The Corridor is Home to the Most Expensive City to Live in Iowa
If you think Des Moines is the most expensive city to live in here in Iowa... think again! According to a new article from 24/7 Wall St., the most expensive city is actually here in Eastern Iowa!
Before we get to Iowa's most expensive city to live, we should probably know exactly what information the study from 24/7 Wall St. is based on. The article reads:
"To determine the most expensive city in every state, 24/7 Wall St. reviewed cost of living from the Bureau of Economic Analysis. Metropolitan areas were ranked based on the regional price parity for all goods and services in 2019. Supplemental data on median household income and poverty rate came from the U.S. Census Bureau’s 2020 American Community Survey based on five-year averages."
Here in Iowa, the most expensive city to live is Iowa City. But, that doesn't mean it's expensive compared to other large cities in the U.S. The study says that the cost of living in Iowa City is still 4.7% less than the U.S. average. It has a poverty rate of 16%, which is higher than the state average of 11.1%, and a median household income of $63,131, which is also slightly higher than the state average of $61,836. But, overall, Iowa isn't a bad state to live in when it comes to affordability. 24/7 Wall St. reports that Iowa's cost of living is around 9% less expensive that the U.S. average.
If you're wondering what other Midwest cities are the most expensive to live in, in Minnesota it's a tie between Minneapolis, St. Paul, and Bloomington, in Missouri it's St. Louis, in Wisconsin it's Madison, in Illinois it's Chicago, Naperville, and Elgin, and in Nebraska it's Omaha-Council Bluffs. You can check out the rest of the list HERE.