Cost of Living in Oakville, IA

With a cost of living index of 65, Oakville, IA is one of the most affordable cities in the country. Living here is 35% cheaper than the national average and 6% below the Iowa state average of 71. Oakville is a small community of 168 residents.

Housing costs are the biggest factor in Oakville's cost of living. The median monthly rent is $900 (32% below the US median of $1,319), and the median home value sits at $76,700 (75% 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 Oakville is $53,750, which is 28% lower than the national median of $75,149. Residents spend roughly 20% 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 Oakville. The area sees an average annual temperature of 51.9°F, with summers averaging 74°F and winters around 28°F. Annual rainfall totals 37.9 inches spread over roughly 114 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.