F
20%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
80%
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 Chesterfield Missouri National
Cost of living12088100
Goods & Services9292100
Groceries9795100
Health care8990100
Housing18078100
Transportation9491100
Utilities10299100

An Overview of Cost of Living in Chesterfield, MO

Understanding the cost of living in Chesterfield 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 Chesterfield cost of living index is 120, which is 20% 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.

Housing costs significantly influence the Chesterfield cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 80.1%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Chesterfield Affordable?

Is Chesterfield an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Chesterfield is 102.5% higher than the national average, while the average monthly rent prices are 27.7% higher than average. The affordability of any location can also be influenced by median income levels. Chesterfield has a median household income of $120,394, which is 117.6% higher than the national average.

What Factors can Influence the Cost of Living in Chesterfield?

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Chesterfield, the transportation index is 6.5% lower than the national average.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Chesterfield, is 80.1% higher than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Chesterfield, the utilities index is 1.7% higher than the national average.

Where is the Data From?

The cost of living in Chesterfield, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Chesterfield is 36% higher than the Missouri average
  • The cost of living in Chesterfield is 20% higher than the national average
  • Chesterfield housing is 80% higher 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 Chesterfield

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Compare Chesterfield, MO Cost of Living

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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$135,113$11,259$3,152$4,054
      Renters$59,826$4,986$1,396$1,795
      A good way to judge both the affordability of the housing and the cost of living in Chesterfield 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. Chesterfield has a median income of about $135,113 for people who own homes. Based on that number, a maximum of $3,152 should be spent on expenses related to housing. Renters have a slightly different median income, which is $59,826. Based on this average, renters should spend no more than $1,396 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 Chesterfield National avg. Difference
      Haircut $21.19$24.2612.7%
      Beauty Salon $40.57$45.5611.0%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.11$1.2813.3%
      Movie $11.28$12.137.1%
      Bowling $16.92$18.006.0%

      Groceries

      Item Chesterfield National avg. Difference
      Ground Beef $6.40$5.849.7%
      Fried Chicken $1.36$1.5713.3%
      Milk $4.50$4.673.7%
      Potatoes $5.28$4.936.9%
      Pizza $10.84$12.0910.3%
      Beer $9.47$10.419.1%

      Health Care

      Item Chesterfield National avg. Difference
      Optometrist $125.72$125.680.0%
      Doctor $124.51$135.788.3%
      Dentist $100.78$113.2911.0%
      Ibuprofen $10.14$10.654.8%
      Lipitor $520.16$468.6011.0%

      Housing

      Item Chesterfield National avg. Difference
      Home Price $374,100.00$184,700.00102.5%
      Avg. Mortgage Payment $1,737.43$2,346.6926.0%
      Apartment Rent $1,212.00$949.0027.7%

      Transportation

      Item Chesterfield National avg. Difference
      Gasoline $3.20$3.467.6%
      Tire Balancing $50.00$59.9216.6%

      Utilities

      Item Chesterfield National avg. Difference
      All Electricity $133.84$193.9931.0%
      Phone $188.69$192.251.9%
      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.
      Champ, MO3945.9%
      Defiance, MO68945.9%
      Peaceful Village, MO926732.5%
      Kinloch, MO3377822.4%
      Pagedale, MO3,3018119.3%
      Chesterfield, MO47,60312019.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Woodstock, ON47,584n/a 
      Cornwall, ON47,736n/a 
      Roswell, NM47,7518514.6%
      East Providence, RI47,44211211.9%
      Ocoee, FL47,43311211.8%
      Chesterfield, MO47,60312019.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.