Cost of Living in Rome, IA

With a cost of living index of 68, Rome, 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. Rome is a small community of 77 residents.

Housing costs are the biggest factor in Rome's cost of living. The median monthly rent is $1,021 (23% below the US median of $1,319), and the median home value sits at $61,300 (80% below the national median of $304,900). At current prices, the median home costs roughly 2.1x the median household income — well within traditional affordability guidelines.

The median household income in Rome is $29,531, which is 61% lower than the national median of $75,149. Residents spend roughly 41% of household income on rent. This is well above the 30% affordability threshold, indicating a significant housing cost burden for many residents. 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 Rome. 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.

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.