Independence 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.
IndexIndependenceMissouriNational
Cost of living index8791100
IndexIndependenceMissouriNational
Goods & Services index10195100
Groceries index10097100
Health care index9797100
Housing index6479100
Transportation index9593100
Utilities index84104100
A general overview of the cost of living index for Independence, MO is displayed above. In Independence, MO, the overall cost of living index is 87, which is 4% lower than the Missouri average and 13% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Independence, MO, the city's goods and services are 6% higher than the Missouri average and 1% higher than the U.S. average.

Did you know?

  • The cost of living in Independence is 4% lower than the Missouri average.
  • The cost of living in Independence is 13% lower than the national average.
  • The cost of housing in Independence 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

This is how much you would need to earn in
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Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Independence, MO to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Independence, MO, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Independence, MO salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,364$4,697$1,315$1,691
Renters$27,235$2,270$635$817
The affordability of the housing market in Independence, MO as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Independence, MO homeowners, the median income is $56,364. This indicates that a monthly maximum of $1,315 should be spent by homeowners on all housing related costs. Renters have a median income of $27,235. This indicates that renters should have a maximum of $635 used for their rent related monthly costs.

Missouri Sales Tax

StateGeneral Sales TaxWith Max Surtax
Missouri4.225%9.35%

Missouri Income Tax

StateIncome Tax (Low)Income Tax (High)
Missouri1.5%6%
For those who live in Independence, MO and want to know what the true cost of living is, they ought to look at both the Missouri income tax rate and the Missouri sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Missouri, the sales tax is 4.225%, while the most you'll pay in surtax is 9.35%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Missouri, the income tax rate ranges between 1.5% to 6%.

Goods & Services

ItemIndependenceNational avg.Difference
Haircut $15.53$15.560.2%
Beauty Salon $30.80$36.1114.7%
Toothpaste $2.57$2.473.9%
Shampoo $0.92$0.964.7%
Movie $9.59$10.135.3%
Bowling $4.71$4.740.5%

Groceries

ItemIndependenceNational avg.Difference
Ground Beef $4.44$3.9811.5%
Fried Chicken $1.99$1.4141.4%
Milk $2.09$2.061.1%
Potatoes $2.60$2.9812.9%
Pizza $9.23$9.472.6%
Beer $8.16$8.797.2%

Health Care

ItemIndependenceNational avg.Difference
Optometrist $100.35$101.040.7%
Doctor $91.94$107.4414.4%
Dentist $91.87$90.421.6%
Ibuprofen $8.64$9.286.9%
Lipitor $436.91$426.502.4%

Housing

ItemIndependenceNational avg.Difference
Home Price $98,800.00$175,700.0043.8%
Avg. Mortgage Payment $899.88$1,133.2320.6%
Apartment Rent $761.00$920.0017.3%

Transportation

ItemIndependenceNational avg.Difference
Gasoline $1.85$1.997.2%
Tire Balancing $45.97$45.760.5%

Utilities

ItemIndependenceNational avg.Difference
All Electricity$148.92$163.819.1%
Phone $21.29$28.3925.0%
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, StatePopulationCost of Living IndexNational Avg.
River Bend, MO697-3%
Randolph, MO2683-17%
Birmingham, MO23383-17%
Sugar Creek, MO3,34486-14%
Kansas City, KS147,59886-14%
Independence, MO117,16087-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Springfield, IL116,81587-13%
Beaumont, TX117,54385-15%
Vallejo, CA118,07812222%
Ann Arbor, MI115,9851088%
Athens, GA118,51498-2%
Independence, MO117,16087-13%
Source: The Independence, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.