A+
16%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
28%
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 Bolivar Missouri National
Cost of living8488100
Goods & Services8992100
Groceries9495100
Health care9590100
Housing7278100
Transportation9091100
Utilities8099100

An Overview of Cost of Living in Bolivar, MO

The cost of living in Bolivar affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Bolivar is 84, which is 16% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday basics like clothes, personal care items and entertainment factor into your overall living costs. But here's the good news: in Bolivar, these things are 10.6% more affordable than the national average. So, you can get what you need and have fun without emptying your wallet. With these savings, you can stash more money in your savings or put it towards other financial goals, ultimately improving your financial health.

Is Bolivar Affordable?

Is Bolivar an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Bolivar, the median home price is 28.8% lower than what most folks pay across the country, and monthly rent prices are 25.4% lower than the usual rates. Income levels in Bolivar come in at $37,500, which is 32.2% lower than the national average.

What Factors can Influence the Cost of Living in Bolivar?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Bolivar, the groceries index is 5.9% lower than the national average.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Bolivar, the utilities index stands at 19.7% lower than the national average.

Where is the Data From?

The cost of living data in Bolivar displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Bolivar is 5% lower than the Missouri average
  • The cost of living in Bolivar is 16% lower than the national average
  • Bolivar housing is 28% 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 Bolivar

See all the best places to live around Bolivar

Compare Bolivar, 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$50,909$4,242$1,188$1,527
      Renters$25,989$2,166$606$780
      A good way to judge both the affordability of the housing and the cost of living in Bolivar 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. Bolivar has a median income of about $50,909 for people who own homes. Based on that number, a maximum of $1,188 should be spent on expenses related to housing. Renters have a slightly different median income, which is $25,989. Based on this average, renters should spend no more than $606 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 2% 4.95%

      Goods & Services

      Item Bolivar National avg. Difference
      Haircut $20.90$24.2613.9%
      Beauty Salon $43.40$45.564.7%
      Toothpaste $3.69$3.700.2%
      Shampoo $1.43$1.2811.9%
      Movie $11.45$12.135.7%
      Bowling $20.06$18.0011.5%

      Groceries

      Item Bolivar National avg. Difference
      Ground Beef $5.93$5.841.5%
      Fried Chicken $1.37$1.5712.7%
      Milk $4.65$4.670.5%
      Potatoes $4.78$4.933.1%
      Pizza $10.93$12.099.6%
      Beer $9.53$10.418.5%

      Health Care

      Item Bolivar National avg. Difference
      Optometrist $87.72$125.6830.2%
      Doctor $89.65$135.7834.0%
      Dentist $114.22$113.290.8%
      Ibuprofen $10.47$10.651.7%
      Lipitor $495.14$468.605.7%

      Housing

      Item Bolivar National avg. Difference
      Home Price $131,500.00$184,700.0028.8%
      Avg. Mortgage Payment $1,859.59$2,346.6920.8%
      Apartment Rent $708.00$949.0025.4%

      Transportation

      Item Bolivar National avg. Difference
      Gasoline $3.49$3.460.8%
      Tire Balancing $45.32$59.9224.4%

      Utilities

      Item Bolivar National avg. Difference
      All Electricity $193.72$193.990.1%
      Phone $200.43$192.254.3%
      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.
      Goodnight, MO128910.7%
      Flemington, MO716832.0%
      Humansville, MO1,3917425.6%
      Fair Play, MO5327623.6%
      Halfway, MO1407723.2%
      Bolivar, MO11,0008415.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Satellite Beach, FL11,00012020.3%
      Weddington, NC11,00014747.0%
      Saltspring Island, BC11,001n/a 
      Pompton Lakes, NJ10,99812120.7%
      Progress, PA10,9971000.2%
      Bolivar, MO11,0008415.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.