An Overview of Cost of Living in Dardenne Prairie, MO
The cost of living in Dardenne Prairie affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Dardenne Prairie is 113, which is 13% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
Housing costs are a very significant part of the Dardenne Prairie cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 56.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Dardenne Prairie Affordable?
Is Dardenne Prairie affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Dardenne Prairie, for instance, where the median home price falls 71.8% higher than the national average, and monthly rent rates are 20.7% higher than usual. Additionally, median income levels contribute to the equation, with Dardenne Prairie flaunting a median household income of $134,267, 142.7% higher than the national norm.
What Factors can Influence the Cost of Living in Dardenne Prairie?
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Dardenne Prairie, the groceries index registers 3.1% lower than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Dardenne Prairie, healthcare costs are 11.3% lower than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Dardenne Prairie, the transportation index is 6.5% lower than the national average.
Where is the Data From?
The cost of living data in Dardenne Prairie displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
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