The Iowa Policy Project’s 2016 “Cost of Living in Iowa” report outlines how much working families need to earn in order to pay for such things as food, housing, utilities, child care, and transportation. IPP research director Peter Brown says a couple areas of basic expenses have increased substantially in recent years. Rent, on average statewide, has risen seven-to-eight percent, while health insurance premiums have skyrocketed.
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Iowa’s current minimum wage is $7.25 an hour. The report states the average Iowa family of four would require each parent to earn at least $16.89 an hour to make ends meet.
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The report identifies some of the lowest overall costs of living are found in the eastern Iowa metros of Waterloo-Cedar Falls, Davenport, Dubuque, and Cedar Rapids. The highest cost region of the state is in the southeast corner, including the cities of Fort Madison, Burlington, and Mount Pleasant.
