Indianola, IA

Very Low · 73

Iowa · Population 15,918 · Updated March 2026

$966
Median Rent / Month
$78,125
Median Income
$228,100
Median Home Value
$1,177
Owner Costs / Month

Affordability

How far your income goes in Indianola

14.8%
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

$11,592
Annual Rent
$4,453
State Income Tax
$3,581
Property Tax (est.)

Cost of Living Overview

Indianola is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 73 (where 100 equals the national median), Indianola residents can expect to pay median rent of $966/month while earning a median household income of $78,125/year.

The median home value in Indianola, IA is $228,100, with typical monthly owner costs around $1,177 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.8% 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 Indianola.

Frequently Asked Questions

Common questions about living costs in Indianola

What is the cost of living in Indianola, IA?
The cost of living index in Indianola, IA is 73 (US average = 100). Median monthly rent is $966, median household income is $78,125/year, and the median home value is $228,100.
Is Indianola, IA affordable?
Yes, Indianola is more affordable than the national average with a cost index of 73. The rent-to-income ratio is 14.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Indianola, IA?
The median gross rent in Indianola, IA is $966 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,592.
What is the median household income in Indianola?
The median household income in Indianola, IA is $78,125 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%.