Cedar Falls, IA

Below Avg · 83

Iowa · Population 40,662 · Updated March 2026

$1,177
Median Rent / Month
$74,165
Median Income
$252,500
Median Home Value
$1,233
Owner Costs / Month

Affordability

How far your income goes in Cedar Falls

19.0%
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

$14,124
Annual Rent
$4,227
State Income Tax
$3,964
Property Tax (est.)

Cost of Living Overview

Cedar Falls is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 83 (where 100 equals the national median), Cedar Falls residents can expect to pay median rent of $1,177/month while earning a median household income of $74,165/year.

The median home value in Cedar Falls, IA is $252,500, with typical monthly owner costs around $1,233 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.0% 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 Cedar Falls.

Frequently Asked Questions

Common questions about living costs in Cedar Falls

What is the cost of living in Cedar Falls, IA?
The cost of living index in Cedar Falls, IA is 83 (US average = 100). Median monthly rent is $1,177, median household income is $74,165/year, and the median home value is $252,500.
Is Cedar Falls, IA affordable?
Yes, Cedar Falls is more affordable than the national average with a cost index of 83. The rent-to-income ratio is 19.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cedar Falls, IA?
The median gross rent in Cedar Falls, IA is $1,177 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,124.
What is the median household income in Cedar Falls?
The median household income in Cedar Falls, IA is $74,165 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%.