Grimes, IA

Below Avg · 89

Iowa · Population 15,810 · Updated March 2026

$1,156
Median Rent / Month
$104,497
Median Income
$281,000
Median Home Value
$1,429
Owner Costs / Month

Affordability

How far your income goes in Grimes

13.3%
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

$13,872
Annual Rent
$5,956
State Income Tax
$4,412
Property Tax (est.)

Cost of Living Overview

Grimes offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 89 (where 100 equals the national median), Grimes residents can expect to pay median rent of $1,156/month while earning a median household income of $104,497/year.

The median home value in Grimes, IA is $281,000, with typical monthly owner costs around $1,429 including mortgage, insurance, and taxes. The median rent-to-income ratio of 13.3% 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 Grimes.

Frequently Asked Questions

Common questions about living costs in Grimes

What is the cost of living in Grimes, IA?
The cost of living index in Grimes, IA is 89 (US average = 100). Median monthly rent is $1,156, median household income is $104,497/year, and the median home value is $281,000.
Is Grimes, IA affordable?
Yes, Grimes is more affordable than the national average with a cost index of 89. The rent-to-income ratio is 13.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Grimes, IA?
The median gross rent in Grimes, IA is $1,156 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,872.
What is the median household income in Grimes?
The median household income in Grimes, IA is $104,497 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%.