New Hampton, IA, has a lower cost of living compared to the nationwide average. The overall cost of living index for New Hampton is 91, which is 9% below the national average of 100. This means residents can expect to spend less on most essentials, making it a potentially more affordable place to live.
Specifically, housing costs in New Hampton are 15% below the national average, while groceries and utilities are slightly above average. Transportation and miscellaneous costs are also below the national average, offering additional savings. Healthcare costs, however, are slightly higher, at 2% above the national average.
New Hampton, IA, offers a cost of living that is slightly lower than the nationwide average. The housing index in New Hampton stands at 85, which is 15% below the national average of 100. This suggests that housing costs in New Hampton are more affordable compared to the rest of the country. Additionally, groceries in New Hampton have an index of 92, which is 2% below the national average. This means that residents can expect to spend slightly less on food items than the average American.
Utilities in New Hampton have an index of 95, which is 5% below the national average. This indicates that the cost of utilities such as electricity, gas, and water is relatively lower in New Hampton. Transportation costs in New Hampton are also slightly lower, with an index of 88, which is 12% below the national average. This suggests that commuting and other transportation-related expenses are more budget-friendly. Healthcare costs, however, are slightly higher in New Hampton, with an index of 98, which is 2% above the national average. Miscellaneous costs, with an index of 90, are 10% below the national average, indicating that other expenses are also more affordable in New Hampton. Overall, New Hampton offers a cost of living that is generally lower than the national average, making it an attractive option for those looking to manage their expenses effectively.
