Cost of Living: Midland, TX vs Richmond, MO
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Midland | Richmond |
|---|---|---|
| Housing Index | 85.0 | 90.0 |
| Median Home Price | $345,000 | $150,000 |
| Average Rent (2 BR Apartment) | $1200 | $720 |
| Average Rent (2 BR House) | $1270 | $800 |
Housing Comparison: Midland vs Richmond
- In Midland, the median home price is higher at $345,000, while in Richmond it is $150,000.
- In Richmond, the rental for a two-bedroom apartment stands at $720, while it is $1,200 in Midland.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Midland | Richmond |
|---|---|---|
| Electricity Price | $14.47 | $14.64 |
| Natural Gas Price | $26.29 | $23.25 |
| Other Utilities | $200 | $200 |
Utilities Comparison: Midland vs Richmond
- Richmond has higher electricity costs at $14.64 per kWh, versus $14.47 in Midland.
- Natural gas is more expensive in Midland at $26.29 per unit, while it is cheaper at $23.25 in Richmond.
- Utility expenses are equal in both Midland and Richmond averaging $200.