Cost of Living in Nichols, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
103.9
100 = national avg
+3.9 vs national average
Living Wage (1 Adult)
$45,723
per year
Living Wage (Family of 4)
$108,073
per year
Cost Index by Category
Housing70.0
Food116.9
Transportation133.8
Healthcare113.5
Utilities104.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$858
per month
2 Bedroom
$1,071
per month
The overall cost of living index in Nichols is 103.9, which is 3.9% above the national average. Housing costs are below the national average at an index of 70.0. A single adult needs to earn approximately $45,723 per year to cover basic expenses.