Cost of Living in Springfield, MO
Housing
The housing market plays a significant role in determining the cost of living in Springfield, MO.
- Housing Index: 85.0 / 100
- Median Home Price is: $215,000
- Average Rent (2 BR Apartment): $900 per month
- Average Rent (2 BR House): $960 per month
In analyzing housing data for Springfield, MO, we see a housing index of 85.0 which indicates a generally affordable market. With a median home price of 215000, purchasing property appears accessible for many buyers. Additionally, average rents for 2-bedroom apartments at 900 and houses at 960 suggest reasonable living expenses. This affordability may not only enhance living conditions but could also indicate potential for growth in the area. For consideration, future economic developments may further impact these rates, making now an opportune time to explore this vibrant locale.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Springfield, MO.
- Electricity Price: $14.64 USD (median by state)
- Natural Gas Price: $23.25 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Springfield, MO could entail higher utility costs. Electricity costs sit at $14.64, while natural gas is priced at $23.25 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Springfield is a financially viable option for your relocation.