| Index | Springfield | Missouri | National |
| Cost of living | 88 | 90 | 100 |
| Groceries | 95 | 96 | 100 |
| Health care | 93 | 97 | 100 |
| Housing | 70 | 77 | 100 |
| Transportation | 96 | 96 | 100 |
| Utilities | 95 | 95 | 100 |
| Lifestyle & Entertainment | 94 | 95 | 100 |
| Household Items | 95 | 97 | 100 |
| Education & Childcare | 100 | 95 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Springfield? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Springfield stands at 88, making it 12% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Nobody knows their city better than the people who actually live there. So, we asked 24 local residents how they would rate the cost of living in Springfield and this is how they responded. 50% of people said that the cost of living was affordable, with prices decreasing, while 50% of people said that the cost of living was very expensive and prices continue to rise.
Is Springfield 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 Springfield, for instance, where the median home price falls 33.8% lower than the national average, and monthly rent rates are 21.1% lower than usual. Additionally, median income levels contribute to the equation, with Springfield flaunting a median household income of $56,757, 30.2% lower than the national norm.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Springfield, the housing index stands at 30% lower than the national average.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Springfield, the groceries index registers 4.9% lower than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Springfield, healthcare costs are 6.9% lower than the national average.
The Springfield cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $80,586 | $6,716 | $1,880 | $2,418 |
| Renters | $42,385 | $3,532 | $989 | $1,272 |
| State | General Sales Tax | With Max Surtax |
| Missouri | 4.225% | 10.85% |
| State | Income Tax (Low) | Income Tax (High) |
| Missouri | 2% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Walnut Grove, MO | 541 | 84 | 16.4% |
| Billings, MO | 943 | 87 | 13.0% |
| Sparta, MO | 2,220 | 87 | 12.7% |
| Clever, MO | 2,839 | 88 | 11.5% |
| Strafford, MO | 2,487 | 89 | 11.0% |
| Springfield, MO | 173,433 | 88 | 12.2% |
| City | Population | Cost of Living Index | National Avg. |
| Cary, NC | 173,346 | 125 | 24.6% |
| Corona, CA | 173,134 | 154 | 54.0% |
| Fort Collins, CO | 172,375 | 134 | 33.5% |
| Oshawa, ON | 176,009 | n/a | |
| Sherbrooke, QC | 170,686 | n/a | |
| Springfield, MO | 173,433 | 88 | 12.2% |
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