Cost of Living in Luther, IA

With a cost of living index of 87, Luther, IA is a very affordable place to live. Living here is 13% cheaper than the national average and 16% above the Iowa state average of 71. Luther is a small community of 130 residents.

The median household income in Luther is $86,667, which is 15% higher than the national median of $75,149.

Climate is another factor for anyone considering a move to Luther. The area sees an average annual temperature of 48.6°F, with summers averaging 72°F and winters around 23°F. Annual rainfall totals 35.9 inches spread over roughly 112 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Ames, 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.