Cost of Living in Independence, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
100.4
100 = national avg
+0.4 vs national average
Living Wage (1 Adult)
$44,189
per year
Living Wage (Family of 4)
$104,448
per year
Cost Index by Category
Housing88.6
Food105.2
Transportation110.4
Healthcare104.2
Utilities100.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$718
per month
2 Bedroom
$942
per month
The overall cost of living index in Independence is 100.4, which is 0.4% above the national average. Housing costs are below the national average at an index of 88.6. A single adult needs to earn approximately $44,189 per year to cover basic expenses.