Cost of Living in Kansas City, MO

An Overview of Cost of Living in Kansas City, MO

Understanding the cost of living in Kansas City 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 Kansas City cost of living index is 94, which is 6% 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 Kansas City are priced in a manner consistent with other areas. This means that residents of Kansas City 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 Kansas City?

The most insightful perspective on a city comes from its residents. We recently surveyed 33 locals to gauge their perception of the cost of living in Kansas City. The feedback revealed that 55% of respondents found the cost of living to be reasonable, with prices on the decline, while 45% regarded it as notably expensive with prices that continue to rise.

Is Kansas City Affordable?

Wondering if Kansas City is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Kansas City, for example, the median home price is 11.6% lower than what folks pay nationally, and monthly rent is 3.2% higher than the usual rates. Plus, income levels matter too, with Kansas City boasting a median household income of $56,179, which is 1.5% higher than the national average.

What Factors can Influence the Cost of Living in Kansas City?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

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 Kansas City, the transportation index is 11.1% lower than the national average.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Where is the Data From?

The Kansas City cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.