Monett 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.
IndexMonettMissouriNational
Cost of living index8591100
IndexMonettMissouriNational
Goods & Services index9499100
Groceries index8995100
Health care index9097100
Housing index6279100
Transportation index8787100
Utilities index119104100
An overview of the general cost of living index for Monett, MO is displayed above for your reference. Residents in Monett, MO enjoy a cost of living index of 85. This index is 7% lower than the Missouri average, and 15% 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 Monett, MO, the average cost of goods and services is 5% lower than it is in Missouri, and it is 6% lower than the national average.

Did you know?

  • The cost of living in Monett is 7% lower than the Missouri average.
  • The cost of living in Monett is 15% lower than the national average.
  • The cost of housing in Monett is 38% 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 Monett, MO Cost of living To Other Cities

Salary Calculator

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Health care index
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Using the salary calculator lets you compare the salary you earn in Monett, 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 Monett, MO, you have to earn a higher income in order to still have the same standard of living. To operate the Monett, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$47,196$3,933$1,101$1,416
Renters$27,788$2,316$648$834
One can approximate the cost of living and the housing affordability in Monett, 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 Monett, MO have a median income of $47,196. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,101 per month to avoid calamity and poverty. The renters in the city have an income of about $27,788, which would make their monthly maximum allowable rental costs $648.

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 Monett, 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

ItemMonettNational 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

ItemMonettNational 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

ItemMonettNational 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

ItemMonettNational avg.Difference
Home Price $107,200.00$175,700.0039.0%
Avg. Mortgage Payment $750.66$1,081.0330.6%
Apartment Rent $598.00$920.0035.0%

Transportation

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

Utilities

ItemMonettNational 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.
Chesapeake, MO4997-3%
Stella, MO13772-28%
Stotts City, MO14474-26%
Ritchey, MO6876-24%
Hoberg, MO4677-23%
Monett, MO8,93585-15%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bennington, VT8,93399-1%
Gunbarrel, CO8,93312828%
Quakertown, PA8,93911212%
Napoleon, OH8,94089-11%
Hondo, TX8,92984-16%
Monett, MO8,93585-15%
Source: The Monett, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.