Cost of Living in Promise city, IA
Housing
The housing market plays a significant role in determining the cost of living in Promise city, IA.
- Housing Index: Data is updating
- Median Home Price is: $85,000
- Average Rent (2 BR Apartment): Data is updating
- Average Rent (2 BR House): Data is updating
In analyzing the housing market of Promise city, IA, the data indicates a housing index of 0.0, suggesting an authority issue or lack of available data perhaps due to the economic conditions in the area. The median home price at 85000 is significantly low, which might attract some buyers looking for budget options, especially first-time homebuyers or investors. However, the zero figures for average rent for both two-bedroom apartments and houses indicate a potential lack of rental inventory or a stagnant rental market, which is critical to consider if you’re seeking rental income. Further research into the local economy and growth potential is advisable before making a decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Promise city, IA.
- Electricity Price: $14.82 USD (median by state)
- Natural Gas Price: $15.61 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): Data is updating
Living in Promise city, IA could entail higher utility costs. Electricity costs sit at $14.82, while natural gas is priced at $15.61 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about data unavailable monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Promise city is a financially viable option for your relocation.