Mexico, MO Cost Of Living

Mexico 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	Mexico	Missouri	National
Cost of living index	84	90	100
Index	Mexico	Missouri	National
Goods & Services index	97	93	100
Groceries index	98	98	100
Health care index	100	97	100
Housing index	54	78	100
Transportation index	95	94	100
Utilities index	97	103	100

An overview of the general cost of living index for Mexico, MO is displayed above for your reference. Residents in Mexico, MO enjoy a cost of living index of 84. This index is 7% lower than the Missouri average, and 16% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Mexico, MO, the average cost of goods and services is 4% higher than it is in Missouri, and it is 3% lower than the national average.

Did you know?

The cost of living in Mexico is 7% lower than the Missouri average.
The cost of living in Mexico is 16% lower than the national average.
The cost of housing in Mexico is 46% 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 Mexico, MO Cost of living To Other Cities

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

Using the salary calculator lets you compare the salary you earn in Mexico, MO to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Mexico, MO, you have to earn a higher income in order to still have the same standard of living. To operate the Mexico, MO salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$51,173	$4,264	$1,194	$1,535
Renters	$24,788	$2,066	$578	$744

The affordability of the housing market in Mexico, 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 Mexico, MO homeowners, the median income is $51,173. This indicates that a monthly maximum of $1,194 should be spent by homeowners on all housing related costs. Renters have a median income of $24,788. This indicates that renters should have a maximum of $578 used for their rent related monthly costs.

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%

When you are determining the total cost of living in Mexico, MO you will want to make sure you consider both the Missouri sales tax and the Missouri income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Missouri is 4.225%, with the highest surtax being 10.85%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Missouri have a range from 1.5% to 6%.

Goods & Services

Item	Mexico	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	Mexico	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	Mexico	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	Mexico	National avg.	Difference
Home Price	$87,200.00	$184,700.00	52.8%
Avg. Mortgage Payment	$1,055.24	$1,202.44	12.2%
Apartment Rent	$654.00	$949.00	31.1%

Transportation

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

Utilities

Item	Mexico	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.
Benton City, MO	172	76	-24%
Laddonia, MO	565	79	-21%
Vandiver, MO	121	81	-19%
Centralia, MO	4,167	83	-17%
Martinsburg, MO	343	83	-17%
Mexico, MO	11,622	84	-16%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Fulton, NY	11,622	85	-15%
Robstown, TX	11,622	81	-19%
Wallington, NJ	11,618	130	30%
East Bethel, MN	11,618	109	9%
Guttenberg, NJ	11,628	141	41%
Mexico, MO	11,622	84	-16%

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

Mexico, MO Cost of Living