Cost of Living in Iola, PA

With a cost of living index of 73, Iola, PA is one of the most affordable cities in the country. Living here is 27% cheaper than the national average and 10% below the Pennsylvania state average of 83. Iola is a small community of 129 residents.

Housing costs are the biggest factor in Iola's cost of living. The median monthly rent is $624 (53% below the US median of $1,319), and the median home value sits at $262,500 (14% below the national median of $304,900). At current prices, the median home costs roughly 19.1x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Iola is $13,750, which is 82% lower than the national median of $75,149. Residents spend roughly 54% 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.

Everyday prices in the Williamsport, PA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 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.