Cost of Living in Town and Country, MO

An Overview of Cost of Living in Town and Country, MO

Understanding the cost of living in Town and Country 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 Town and Country cost of living index is 163, which is 63% higher 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.

The cost of living in Town and Country is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Town and Country falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Town and Country cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 222.6% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Town and Country Affordable?

Wondering if Town and Country 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 Town and Country, for example, the median home price is 304.6% higher than what folks pay nationally, and monthly rent is 31.3% higher than the usual rates. Plus, income levels matter too, with Town and Country boasting a median household income of $202,974, which is 266.9% higher than the national average.

What Factors can Influence the Cost of Living in Town and Country?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Town and Country, the utilities index registers at 1.7% higher than the national average.

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 Town and Country, the transportation index is 6.5% lower than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Town and Country, the groceries index is 3.1% lower than the national average.

Where is the Data From?

The Town and Country 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.