Cost of Living in Templeton, IA

With a cost of living index of 66, Templeton, IA is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 5% below the Iowa state average of 71. Templeton is a small community of 314 residents.

Housing costs are the biggest factor in Templeton's cost of living. The median monthly rent is $693 (47% below the US median of $1,319), and the median home value sits at $159,000 (48% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Templeton is $72,813, which is 3% lower than the national median of $75,149. Residents spend roughly 11% 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 Templeton. The area sees an average annual temperature of 50.1°F, with summers averaging 74°F and winters around 25°F. Annual rainfall totals 28.3 inches spread over roughly 104 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.