Cost of living in Lake City
Lake City, located in Iowa, United States, offers a unique blend of small-town charm and essential amenities. Understanding the cost of living in Lake City is crucial for potential residents and those considering relocation.
This guide provides a detailed breakdown of expenses, including dining, groceries, transportation, housing, and utilities, to help you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $14 on average, with a range between $12 and $20.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $55.5, with prices ranging from $50 to $110.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10.5, with a range between $10 and $12.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3 to $6, imported beer $5.5 to $7, cappuccino $4.75 to $6, and Coke/Pepsi $1.25 to $3.
Grocery Prices
- Milk - Milk is priced between $0.45 and $1.22 per liter, averaging $0.91.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.08 and $4.41, with an average price of $3.
- Eggs (Dozen) - A dozen eggs range from $1.54 to $4.25, averaging $2.85.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.84 to $13.23 per kg, while oranges range from $2.76 to $11.02 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.46 and $3.68 per kg, and lettuce costs $1.79 to $2.17 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $0.75 and $0.91 per liter.
- Car Purchase (Toyota Corolla Sedan) - A Toyota Corolla Sedan 1.6l 97kW Comfort costs between $26,000 and $33,000.
Housing Costs
- Mortgage Interest Rate - The mortgage interest rate for a 20-year fixed-rate loan averages 6.58%, ranging from 6.19% to 6.8%.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $116 and $250, averaging $205.33.
- Internet - Internet services range from $55 to $130, with an average cost of $86.25.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Lake City offers a relatively affordable cost of living compared to larger urban areas. Dining out is reasonably priced, with options for both casual and mid-range dining.
Grocery prices are competitive, with essential items like milk and bread being quite affordable. Transportation costs are low, particularly for gasoline.
Utilities and internet services are moderately priced, making Lake City a cost-effective choice for families and individuals alike.
Conclusion
In conclusion, Lake City, IA, presents a balanced cost of living with affordable dining, grocery, and transportation options. The city's utility costs are reasonable, and the housing market offers competitive mortgage rates.
For those considering a move to Lake City, the city provides a cost-effective lifestyle without sacrificing essential amenities, making it an attractive option for new residents.