Cost of Living in University Heights, IA

With a cost of living index of 107, University Heights, IA is somewhat more expensive than average. Living here is 7% more expensive than the national average and 36% above the Iowa state average of 71. University Heights is a small community of 1,232 residents.

Housing costs are the biggest factor in University Heights's cost of living. The median monthly rent is $1,417 (7% above the US median of $1,319), and the median home value sits at $393,200 (29% above the national median of $304,900). At current prices, the median home costs roughly 3.7x the median household income — a moderately affordable ratio by today's standards.

The median household income in University Heights is $105,172, which is 40% higher than the national median of $75,149. Residents spend roughly 16% 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 University Heights. The area sees an average annual temperature of 51°F, with summers averaging 74°F and winters around 26°F. Annual rainfall totals 35.7 inches spread over roughly 115 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.