Lawyers Salary

Yes — at the median salary of $124K, rent takes 14.4% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,064/month. That stays under the 30% guideline most financial planners use.

The 10th-percentile wage — what new lawyers typically earn — is $64K/year. Take-home on that works out to about $3,827/month. At HUD’s $1,064/month FMR, rent would take 28% of that take-home — manageable on an entry-level income.

Local pay runs 23% below the national median — $124K here vs. $160K nationally. Cost of living is 11% below the national average, which narrows that gap in real purchasing power.

Iowa pays $124K median vs. the U.S. average of $160K — that’s -23%. After adjusting for local cost of living (RPP 88.86), the purchasing-power equivalent is $139K — below the national median.

The median is $123,550 a year, that works out to about $59 an hour. But the range is wide: entry-level workers start around $63,790, and experienced lawyers can clear $268,460. These are BLS numbers, based on employer-reported data, not self-reported surveys.

On that salary, you'd take home roughly $7,382/month after taxes. A 2-bedroom here rents for about $1,064/month, which eats 14.4% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.

Iowa has a Regional Price Parity of 88.86 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median lawyers salary is worth about $139,039 in national-average purchasing power.

The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.