News

Springfield ranks #1 for cost of living in MO

By: Rachael Snow | 4 years ago

In the third quarter 2013 Cost of Living Index, Springfield ranked as the least expensive place to live in Missouri, of the six participating metros in our state. Springfield had a composite index of 88.6, compared to the national average of 100. The survey of 306 urban areas across the country is meant to determine the after-tax cost to achieve a professional/managerial standard of living.

The Cost of Living Index measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile. It is based on more than 90,000 prices covering 60 different items for which prices are collected quarterly. For more information and to view comparison graphs of Springfield to other metros, please click here.