What Is The Cost of Living In Missouri In 2022?
When compared to other states, the cost of living in Missouri looks pretty good. In Missouri, the cost of living is $1,596, which is 1.11 times cheaper than the country’s average. Missouri sits on the 41st position on the list of most expensive and 2nd best states to reside in the country.
The median salary after taxes in the state is $3,534, which is capable of covering living costs for two months and two weeks.
Missouri ranks 11th with a total cost of living index of 91.5. To further explain the statistics, Missouri falls below the average in each category of cost of living except utilities.
Housing cost 78.4% of the national average, groceries cost 95.1%, transportation 93%, and healthcare 97%.
Let’s take a look at each cost of living in Missouri.
In this article
Housing Costs in Missouri
Housing is among the largest categories of cost of living. In the state, a home’s worth is typical $151,600; $53,300 cheaper than the national average with a home value of $204,900. House built in 1939 or earlier in the state cost an average of $109,000, while $276,200 is the median value of a house constructed in 2014 or later.
Renter in Missouri typically spends $809 per month on housing, and that is $214 cheaper than the national average monthly rent of $1,023. Rent for a 1-bedroom in Missouri is $643 per month, while rent for a unit for 5 bedrooms or more is $1,126.
Food Costs in Missouri
Food is one other daily expense that has a huge effect on the total cost of living in any place. The United States Department of Agriculture’s data reveals that the cost of food varies from one state to another. A single Adult in Missouri spends $3,001 on food, on average per year, and a family of 4 in the state spends an average of $8,666.
To put it in context, the U.S. average annual food cost for a single adult is $3,240 and $9,354 for a family of 4. These estimates are given for a nutritionally sufficient diet of food bought at a grocery store for preparation at home.
Cost of Health Care in Missouri
Out-of-pocket costs as well as insurance premiums for health care – considering a minimum of a basic level of health insurance plan – are on the high side in Missouri. The average of healthcare for a single adult in Missouri is $4,576 per annum, compared to the country’s average of $4,266.
A family of 4 will spend an average of $13,879 every year, which is $929 above the national average of $12,950 when compared.
Education Cost in Missouri
The cost for items like crèche or pre-school fees, primary school fees, high school, and tertiary study fees is high. A basket that goes for $30,000 in New York costs $29,700 here. The median yearly private international school fee (exclude extras) is $19,306 for primary school, while High School goes for $21,484.
Transportation Costs in Missouri
Transportation can also be a huge factor in the cost of living. Over ninety percent (90.6% to be precise) of commuters in the state drive to work, compared to 85.5% of commuters across the country. A motorist in Missouri drives an average of 12,427 miles per annum.
Considering median fuel economy as well as the median cost of gas – there is an average of $1.92 for regular fuel cost in Missouri in the mid-2020. In Missouri, the average motorist can prepare to spend $988 per year and only on gas.
Other transportation expenses, such as car insurance premiums, can vary based on the state. The average car insurance premium in Missouri is $1,213, cheaper than $1,517 country’s average based on data from insure.com. Data from the EPI revealed that the average single adult in Missouri spends $10,080 per year on transportation.
Child Care Costs in Missouri
Child care increases the overall yearly spending of families. The median yearly cost of childcare for a 4-year-old kid in the state is $6,370, lesser than the country’s average of $8,903. Also, caring for a 4-year-old child every year in Missouri costs $12,087 compared to the national average of $15,853.
Costs of Recreation & Culture
Cost for items like cinema, theatre tickets, books, and sport is low. A basket that costs $500 in NY costs $305 here. The median price for a new release international cinema ticket (median of on and off-peak where relevant) for a single adult is $14.36. The cost of an international fitness, sports club, or recreation membership is $42 per month.
Alcohol and/or Tobacco Costs
The cost for items like spirits, wine, beer, and products from tobacco, such as cigarettes is average. A basket that costs $1,000 in NY costs $780 here. The median price for a mid-level bottle of wine in a store is $14.66, imported/international beer (330ml) is $3.70, domestic/local beer (500ml) is $2.84, and a pack of cigarettes is $8.65.
Costs for items like casual, business, children’s clothing, and footwear are average. A basket that cost $1,000 in NY costs $800 here. The median price for an international brand of men’s jeans is $42, men’s leather shoes perfect for office wear is $93, a quality international brand of running shoes costs $70, while a mid-size international summer dress from an international chain store is $34.
Costs for items like linen, office supplies, dry cleaning, newspapers, magazines, and postage stamps are low. A basket that costs $500 in NY costs $260 here. The median price for dry cleaning is $5.06, while a global newspaper costs $1.56.
Taxes in Missouri
There are only a few expenses that vary so much from one state to another. One of them is taxes. Taking the state and federal income taxes into account, including Social Security contributions as well as Medicare payroll, the average adult working in the state pays yearly taxes of $5,639 – cheaper than the national average of $6,542.
Apart from federal taxes and adding state and local taxes like sales and property taxes – Missouri’s state and local tax burden is below the national average, in general. The per capita state tax in the state is $2,126 per annum, compared to the average of the U.S. at $3,151.
Are Wages in Missouri Good Enough to cover the Cost of Living?
It depends on your occupation, your marital status (if single or married), the number of kids you have, the kind of housing you are going for, and how much you spend every month.
In 2014, the average household income in Missouri (which means the income value that sits right in the middle of the range) was $48,363, or around $5,300 lesser than the average country’s household income. It is also 6.16% cheaper than the average income in the state at $41,535 when it got to the topmost level back in 2008.
For all kinds of work, the average yearly wage in Missouri in 2015 was $43,640. A budget that includes housing, health care, groceries, transportation, and utilities and lies around the center of the cost of living range should be enough to pay for essentials comfortably. Wages in Missouri vary a lot. Median wages by occupation start from below $20,000 to over $275,000 per annum. Your income will determine how you plan for the basics in the cost of the living budget.
FAQ about Cost of Living in Missouri
For over 18 quarters ago, the state has been among the top 10 for cheapest cost of living in the country. MERIC determines the cost of living index for individual states by calculating the average indices of each city in the state. The cost of living index in Missouri for the second 1uarter of 2021 was 90.1.
There are just lots of variables, such as whether you are married or living with someone, whether you have children, as well as other considerations. Knowing that the median cost to live in Missouri is between $2,202 and $6,411 each month.
Registered nurses, drive or sales workers and, truck drivers involving 71,079 people, as well as other managers involving 66,426, are the most common jobs that residents of Missouri hold.
ZipRecruiter says income as high as $127,115 and as low as $19,161 are enough, most salaries within the median job categories range between $46,266 (25%) to $69,165 (75%) with top earners (90%) earning $84,120 per annum in the state.
The labor market in Missouri revealed an increase of almost a quarter-million jobs from April 2020 to April 2021. The smoothed seasonally modified unemployment rate in Missouri reduced by a 10th of a percentage in April 2021, falling to 4.1% from a rate of 4.2% in March 2021.
The cost of living in any location can vary depending on factors like your career, your average income, and the housing market of that location. The cost of living for ex-pats in the state as of October 2021 is average when compared to other locations in the world.