Cost of Living in Mallard, IA

With a cost of living index of 68, Mallard, IA is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 3% below the Iowa state average of 71. Mallard is a small community of 268 residents.

Housing costs are the biggest factor in Mallard's cost of living. The median monthly rent is $1,042 (21% below the US median of $1,319), and the median home value sits at $55,400 (82% below the national median of $304,900). At current prices, the median home costs roughly 1.2x the median household income — well within traditional affordability guidelines.

The median household income in Mallard is $44,625, which is 41% lower than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Mallard. 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.