Cost Of Living in Lexington, MO

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14%

Overall NAT. AVG.

9%

Goods & Services NAT. AVG.

32%

Housing NAT. AVG.

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	Lexington	Missouri	National
Cost of living	86	88	100
Goods & Services	92	92	100
Groceries	97	95	100
Health care	84	90	100
Housing	68	78	100
Transportation	89	91	100
Utilities	109	99	100

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Cost Of Living Quick Facts

The cost of living in Lexington is 2% lower than the Missouri average
The cost of living in Lexington is 14% lower than the national average
Lexington housing is 32% lower 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

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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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$73,036	$6,086	$1,704	$2,191
Renters	$42,424	$3,535	$990	$1,273

To approximate the cost of living and the housing affordability in Lexington, 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 Lexington have a median income of $73,036. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,704 per month to avoid calamity and poverty. The renters in the city have an income of about $42,424, which would make their monthly maximum allowable rental costs $990.

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	Lexington	National avg.	Difference
Haircut	$20.30	$24.26	16.3%
Beauty Salon	$33.43	$45.56	26.6%
Toothpaste	$3.70	$3.70	0.2%
Shampoo	$1.42	$1.28	10.9%
Movie	$12.03	$12.13	0.9%
Bowling	$15.57	$18.00	13.5%

Groceries

Item	Lexington	National avg.	Difference
Ground Beef	$6.31	$5.84	8.0%
Fried Chicken	$1.40	$1.57	11.0%
Milk	$4.62	$4.67	1.0%
Potatoes	$5.24	$4.93	6.2%
Pizza	$11.48	$12.09	5.0%
Beer	$9.39	$10.41	9.8%

Health Care

Item	Lexington	National avg.	Difference
Optometrist	$96.50	$125.68	23.2%
Doctor	$90.20	$135.78	33.6%
Dentist	$100.33	$113.29	11.4%
Ibuprofen	$10.67	$10.65	0.2%
Lipitor	$474.53	$468.60	1.3%

Housing

Item	Lexington	National avg.	Difference
Home Price	$123,300.00	$184,700.00	33.2%
Avg. Mortgage Payment	$2,152.92	$2,346.69	8.3%
Apartment Rent	$667.00	$949.00	29.7%

Transportation

Item	Lexington	National avg.	Difference
Gasoline	$3.17	$3.46	8.3%
Tire Balancing	$49.17	$59.92	17.9%

Utilities

Item	Lexington	National avg.	Difference
All Electricity	$217.10	$193.99	11.9%
Phone	$199.94	$192.25	4.0%

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.
Rayville, MO	229	74	26.2%
Camden, MO	200	76	24.0%
Henrietta, MO	254	79	21.2%
Norborne, MO	788	80	20.1%
Corder, MO	631	81	19.3%
Lexington, MO	4,540	86	13.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Southwold, ON	4,540	n/a
Creedmoor, NC	4,539	99	1.3%
Dardanelle, AR	4,541	79	21.2%
South Bound Brook, NJ	4,541	121	21.1%
Scott City, MO	4,538	83	17.3%
Lexington, MO	4,540	86	13.7%