Cost of Living in Libertyville, IA

With a cost of living index of 75, Libertyville, IA is one of the most affordable cities in the country. Living here is 25% cheaper than the national average and 4% above the Iowa state average of 71. Libertyville is a small community of 373 residents.

Housing costs are the biggest factor in Libertyville's cost of living. The median monthly rent is $930 (29% below the US median of $1,319), and the median home value sits at $177,700 (42% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Libertyville is $74,107, which is 1% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Libertyville. The area sees an average annual temperature of 50.7°F, with summers averaging 73°F and winters around 26°F. Annual rainfall totals 37 inches spread over roughly 109 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.