Cost of Living in Traer, IA

With a cost of living index of 72, Traer, IA is one of the most affordable cities in the country. Living here is 28% cheaper than the national average and in line with the Iowa state average. Traer is a small community of 1,464 residents.

Housing costs are the biggest factor in Traer's cost of living. The median monthly rent is $1,016 (23% below the US median of $1,319), and the median home value sits at $131,900 (57% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Traer is $79,653, which is 6% higher than the national median of $75,149. Residents spend roughly 15% 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 Traer. The area sees an average annual temperature of 47.7°F, with summers averaging 71°F and winters around 22°F. Annual rainfall totals 32.8 inches spread over roughly 110 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Waterloo-Cedar Falls, 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.