Safe Rate Local

Cost of Living in Missouri

Is it better to rent or buy in Missouri? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

← Back to Missouri Hub

Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$77,373
$1,089/mo

Median in area: $1,089

$241,094

Median in area: $241,094

$48,219

If you Rent

🔑
$1,291 /mo
Base Rent$1,089
Est. Utilities$202
% of Income20.0%
Pre-tax Residual$5,157

If you Buy

🏠
$1,772 /mo
P&I (6.936%)$1,275
Taxes & Ins$295
Est. Utilities$202
% of Income27.5%
Pre-tax Residual$4,676

Cost of Living FAQs

Is it cheaper to rent or buy in Missouri?›

Based on median housing data, renting is currently more affordable on a monthly basis in Missouri. The estimated all-in monthly cost for renting is $1,291, while owning a median-priced home with a 20% down payment is roughly $1,772 per month (a difference of $481).

How much do utilities cost in Missouri?›

The average monthly utility cost (electricity and natural gas) for a typical home in Missouri is approximately $202. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Missouri?›

To comfortably afford the median rent and utilities in Missouri without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $51,640 per year.