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: $215000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 88.0

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $43450

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Springfield, MO, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.