A+
16%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
40%
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 Neosho Missouri National
Cost of living8488100
Goods & Services9192100
Groceries9395100
Health care8990100
Housing6078100
Transportation9391100
Utilities10999100

An Overview of Cost of Living in Neosho, MO

Are you thinking about relocating, but curious about the potential cost of living in Neosho? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Neosho stands at 84, making it 16% 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.

Is Neosho Affordable?

Is Neosho 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 Neosho, for instance, where the median home price falls 45.7% lower than the national average, and monthly rent rates are 25.3% lower than usual. Additionally, median income levels contribute to the equation, with Neosho flaunting a median household income of $43,925, 20.6% lower than the national norm.

What Factors can Influence the Cost of Living in Neosho?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Neosho, the standard sales tax rate starts at 4.225%, and the income tax rates commence at 1.5%.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Neosho, the transportation index is 7.5% lower than the national average.

Where is the Data From?

The Neosho 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.

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Cost Of Living Quick Facts

  • The cost of living in Neosho is 5% lower than the Missouri average
  • The cost of living in Neosho is 16% lower than the national average
  • Neosho housing is 40% 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

Most Affordable Places to Live in and Around Neosho

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Compare Neosho, 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$60,275$5,023$1,406$1,808
      Renters$29,812$2,484$696$894
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Neosho, MO, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Neosho homeowners, is $60,275. This would allow for a maximum of $1,406 per month to be spent on housing costs. For renters, the median monthly income is $29,812 which would result in a maximum of $696 to be spent on rental costs.

      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 Neosho National avg. Difference
      Haircut $21.83$24.2610.0%
      Beauty Salon $40.00$45.5612.2%
      Toothpaste $3.77$3.701.9%
      Shampoo $1.04$1.2818.5%
      Movie $13.01$12.137.3%
      Bowling $10.00$18.0044.4%

      Groceries

      Item Neosho National avg. Difference
      Ground Beef $5.78$5.841.0%
      Fried Chicken $1.38$1.5712.5%
      Milk $4.48$4.674.1%
      Potatoes $4.78$4.933.1%
      Pizza $10.46$12.0913.4%
      Beer $9.40$10.419.7%

      Health Care

      Item Neosho National avg. Difference
      Optometrist $98.94$125.6821.3%
      Doctor $140.26$135.783.3%
      Dentist $93.33$113.2917.6%
      Ibuprofen $10.07$10.655.5%
      Lipitor $369.04$468.6021.2%

      Housing

      Item Neosho National avg. Difference
      Home Price $100,200.00$184,700.0045.7%
      Avg. Mortgage Payment $1,474.08$2,346.6937.2%
      Apartment Rent $709.00$949.0025.3%

      Transportation

      Item Neosho National avg. Difference
      Gasoline $3.11$3.4610.1%
      Tire Balancing $59.12$59.921.3%

      Utilities

      Item Neosho National avg. Difference
      All Electricity $218.93$193.9912.9%
      Phone $196.63$192.252.3%
      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.
      Stark City, MO133946.2%
      Cliff Village, MO14946.2%
      Ritchey, MO547326.8%
      Galena, KS2,8697822.4%
      Sarcoxie, MO1,5967822.0%
      Neosho, MO12,0368416.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Minden, LA12,0358812.1%
      North Merrick, NY12,03716766.5%
      Red Bank, NJ12,03914444.5%
      Oak Grove, SC12,040955.4%
      Greatwood, TX12,04012221.7%
      Neosho, MO12,0368416.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.