The most expensive city to live in for each of the 50 states has been released. In Iowa, it's the home of the University of Iowa, but it's not nearly as bad as you may think.

24/7 Wall St. compiled the list for each state, based on average money spent on expenses like food, clothing, shelter, and entertainment. According to the Bureau of Economic Analysis, the average American household spends $53,495 on those items and other expenses. That's less than $100 more than the average American household earns each year ($53,576). Those are alarming numbers.

How about Iowa City? The cost of living is 3.7% below the national average, while the state of Iowa is 9.7% less expensive (11th lowest in the U.S.). Iowa City has a poverty rate of 16 percent and median household income of $59,791. It may be Iowa's most expensive city to live in, but it's still pretty darn awesome.

You can see the most expensive city in each state here.