Cost of Living in Woolstock, IA

With a cost of living index of 63, Woolstock, IA is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 8% below the Iowa state average of 71. Woolstock is a small community of 183 residents.

Housing costs are the biggest factor in Woolstock's cost of living. The median monthly rent is $813 (38% below the US median of $1,319), and the median home value sits at $84,500 (72% below the national median of $304,900). At current prices, the median home costs roughly 1x the median household income — well within traditional affordability guidelines.

The median household income in Woolstock is $87,857, which is 17% higher 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 Woolstock. The area sees an average annual temperature of 48.6°F, with summers averaging 72°F and winters around 23°F. Annual rainfall totals 35.9 inches spread over roughly 112 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.