Salary & Cost of Living in Cedar Rapids, IA
Cedar Rapids, IA: $58,500 median salary, cost of living index 87, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$58,500
$28/hr
Cost of Living
87
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
3%
rate
Cedar Rapids, IA Overview
Population
137,710
Median Salary
$58,500
Average Salary
$64,500
Avg Commute
19 min
Median Home Price
$195,000
Median Rent
$950/mo
Job Growth
+1.5%
Sales Tax
7%
Cedar Rapids is located in Iowa with a population of 137,710. The median household salary is $58,500 per year ($28/hour), which is $884 below the national median of $59,384. The average commute time is 19 minutes, and the city has a job growth rate of +1.5%.
Cedar Rapids Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Cedar Rapids, IA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$46,820
$3,901.69/month · $1,800.78/biweekly · Effective Rate: 20.0%
Gross Pay
$58,500
Federal Tax
-$4,982
State Tax
-$2,223
Local Tax
$0
FICA
-$4,475
Net Pay
$46,820
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,875.00 | $58,500.00 |
| Federal Income Tax | -$415.13 | -$4,981.50 |
| Iowa State Tax (3.8%) | -$185.25 | -$2,223.00 |
| Social Security (6.2%) | -$302.25 | -$3,627.00 |
| Medicare (1.45%) | -$70.69 | -$848.25 |
| Net Take-Home Pay | $3,901.69 | $46,820.25 |
Salary Comparison: Cedar Rapids vs Other Cities
See how Cedar Rapids's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Cedar Rapids, IA | $58,500 | 87 | $67,241 |
| National Average | $59,384 | 100 | $59,384 |
| Miami, FL | $58,500 | 132 | $44,318 |
| Santa Fe, NM | $58,500 | 108 | $54,167 |
| Riverside, CA | $58,200 | 115 | $50,609 |
| Escondido, CA | $58,000 | 135 | $42,963 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Cedar Rapids
Cedar Rapids's cost of living index is 87 (national average = 100). Living in Cedar Rapids is 13% less expensive than the national average.
Median Home Price
$195,000
Median Monthly Rent
$950
Annual Rent Cost
$11,400
Your Salary's Purchasing Power
Your $46,820 annual take-home pay in Cedar Rapids has the purchasing power of approximately $53,816 in an average-cost US area. Your $58,500 salary stretches further here than in most US cities.
Top Industries in Cedar Rapids
Cedar Rapids's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $58,500.
Salary Tips for Cedar Rapids Workers
- Your salary goes further here. Cedar Rapids has a cost of living 13% below the national average. A salary of $58,500 here has the purchasing power of about $67,241 in an average-cost area.
- Research top industries. Cedar Rapids's top industries include Manufacturing, Finance, Technology. Targeting roles in these sectors can help you earn above the $58,500 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Cedar Rapids, IA?
The median salary in Cedar Rapids, IA is $58,500 per year, or $28 per hour. The average salary is $64,500. This is $884 below the national median of $59,384.
What is the cost of living in Cedar Rapids, IA?
Cedar Rapids's cost of living index is 87 (national average = 100), meaning it is 13% less expensive compared to the national average. The median home price is $195,000 and the median monthly rent is $950.
What are the best industries in Cedar Rapids?
The top industries in Cedar Rapids, IA include Manufacturing, Finance, Technology. The city has a job growth rate of 1.5% and an unemployment rate of 3%. Workers in these industries often earn above the city's median salary of $58,500.
How does Cedar Rapids's salary compare to other cities?
Cedar Rapids's median salary of $58,500 is 1.5% below the national median of $59,384. However, when adjusted for cost of living (index: 87), the real purchasing power is approximately $67,241.
What is the minimum wage in Cedar Rapids, IA?
The minimum wage in Cedar Rapids, IA is $7.25 per hour. This equals approximately $15,080 per year for a full-time worker (40 hours/week). This matches the federal minimum wage of $7.25/hour.