Boonville, MO Cost Of Living

Boonville cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Boonville	Missouri	National
Cost of living index	87	90	100
Index	Boonville	Missouri	National
Goods & Services index	97	93	100
Groceries index	98	98	100
Health care index	100	97	100
Housing index	62	78	100
Transportation index	95	94	100
Utilities index	97	103	100

Here we can see a simple outline of the cost of living in Boonville, MO. As you can see, with the average cost of living in Boonville, MO being 87, that puts it 4% lower than the average of Missouri and 13% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Boonville, MO, the price of goods and services are 4% higher than the average of Missouri as well as 3% lower than the nation's average.

Did you know?

The cost of living in Boonville is 4% lower than the Missouri average.
The cost of living in Boonville is 13% lower than the national average.
The cost of housing in Boonville is 38% lower than the national average.
Missouri general sales tax is 17% lower than the national average.
Missouri state income tax is 33% lower than the national average.

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Salary Calculator

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is meant to help you compare your salary in Boonville, MO to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Boonville, MO, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Boonville, MO salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$53,291	$4,441	$1,243	$1,599
Renters	$26,085	$2,174	$609	$783

One can approximate the cost of living and the housing affordability in Boonville, MO by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Boonville, MO have a median income of $53,291. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,243 per month to avoid calamity and poverty. The renters in the city have an income of about $26,085, which would make their monthly maximum allowable rental costs $609.

Missouri Sales Tax

State	General Sales Tax	With Max Surtax
Missouri	4.225%	10.85%

Missouri Income Tax

State	Income Tax (Low)	Income Tax (High)
Missouri	1.5%	6%

One thing to keep in mind when considering the cost of living in Boonville, MO is the Missouri sales tax and Missouri income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Missouri sales tax rate is 4.225% and the maximum surtax that can be charged is 10.85%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Missouri income tax rates range from 1.5% to 6%.

Goods & Services

Item	Boonville	National avg.	Difference
Haircut	$15.44	$16.09	4.0%
Beauty Salon	$36.29	$37.33	2.8%
Toothpaste	$2.42	$2.45	1.3%
Shampoo	$0.84	$1.00	16.0%
Movie	$10.05	$10.28	2.2%
Bowling	$5.00	$4.93	1.4%

Groceries

Item	Boonville	National avg.	Difference
Ground Beef	$3.32	$3.80	12.6%
Fried Chicken	$1.42	$1.40	1.7%
Milk	$2.14	$2.01	6.6%
Potatoes	$2.64	$3.01	12.3%
Pizza	$10.10	$9.89	2.2%
Beer	$8.54	$8.90	4.0%

Health Care

Item	Boonville	National avg.	Difference
Optometrist	$81.33	$102.16	20.4%
Doctor	$127.06	$108.36	17.3%
Dentist	$80.51	$92.53	13.0%
Ibuprofen	$8.77	$9.28	5.5%
Lipitor	$459.88	$425.82	8.0%

Housing

Item	Boonville	National avg.	Difference
Home Price	$110,600.00	$184,700.00	40.1%
Avg. Mortgage Payment	$1,055.24	$1,202.44	12.2%
Apartment Rent	$643.00	$949.00	32.2%

Transportation

Item	Boonville	National avg.	Difference
Gasoline	$2.16	$2.24	3.6%
Tire Balancing	$42.29	$46.29	8.7%

Utilities

Item	Boonville	National avg.	Difference
All Electricity	$162.17	$165.96	2.3%
Phone	$27.96	$28.68	2.5%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Nelson, MO	175	77	-23%
Wooldridge, MO	27	78	-22%
Blackwater, MO	167	79	-21%
New Franklin, MO	1,256	81	-19%
Pilot Grove, MO	700	82	-18%
Boonville, MO	8,397	87	-13%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Dumbarton, VA	8,395	95	-5%
Haledon, NJ	8,399	120	20%
Runnemede, NJ	8,394	106	6%
Hornell, NY	8,400	85	-15%
Gonzales, CA	8,401	116	16%
Boonville, MO	8,397	87	-13%

Source: The Boonville, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Boonville, MO Cost of Living