Cost of Living in Havelock, IA

With a cost of living index of 51, Havelock, IA is one of the most affordable cities in the country. Living here is 49% cheaper than the national average and 20% below the Iowa state average of 71. Havelock is a small community of 175 residents.

Housing costs are the biggest factor in Havelock's cost of living. The median monthly rent is $563 (57% below the US median of $1,319), and the median home value sits at $23,800 (92% below the national median of $304,900). At current prices, the median home costs roughly 0.4x the median household income — well within traditional affordability guidelines.

The median household income in Havelock is $61,875, which is 18% lower than the national median of $75,149. Residents spend roughly 11% 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.

Climate is another factor for anyone considering a move to Havelock. The area sees an average annual temperature of 46.8°F, with summers averaging 71°F and winters around 20°F. Annual rainfall totals 26.8 inches spread over roughly 97 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.