What is the cost of living in Missouri?
The cost of living in Missouri is 3.7% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Missouri is $86,410 vs the national average for a family of four with two working parents of $89,744. The median income of a Missouri household is $57,290.
The average home price in Missouri is $163,600, which is lower than the US average home price of $229,800. Median rent in Missouri is $843/mo which is lower than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 2.9 to 1. That means it takes roughly 2.9 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Missouri has a low cost of living compared to America as a whole.
People Also Ask About Missouri
Is Missouri a dangerous state?
Yes, Missouri is a dangerous state as it ranks as the #7 most dangerous state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Missouri ranks sixth most dangerous in the United States -- 46.76% worse than US average violent crime rate. The property crime rate in the Show Me State ranks ninth most dangerous in the United States -- 29.5% worse than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Kansas City, MO a dangerous city?
Yes, Kansas City is a dangerous city. Kansas City ranks as the #20 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Kansas City might be considered dangerous you still need to be aware of where you are. For example, Blue Hills Estates is the safest in Kansas City, while South Blue Valley is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Kansas City ranks 12th highest in America -- 167.63% worse than US average violent crime rate. The property crime rate in the ranks 26th highest in the United States -- 72.81% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in Missouri has the lowest cost of living?
The county in Missouri with the lowest cost of living is Adair County. The average living wage in Adair County is $77,540 according to MIT data. Adair County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Missouri as a whole. Childcare costs $7,243 a year in Adair County for two children compared to the Missouri average of $12,674. Housing costs, defined as a blend of the average rent and average mortgage payment, are $7,944 per year in Adair County compared to $10,297 on average in Missouri.
What is the cheapest housing market in Missouri?
The cheapest housing market in Missouri is Jennings. The average home value in Jennings is $62,500, the lowest in the state. The average home value in Missouri is $163,600, almost 2.6 times higher than Jennings.