Willard, Missouri Cost Of Living

Buy Rent

B+

12%

Overall NAT. AVG.

4%

Goods & Services NAT. AVG.

30%

Housing NAT. AVG.

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Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Willard	Missouri	National
Cost of living	88	90	100
Goods & Services	96	94	100
Groceries	100	98	100
Health care	103	96	100
Housing	70	78	100
Transportation	94	94	100
Utilities	88	95	100

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Key findings

The cost of living in Willard is 2% lower than the Missouri average
The cost of living in Willard is 12% lower than the national average
Willard housing is 30% lower than the national average
Missouri general sales tax is 17% lower than the national average
Missouri state income tax is 39% 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	$59,427	$4,952	$1,387	$1,783
Renters	$32,292	$2,691	$753	$969

A good way to judge both the affordability of the housing and the cost of living in Willard is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Willard has a median income of about $59,427 for people who own homes. Based on that number, a maximum of $1,387 should be spent on expenses related to housing. Renters have a slightly different median income, which is $32,292. Based on this average, renters should spend no more than $753 on all rental costs if they want to maintain a non-impoverished standard of living.

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	1.5%	5.4%

Goods & Services

Item	Willard	National avg.	Difference
Haircut	$16.20	$20.27	20.1%
Beauty Salon	$36.90	$40.39	8.7%
Toothpaste	$2.64	$2.36	11.8%
Shampoo	$1.16	$1.08	7.5%
Movie	$9.99	$10.99	9.1%
Bowling	$17.43	$15.49	12.5%

Groceries

Item	Willard	National avg.	Difference
Ground Beef	$3.61	$4.30	16.1%
Fried Chicken	$1.48	$1.40	6.0%
Milk	$2.31	$2.20	4.9%
Potatoes	$2.66	$3.22	17.5%
Pizza	$9.56	$10.74	11.0%
Beer	$8.98	$9.60	6.4%

Health Care

Item	Willard	National avg.	Difference
Optometrist	$108.58	$109.73	1.0%
Doctor	$123.30	$118.34	4.2%
Dentist	$101.10	$100.94	0.2%
Ibuprofen	$10.03	$9.93	1.0%
Lipitor	$508.18	$469.53	8.2%

Housing

Item	Willard	National avg.	Difference
Home Price	$123,100.00	$184,700.00	33.4%
Avg. Mortgage Payment	$872.41	$1,229.62	29.1%
Apartment Rent	$737.00	$949.00	22.3%

Transportation

Item	Willard	National avg.	Difference
Gasoline	$2.54	$2.71	6.4%
Tire Balancing	$48.62	$51.86	6.2%

Utilities

Item	Willard	National avg.	Difference
All Electricity	$134.14	$170.84	21.5%
Phone	$188.83	$187.18	0.9%

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.
Chesapeake, MO	80	96	4.4%
Goodnight, MO	12	96	4.4%
Halltown, MO	187	81	19.3%
Dadeville, MO	247	81	18.9%
Morrisville, MO	341	81	18.7%
Willard, MO	5,447	88	12.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Big Flats, NY	5,446	97	2.8%
Litchfield Park, AZ	5,449	115	14.6%
Rockwood, TN	5,443	75	25.3%
Isanti, MN	5,453	97	2.9%
Old Bethpage, NY	5,439	175	75.5%
Willard, MO	5,447	88	12.1%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.