Cost Of Living In Boonville, MO

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	88	91	100
Index	Boonville	Missouri	National
Goods & Services index	100	95	100
Groceries index	98	97	100
Health care index	101	97	100
Housing index	64	79	100
Transportation index	92	93	100
Utilities index	105	104	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 88, that puts it 3% lower than the average of Missouri and 12% 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 5% higher than the average of Missouri as well as equal to the nation's average.

Did you know?

The cost of living in Boonville is 3% lower than the Missouri average.
The cost of living in Boonville is 12% lower than the national average.
The cost of housing in Boonville is 36% 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	$55,091	$4,591	$1,285	$1,653
Renters	$24,630	$2,053	$575	$739

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 $55,091. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,285 per month to avoid calamity and poverty. The renters in the city have an income of about $24,630, which would make their monthly maximum allowable rental costs $575.

Missouri Sales Tax

State	General Sales Tax	With Max Surtax
Missouri	4.225%	9.35%

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 9.35%. 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	$14.53	$15.56	6.6%
Beauty Salon	$40.48	$36.11	12.1%
Toothpaste	$2.84	$2.47	14.7%
Shampoo	$1.24	$0.96	28.8%
Movie	$9.92	$10.13	2.0%
Bowling	$5.13	$4.74	8.3%

Groceries

Item	Boonville	National avg.	Difference
Ground Beef	$3.68	$3.98	7.6%
Fried Chicken	$1.48	$1.41	5.2%
Milk	$2.15	$2.06	4.2%
Potatoes	$2.90	$2.98	2.9%
Pizza	$8.22	$9.47	13.3%
Beer	$8.57	$8.79	2.5%

Health Care

Item	Boonville	National avg.	Difference
Optometrist	$82.46	$101.04	18.4%
Doctor	$116.17	$107.44	8.1%
Dentist	$88.31	$90.42	2.3%
Ibuprofen	$9.54	$9.28	2.8%
Lipitor	$445.29	$426.50	4.4%

Housing

Item	Boonville	National avg.	Difference
Home Price	$107,700.00	$175,700.00	38.7%
Avg. Mortgage Payment	$1,000.93	$1,133.23	11.7%
Apartment Rent	$634.00	$920.00	31.1%

Transportation

Item	Boonville	National avg.	Difference
Gasoline	$1.86	$1.99	6.6%
Tire Balancing	$40.87	$45.76	10.7%

Utilities

Item	Boonville	National avg.	Difference
All Electricity	$161.00	$163.81	1.7%
Phone	$32.49	$28.39	14.4%

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	210	78	-22%
Franklin, MO	73	79	-21%
Blackwater, MO	147	83	-17%
New Franklin, MO	1,229	84	-16%
Bunceton, MO	350	84	-16%
Boonville, MO	8,320	88	-12%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Millersville, PA	8,320	99	-1%
Bluffdale, UT	8,319	121	21%
Nevada, MO	8,318	80	-20%
Lake Park, FL	8,317	97	-3%
Castle Shannon, PA	8,317	86	-14%
Boonville, MO	8,320	88	-12%

Source: The Boonville, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Boonville, MO Cost of Living