B+
2%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
7%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Columbia Missouri National
Cost of living9888100
Goods & Services9592100
Groceries9695100
Health care9390100
Housing10778100
Transportation9091100
Utilities9399100

An Overview of Cost of Living in Columbia, MO

Understanding the cost of living in Columbia can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Columbia cost of living index is 98, which is 2% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Everyday expenditures like food, housing, goods and services, transportation and health care in Columbia are priced in a manner consistent with other areas. This means that residents of Columbia can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

What Do Locals Say About the Cost of Living in Columbia?

The real experts on a city are its residents. That's why we reached out to 8 locals to get their views on the cost of living in Columbia. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 88% found it budget-friendly with decreasing prices, while 13% said it's simply not affordable as prices have continued to rise.

Is Columbia Affordable?

Is Columbia affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Columbia, for instance, where the median home price falls 12.8% higher than the national average, and monthly rent rates are 6.2% lower than usual. Additionally, median income levels contribute to the equation, with Columbia flaunting a median household income of $53,447, 3.4% lower than the national norm.

What Factors can Influence the Cost of Living in Columbia?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Columbia, the transportation index is 10.4% lower than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Columbia, the utilities index registers 7% lower than the national average.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Columbia starts at 4.225% and the income tax rates start at 1.5%.

Where is the Data From?

The Columbia cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Columbia is 11% higher than the Missouri average
  • The cost of living in Columbia is 2% lower than the national average
  • Columbia housing is 7% higher than the national average
  • Missouri general sales tax is 17% lower than the national average
  • Missouri state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Columbia

See all the best places to live around Columbia

Compare Columbia, MO Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$90,148$7,512$2,103$2,705
      Renters$32,424$2,702$757$973
      To approximate the cost of living and the housing affordability in Columbia, MO, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Columbia have a median income of $90,148. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,103 per month to avoid calamity and poverty. The renters in the city have an income of about $32,424, which would make their monthly maximum allowable rental costs $757.

      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 2% 4.95%

      Goods & Services

      Item Columbia National avg. Difference
      Haircut $24.14$24.260.5%
      Beauty Salon $44.94$45.561.4%
      Toothpaste $3.76$3.701.6%
      Shampoo $1.05$1.2817.7%
      Movie $11.64$12.134.0%
      Bowling $16.11$18.0010.5%

      Groceries

      Item Columbia National avg. Difference
      Ground Beef $6.28$5.847.5%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.66$4.670.3%
      Potatoes $4.70$4.934.7%
      Pizza $10.74$12.0911.1%
      Beer $9.14$10.4112.2%

      Health Care

      Item Columbia National avg. Difference
      Optometrist $135.25$125.687.6%
      Doctor $141.87$135.784.5%
      Dentist $99.33$113.2912.3%
      Ibuprofen $10.20$10.654.2%
      Lipitor $369.77$468.6021.1%

      Housing

      Item Columbia National avg. Difference
      Home Price $208,300.00$184,700.0012.8%
      Avg. Mortgage Payment $2,216.67$2,346.695.5%
      Apartment Rent $890.00$949.006.2%

      Transportation

      Item Columbia National avg. Difference
      Gasoline $3.24$3.466.3%
      Tire Balancing $47.66$59.9220.5%

      Utilities

      Item Columbia National avg. Difference
      All Electricity $168.45$193.9913.2%
      Phone $197.21$192.252.6%
      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 Population Cost of Living Index National Avg.
      McBaine, MO8946.2%
      Huntsdale, MO21946.2%
      Lupus, MO227722.7%
      Prairie Home, MO2438019.6%
      Jamestown, MO3828218.4%
      Columbia, MO122,659982.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Odessa, TX122,630963.9%
      Hartford, CT122,5491043.9%
      Victorville, CA122,95811716.5%
      Berkeley, CA123,065221121.2%
      Wilmington, NC122,1621098.7%
      Columbia, MO122,659982.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.