Lamar 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.
IndexLamarMissouriNational
Cost of living index8291100
IndexLamarMissouriNational
Goods & Services index9499100
Groceries index8995100
Health care index9097100
Housing index5279100
Transportation index8787100
Utilities index119104100
The above illustration supplies generalized information for the Lamar, MO cost of living index. Compared to other cities in Missouri and cities across the country, the cost of living index in Lamar, MO is 82, which is 10% lower than the Missouri average and 18% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Lamar, MO are 5% lower than the average for Missouri and 6% lower than the rest of the country.

Did you know?

  • The cost of living in Lamar is 10% lower than the Missouri average.
  • The cost of living in Lamar is 18% lower than the national average.
  • The cost of housing in Lamar is 48% 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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Compare Lamar, MO Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Lamar, MO to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Lamar, MO, then you would need to earn more income in order to maintain the same standard of living. To use the Lamar, MO salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,504$4,625$1,295$1,665
Renters$13,167$1,097$307$395
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lamar, MO as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Lamar, MO homeowners, is $55,504. This would allow for a maximum of $1,295 per month to be spent on housing costs. For renters, the median monthly income is $13,167 which would result in a maximum of $307 to be spent on rental 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%
When assessing the complete cost of living in Lamar, MO, the Missouri income tax and the Missouri sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Missouri maximum surtax is 9.35%, and the Missouri sales tax is 4.225%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1.5% to 6% in Missouri.

Goods & Services

ItemLamarNational avg.Difference
Haircut $14.60$14.590.0%
Beauty Salon $19.43$34.6844.0%
Toothpaste $1.95$2.4721.2%
Shampoo $0.93$1.029.0%
Movie $10.00$9.871.3%
Bowling $3.50$4.3920.3%

Groceries

ItemLamarNational avg.Difference
Ground Beef $4.83$4.487.9%
Fried Chicken $1.45$1.461.0%
Milk $2.49$2.365.7%
Potatoes $2.22$3.0627.5%
Pizza $12.49$9.2435.1%
Beer $8.28$8.634.1%

Health Care

ItemLamarNational avg.Difference
Optometrist $84.75$99.7815.1%
Doctor $95.00$105.039.6%
Dentist $75.50$88.7014.9%
Ibuprofen $7.48$9.4120.5%
Lipitor $307.55$298.503.0%

Housing

ItemLamarNational avg.Difference
Home Price $85,500.00$175,700.0051.3%
Avg. Mortgage Payment $750.66$1,081.0330.6%
Apartment Rent $538.00$920.0041.5%

Transportation

ItemLamarNational avg.Difference
Gasoline $1.72$2.0917.9%
Tire Balancing $45.95$45.291.5%

Utilities

ItemLamarNational avg.Difference
All Electricity$192.87$170.8012.9%
Phone $35.75$28.2626.5%
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, StatePopulationCost of Living IndexNational Avg.
Irwin, MO1895-5%
Sheldon, MO72976-24%
Golden City, MO68976-24%
Jerico Springs, MO22377-23%
Liberal, MO74477-23%
Lamar, MO4,49982-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hartwell, GA4,49984-16%
Gardnertown, NY4,49813030%
Wahoo, NE4,50090-10%
Penitas, TX4,49870-30%
Hayfield, VA4,50114646%
Lamar, MO4,49982-18%
Source: The Lamar, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.