A wise sage once said:
“She works hard for the money…”
And these places in Missouri definitely treat her right.
You see, these are the cities and places in Missouri where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the Show Me State, then the cost of living should play a role in the decision.
So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 129 largest places in Missouri, we were left with this set of the best value for your money.
So where is the cheapest place to live in Missouri? That would be Bonne Terre.
So listen up University City (the most expensive place in Missouri) as we explain how we created this ranking. You could learn some things from the rest of the state.
And if you already knew these places were cheap, check out some more reading about Missouri and the cheapest places in the country:
How We Determined The Most Affordable Places To Live In The Show Me State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Missouri to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 129 places in Missouri that have more than 5,000 people.
The place with the lowest cost of living in Missouri according to the data is Bonne Terre.
The 10 Cheapest Places To Live In Missouri For 2019
/10
Population: 7,138
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 1.6x (1st most affordable)
Income To Rent Ratio: 82.6x (12th cheapest)
More On Bonne Terre: Homes For Sale | Data
Bonne Terre is a city in St. Francois County, Missouri, United States. The population was 6,864 at the 2010 census.
The median income in Bonne Terre comes in at $50,654 and the median home value is $80,600 for 2019.
/10
Population: 8,592
Rank Last Year: 8 (Up 6)
Home Price To Income Ratio: 2.0x (14th most affordable)
Income To Rent Ratio: 63.6x (60th cheapest)
More On Park Hills: Homes For Sale | Data | Photos
Park Hills is a city in St. Francois County, Missouri. The population was 8,759 at the 2010 census.
The median income in Park Hills comes in at $36,868 and the median home value is $75,400 for 2019.
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Population: 12,864
Rank Last Year: 38 (Up 35)
Home Price To Income Ratio: 1.9x (6th most affordable)
Income To Rent Ratio: 60.9x (75th cheapest)
More On St. Ann: Homes For Sale | Data | Photos
St. Ann is an inner-ring suburb of St. Louis in mid St. Louis County, Missouri, United States. The population was 13,020 at the 2010 census.
The median income in St. Ann comes in at $46,680 and the median home value is $87,000 for 2019.
/10
Population: 11,148
Rank Last Year: 4 (No Change)
Home Price To Income Ratio: 2.1x (16th most affordable)
Income To Rent Ratio: 66.9x (47th cheapest)
More On Webb City: Homes For Sale | Data | Photos
Webb City is a city in Jasper County, Missouri, United States. The population was 10,996 at the 2010 census. It is part of the Joplin, Missouri Metropolitan Statistical Area. Webb City also has a police department, a fire department, and animal control services.
The median income in Webb City comes in at $48,318 and the median home value is $102,200 for 2019.
/10
Population: 5,609
Rank Last Year: 13 (Up 8)
Home Price To Income Ratio: 2.3x (34th most affordable)
Income To Rent Ratio: 70.6x (39th cheapest)
More On Richmond: Homes For Sale | Data | Photos
Richmond is a city in Ray County, Missouri, United States. The population was 5,797 at the 2010 census. It is the county seat of Ray County.
The median income in Richmond comes in at $40,575 and the median home value is $94,800 for 2019.
/10
Population: 5,412
Rank Last Year: 3 (Down 3)
Home Price To Income Ratio: 2.5x (59th most affordable)
Income To Rent Ratio: 79.0x (21st cheapest)
More On Macon: Homes For Sale | Data | Photos
Macon is a city in Macon County, Missouri, United States. The population was 5,500 at the 2012 census. It is the county seat of Macon County.
The median income in Macon comes in at $35,857 and the median home value is $90,200 for 2019.
/10
Population: 13,775
Rank Last Year: 33 (Up 26)
Home Price To Income Ratio: 2.2x (18th most affordable)
Income To Rent Ratio: 60.3x (79th cheapest)
More On Moberly: Homes For Sale | Data | Photos
Moberly is a city in Randolph County, Missouri, United States. The population was 13,974 at the 2010 census.
The median income in Moberly comes in at $37,023 and the median home value is $79,800 for 2019.
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Population: 7,722
Rank Last Year: 5 (Down 3)
Home Price To Income Ratio: 2.0x (9th most affordable)
Income To Rent Ratio: 73.0x (32nd cheapest)
More On Carl Junction: Homes For Sale | Data
Carl Junction is a city in Jasper County, Missouri, United States. The population was 7,445 at the 2010 census. It is part of the Joplin, Missouri Metropolitan Statistical Area.
The median income in Carl Junction comes in at $70,000 and the median home value is $136,600 for 2019.
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Population: 5,915
Rank Last Year: 2 (Down 7)
Home Price To Income Ratio: 2.3x (28th most affordable)
Income To Rent Ratio: 61.8x (68th cheapest)
More On Trenton: Homes For Sale | Data | Photos
Trenton is a city in Grundy County, Missouri, United States. The population was 6,001 at the 2010 census. It is the county seat of Grundy County. The city claims to be the world’s largest producer of vienna sausages.
The median income in Trenton comes in at $36,590 and the median home value is $84,000 for 2019.
/10
Population: 5,200
Rank Last Year: 20 (Up 10)
Home Price To Income Ratio: 2.4x (47th most affordable)
Income To Rent Ratio: 81.7x (13th cheapest)
More On Odessa: Homes For Sale | Data
Odessa is a city in Lafayette County, Missouri, United States. The population was 5,300 at the 2010 census.
The median income in Odessa comes in at $50,419 and the median home value is $122,400 for 2019.
There You Have It Mr. Or Mrs. Missouri Cheapskate
If you’re looking at the cost of living numbers in Missouri, this is an accurate list of the most affordable places to live in missouri for 2019.
Here’s a look at the most expensive cities in Missouri according to the data:
- University City
- Columbia
- St. Robert
For more Missouri reading, check out:
- These Are The 10 Best Counties To Live In Missouri
- 10 Best Places To Raise A Family In Missouri
- These Are The 10 Best Places To Retire In Missouri
Detailed List Of The Cheapest Places To Live In Missouri
| Rank | City | CheapScore |
|---|---|---|
| 1 | Bonne Terre | 8.33 |
| 2 | Park Hills | 27.0 |
| 3 | St. Ann | 32.67 |
| 4 | Webb City | 33.0 |
| 5 | Richmond | 33.67 |
| 6 | Macon | 34.33 |
| 7 | Moberly | 35.83 |
| 8 | Carl Junction | 37.0 |
| 9 | Trenton | 37.17 |
| 10 | Odessa | 39.0 |
