Cost of Living in Marshalltown, IA

With a cost of living index of 68, Marshalltown, 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. With a population of 27,491, Marshalltown is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Marshalltown's cost of living. The median monthly rent is $864 (34% below the US median of $1,319), and the median home value sits at $117,100 (62% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Marshalltown is $68,854, which is 8% 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. 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 Marshalltown. The area sees an average annual temperature of 47.7°F, with summers averaging 71°F and winters around 22°F. Annual rainfall totals 32.8 inches spread over roughly 110 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.