Odessa 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.
IndexOdessaMissouriNational
Cost of living index8891100
IndexOdessaMissouriNational
Goods & Services index10399100
Groceries index8995100
Health care index9997100
Housing index6879100
Transportation index8787100
Utilities index93104100
A general overview of the cost of living index for Odessa, MO is displayed above. In Odessa, MO, the overall cost of living index is 88, which is 4% lower than the Missouri average and 12% 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 Odessa, MO, the city's goods and services are 5% higher than the Missouri average and 3% higher than the U.S. average.

Did you know?

  • The cost of living in Odessa is 4% lower than the Missouri average.
  • The cost of living in Odessa is 12% lower than the national average.
  • The cost of housing in Odessa is 32% 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 Odessa, MO Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Odessa, 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 Odessa, MO, you have to earn a higher income in order to still have the same standard of living. To operate the Odessa, 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$66,952$5,579$1,562$2,009
Renters$19,507$1,626$455$585
If you want to find a good determining factor for the cost of living and the general affordability of housing in Odessa, MO, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Odessa, MO, the median monthly income is $66,952 for those who own their own homes. Under the standard rule, that income level would allow for $1,562 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $19,507, per the median income in the area. That would allow for renters to spend up to $455 on monthly rental expenses.

Missouri Sales Tax

StateGeneral Sales TaxWith Max Surtax
Missouri4.225%9.35%

Missouri Income Tax

StateIncome Tax (Low)Income Tax (High)
Missouri1.5%6%
The Missouri sales tax and Missouri income tax rates should definitely be considered when determining the overall cost of living in Odessa, MO. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Missouri sales tax is 4.225% and the maximum surtax is 9.35%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Missouri income tax rates range from 1.5% to 6%.

Goods & Services

ItemOdessaNational avg.Difference
Haircut $14.67$14.590.5%
Beauty Salon $32.43$34.686.5%
Toothpaste $1.86$2.4724.8%
Shampoo $1.17$1.0214.5%
Movie $9.36$9.875.2%
Bowling $4.11$4.396.4%

Groceries

ItemOdessaNational avg.Difference
Ground Beef $4.74$4.485.9%
Fried Chicken $1.25$1.4614.6%
Milk $2.35$2.360.3%
Potatoes $2.52$3.0617.7%
Pizza $7.49$9.2419.0%
Beer $7.77$8.6310.0%

Health Care

ItemOdessaNational avg.Difference
Optometrist $95.50$99.784.3%
Doctor $101.50$105.033.4%
Dentist $89.10$88.700.4%
Ibuprofen $8.37$9.4111.1%
Lipitor $306.77$298.502.8%

Housing

ItemOdessaNational avg.Difference
Home Price $120,100.00$175,700.0031.6%
Avg. Mortgage Payment $1,000.66$1,081.037.4%
Apartment Rent $629.00$920.0031.6%

Transportation

ItemOdessaNational avg.Difference
Gasoline $1.77$2.0915.5%
Tire Balancing $43.05$45.294.9%

Utilities

ItemOdessaNational avg.Difference
All Electricity$162.80$170.804.7%
Phone $25.01$28.2611.5%
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.
Levasy, MO8777-23%
Mayview, MO36378-22%
Dover, MO9980-20%
Lake Lafayette, MO37281-19%
Fleming, MO11184-16%
Odessa, MO5,23788-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Tucumcari, NM5,23776-24%
Ironwood, MI5,23777-23%
Sugarcreek, PA5,23876-24%
Center, TX5,23982-18%
Springhill, LA5,23979-21%
Odessa, MO5,23788-12%
Source: The Odessa, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.