Overall
Iowa feels cheaper overall
Iowa has the lower cost-of-living index, beating Minnesota by 8.5 points on the overall affordability baseline.
View detailed comparison
Cost of Living Comparison
Quality of Life
Iowa vs Minnesota: Cost of Living
Iowa is cheaper overall by 8.5 cost-of-living points, but Iowa has lower median home values.
91.0
Composite cost of living index (100 = national average). Lower = more affordable.
Minnesota
MN • Midwest
99.5
Composite cost of living index (100 = national average). Lower = more affordable.
Visual Comparison
Iowa
91.0
Minnesota
99.5
Difference: 8.5 points — Iowa leads.
National Rankings
Where They Rank Nationally
See where both states fall among all 50 states for cost of living.
Iowa
#9 · 91.0
Minnesota
#24 · 99.5
Best
Worst
10 Best States — Cost of Living
Lower is better
#1
West Virginia
83.6
West Virginia
#2
Mississippi
85.5
Mississippi
#3
Arkansas
87.6
Arkansas
#4
Kentucky
88.0
Kentucky
#5
Alabama
88.6
Alabama
#6
Oklahoma
88.6
Oklahoma
#7
Missouri
90.0
Missouri
#8
Kansas
90.2
Kansas
#9
Iowa
91.0
Iowa
#10
Ohio
91.0
Ohio
Selected states
#24
Minnesota
99.5
Minnesota
Iowa ranks 9th and Minnesota ranks 24th nationally for cost of living.
Overview
A fast-reading view of the tradeoffs behind the raw cost numbers.
Living Costs
Housing
pay about 1.7x more for a home
Iowa has the lower median home value, while buying in Minnesota costs materially more at the median.
View detailed comparisonRent Pressure
Iowa puts less pressure on a median paycheck
Median rent takes a smaller share of household income in Iowa than in Minnesota, which makes monthly budgeting easier.
View detailed comparisonTaxes
Iowa keeps more income after state tax
Iowa has the lower top state income tax rate, which softens the total cost picture even when prices are close.
View detailed comparisonCost Stack
Iowa
Overall Affordability
Cost of living index
91.0
Regional price parity
90.4
Regular gas price
$3.482/gal
Electricity price
12.83 c/kWh
Housing
Median gross rent
$914/mo
Median home value
$173,300
Owner costs with mortgage
-
Owner costs without mortgage
-
Taxes
State income tax
6.00%
State sales tax
6.00%
Property tax
1.39%
Income
Median household income
$70,571
Income after median rent
$4,967
Minimum wage
$7.25/hr
Laws
Gun laws
Permissive
Alcohol system
Control State
Marijuana status
Medical
Minnesota
Overall Affordability
Cost of living index
99.5
Regional price parity
95.5
Regular gas price
$3.572/gal
Electricity price
14.98 c/kWh
Housing
Median gross rent
$1,163/mo
Median home value
$293,200
Owner costs with mortgage
-
Owner costs without mortgage
-
Taxes
State income tax
9.85%
State sales tax
6.88%
Property tax
1.02%
Income
Median household income
$84,313
Income after median rent
$5,863
Minimum wage
$10.85/hr
Laws
Gun laws
Restrictive
Alcohol system
License State
Marijuana status
Legal
What Stands Out
- Iowa has lower median home values.
- Iowa has the lower overall cost index.
- Minnesota has the higher median household income.
- Iowa looks more attainable on home value to income ratio.
Affordability Ratios
Related Pages
What This Means
Iowa vs Minnesota: Cost of Living in context
Iowa has a cost of living of 91.0, compared with 99.5 in Minnesota. Composite cost of living index (100 = national average). Lower = more affordable.
Iowa
91.0
Minnesota
99.5
Difference
8.5 points
People Also Ask
Iowa vs Minnesota Cost of Living — Common Questions
Q What is Iowa's cost of living?
Iowa's cost of living is 91.0.
Q What is Minnesota's cost of living?
Minnesota's cost of living is 99.5.
Q Which state has a lower cost of living — Iowa or Minnesota?
Iowa is cheaper overall by 8.5 cost-of-living points, but Iowa has lower median home values.
More Comparisons: Iowa vs Minnesota
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Sources: Core demographic data comes from the 2020 U.S. Census, with land area from U.S. Census Bureau TIGER files. Income, housing, affordability, and tax fields are maintained in our comparison dataset; purchasing-power figures use BEA Regional Price Parities. Minimum wage data comes from the U.S. Department of Labor, gas prices from AAA, and electricity rates from the U.S. Energy Information Administration. Political control and election fields use 2024 presidential results together with National Conference of State Legislatures data. Gun-law labels use the Giffords scorecard, alcohol system data comes from NABCA, and marijuana status uses NCSL's state cannabis laws tracker.