Run Heights is $68,828, which is 8% lower than the national median of $75,149. Residents spend roughly 22% 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.

Everyday prices in the Waterloo-Cedar Falls, 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.