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Cost of Living in Ames

Is it better to rent or buy in Ames? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$74,727
$990/mo

Median in area: $990

$260,188

Median in area: $260,188

$52,038

If you Rent

🔑
$1,193 /mo
Base Rent$990
Est. Utilities$203
% of Income19.2%
Pre-tax Residual$5,034

If you Buy

🏠
$1,904 /mo
P&I (6.5%)$1,316
Taxes & Ins$385
Est. Utilities$203
% of Income30.6%
Pre-tax Residual$4,324

Cost of Living FAQs

Is it cheaper to rent or buy in Ames?›

Based on median housing data, renting is currently more affordable on a monthly basis in Ames. The estimated all-in monthly cost for renting is $1,193, while owning a median-priced home with a 20% down payment is roughly $1,904 per month (a difference of $711).

How much do utilities cost in Ames?›

The average monthly utility cost (electricity and natural gas) for a typical home in Ames is approximately $203. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Ames?›

To comfortably afford the median rent and utilities in Ames without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $47,720 per year.