Salary & Cost of Living in Iowa City, IA
Iowa City, IA: $57,000 median salary, cost of living index 95, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$57,000
$27/hr
Cost of Living
95
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
2.5%
rate
Iowa City, IA Overview
Population
74,828
Median Salary
$57,000
Average Salary
$63,000
Avg Commute
18 min
Median Home Price
$260,000
Median Rent
$1,050/mo
Job Growth
+1.8%
Sales Tax
7%
Iowa City is located in Iowa with a population of 74,828. The median household salary is $57,000 per year ($27/hour), which is $2,384 below the national median of $59,384. The average commute time is 18 minutes, and the city has a job growth rate of +1.8%.
Iowa City Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Iowa City, IA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$45,672
$3,806.00/month · $1,756.62/biweekly · Effective Rate: 19.9%
Gross Pay
$57,000
Federal Tax
-$4,802
State Tax
-$2,166
Local Tax
$0
FICA
-$4,361
Net Pay
$45,672
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,750.00 | $57,000.00 |
| Federal Income Tax | -$400.13 | -$4,801.50 |
| Iowa State Tax (3.8%) | -$180.50 | -$2,166.00 |
| Social Security (6.2%) | -$294.50 | -$3,534.00 |
| Medicare (1.45%) | -$68.88 | -$826.50 |
| Net Take-Home Pay | $3,806.00 | $45,672.00 |
Salary Comparison: Iowa City vs Other Cities
See how Iowa City's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Iowa City, IA | $57,000 | 95 | $60,000 |
| National Average | $59,384 | 100 | $59,384 |
| St. Petersburg, FL | $57,000 | 100 | $57,000 |
| Grand Rapids, MI | $57,000 | 90 | $63,333 |
| Mesa, AZ | $56,800 | 100 | $56,800 |
| 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 Iowa City
Iowa City's cost of living index is 95 (national average = 100). Living in Iowa City is 5% less expensive than the national average.
Median Home Price
$260,000
Median Monthly Rent
$1,050
Annual Rent Cost
$12,600
Your Salary's Purchasing Power
Your $45,672 annual take-home pay in Iowa City has the purchasing power of approximately $48,076 in an average-cost US area. Your $57,000 salary stretches further here than in most US cities.
Top Industries in Iowa City
Iowa City's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $57,000.
Salary Tips for Iowa City Workers
- Research top industries. Iowa City's top industries include Education, Healthcare, Technology. Targeting roles in these sectors can help you earn above the $57,000 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 Iowa City, IA?
The median salary in Iowa City, IA is $57,000 per year, or $27 per hour. The average salary is $63,000. This is $2,384 below the national median of $59,384.
What is the cost of living in Iowa City, IA?
Iowa City's cost of living index is 95 (national average = 100), meaning it is 5% less expensive compared to the national average. The median home price is $260,000 and the median monthly rent is $1,050.
What are the best industries in Iowa City?
The top industries in Iowa City, IA include Education, Healthcare, Technology. The city has a job growth rate of 1.8% and an unemployment rate of 2.5%. Workers in these industries often earn above the city's median salary of $57,000.
How does Iowa City's salary compare to other cities?
Iowa City's median salary of $57,000 is 4.0% below the national median of $59,384. However, when adjusted for cost of living (index: 95), the real purchasing power is approximately $60,000.
What is the minimum wage in Iowa City, IA?
The minimum wage in Iowa City, 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.