Cost of Living in Millersburg, IA

With a cost of living index of 57, Millersburg, IA is one of the most affordable cities in the country. Living here is 43% cheaper than the national average and 14% below the Iowa state average of 71. Millersburg is a small community of 136 residents.

Housing costs are the biggest factor in Millersburg's cost of living. The median monthly rent is $550 (58% below the US median of $1,319), and the median home value sits at $107,100 (65% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Millersburg is $75,357, which is 0% higher than the national median of $75,149. Residents spend roughly 9% 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 Millersburg. The area sees an average annual temperature of 48.3°F, with summers averaging 71°F and winters around 23°F. Annual rainfall totals 35.9 inches spread over roughly 113 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.