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Sunday, May 1, 2016

A good time to be an Iowan

Thursday, June 9, 2011

Iowa has been making some intriguing headlines recently.

First, Des Moines was ranked No. 1 among U.S. cities with the highest real incomes by the U.S. News and World Report.

Then, the U.S. Bureau of Economic Analysis showed Iowa's economy grew by 3.1 percent last year, compared to 2.6 percent national growth.

"Huh??" was the reaction of a friend from Des Moines as he posted the headline "U.S. News says Des Moines is richest metro area" on his Facebook wall.

The equation used to get the result took median household income and factored in the Cost of Living Index to calculate the adjusted median household income. With the fourth-best median household income on the list, at $56,576, and the second-best COLI, at 90.6, Des Moines' adjusted rate of $62,446 put it nearly $1,000 above the Washington, D.C. metro area average of $61,449.

Worcester, Mass., Houston and Ogden, Utah rounded out the top five. On the other end of the spectrum were the McAllen, Tex. area, $34,931; New York City, $35,370; and Modesto, Calif., $35,663.

These rankings show what most people already know: It's cheaper to live in Iowa than California, New York, etc. Nonetheless, it's a bit surprising to see Des Moines' adjusted income more than $27,000 higher than New York City's.

Yes, wages are higher in the Des Moines metro than in rural areas of the state. But, rural areas have even lower living costs.

Therefore, it's safe to say that most Iowans have it pretty good in comparison to many people in many other states.

BEA's report is further evidence of that. Iowa's Gross Domestic Product had the 13th highest increase in the nation. Manufacturing and finance and insurance were mostly responsible for the high placement, but wholesale and retail trade and real estate also contributed positively, while construction and government contributed negatively.

Most likely, next year's numbers will be even better.

The sun is shining and the economy is growing.

It's a good time to be an Iowan.


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I agree. I am relocating to northwest Iowa from Illinois where I live now. Lower taxes, better schools, much less corruption and the general feeling that things are just better and brighter in Iowa. Thank you for this great article! I agree 100%!

-- Posted by bburns01 on Thu, Jun 9, 2011, at 3:56 PM

IF IT WASN'T FOR YOUR (MY OPINION) 'HARSH WINTER'S I'D BE SORELY TEMPTED TO RELOCATE TO YOUR CITY. I FELL IN LOVE WITH SPECER ON MY FIRST VISIT. HARTLY WOULD BE MY SECOND CHOICE. EARTHQUAKES, FIRES, GANGS, CRIME, HIGH TAXES, WEIRD PEOPLE? YES! BUT THERE IS NO BETTER CLIMATE.

-- Posted by MEMOBLACK on Thu, Jun 9, 2011, at 10:29 PM

I FORGOT TO MENTION, SOUTHERN CALIFORNIA.

-- Posted by MEMOBLACK on Thu, Jun 9, 2011, at 10:31 PM

Being that SD is so closely located to Iowa--I find it interesting that it falls so far behind every thing that the letter writter has to say about Iowa!!!

-- Posted by iowagirl on Sat, Jun 11, 2011, at 4:09 PM


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Gabe Licht
Junior Moments