Housing costs in Elma?
A typical home costs
$152,500, which is 54.9% less expensive than the national average of
$338,100 and 21.8% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Elma costs
$810 per month, which is 43.4% cheaper than the national average of
$1,430 and 14.8% cheaper than the state average of
$930.
Can I afford Elma?
To live comfortably in Elma, Iowa, a minimum annual income of
$29,160 for a family, and
$28,400 for a single person is recommended.
What does A.I. say about Elma?
The cost of living in Elma, IA is considered to be quite affordable. The median household income is around $50,000, which is well below the national average. The median home value in Elma is also much lower than the national average, at approximately $85,000. Additionally, groceries are quite reasonably priced with a variety of local options for fresh produce. Utilities are slightly higher than the national average but still remain affordable for most working families. All in all, Elma offers its residents a comfortable and affordable lifestyle that makes it an attractive option for those seeking a small town atmosphere and lower-cost living.