Carroll, IA

Very Low · 54

Iowa · Population 10,261 · Updated March 2026

$718
Median Rent / Month
$59,323
Median Income
$184,100
Median Home Value
$769
Owner Costs / Month

Affordability

How far your income goes in Carroll

14.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Iowa

State-level tax rates that affect your costs

5.7%
Income Tax (Top Rate)
6.0%
Sales Tax
1.57%
Property Tax Rate

Estimated Annual Costs

$8,616
Annual Rent
$3,381
State Income Tax
$2,890
Property Tax (est.)

Cost of Living Overview

Carroll is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 54 (where 100 equals the national median), Carroll residents can expect to pay median rent of $718/month while earning a median household income of $59,323/year.

The median home value in Carroll, IA is $184,100, with typical monthly owner costs around $769 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Iowa has a moderate income tax rate of 5.7%. Combined with a 6.0% sales tax rate and 1.57% effective property tax rate, the overall tax environment is a factor in the total cost of living in Carroll.

Frequently Asked Questions

Common questions about living costs in Carroll

What is the cost of living in Carroll, IA?
The cost of living index in Carroll, IA is 54 (US average = 100). Median monthly rent is $718, median household income is $59,323/year, and the median home value is $184,100.
Is Carroll, IA affordable?
Yes, Carroll is more affordable than the national average with a cost index of 54. The rent-to-income ratio is 14.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Carroll, IA?
The median gross rent in Carroll, IA is $718 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $8,616.
What is the median household income in Carroll?
The median household income in Carroll, IA is $59,323 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Iowa?
Iowa has a top income tax rate of 5.7%, a sales tax of 6.0%, and an effective property tax rate of 1.57%.