Cost of Living in Richland, IA

With a cost of living index of 82, Richland, IA is a very affordable place to live. Living here is 18% cheaper than the national average and 11% above the Iowa state average of 71. Richland is a small community of 566 residents.

The median household income in Richland is $57,308, which is 24% lower than the national median of $75,149. 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 Richland. The area sees an average annual temperature of 50.7°F, with summers averaging 73°F and winters around 26°F. Annual rainfall totals 37 inches spread over roughly 109 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Iowa City, 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.