Cost of Living in Creve Coeur, MO

An Overview of Cost of Living in Creve Coeur, MO

Knowing the cost of living in Creve Coeur allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Creve Coeur stands at 129, marking it 29% higher than the national average.

If you value affordability in your search for a new place to live, Creve Coeur may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Creve Coeur falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs make up a big chunk of the cost of living in Creve Coeur, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 109.4% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Creve Coeur Affordable?

Wondering if Creve Coeur 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 Creve Coeur, for example, the median home price is 140.2% higher than what folks pay nationally, and monthly rent is 37.4% higher than the usual rates. Plus, income levels matter too, with Creve Coeur boasting a median household income of $95,699, which is 73% higher than the national average.

What Factors can Influence the Cost of Living in Creve Coeur?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Creve Coeur, the general sales tax rate starts at 4.225%, and income tax rates begin at 1.5%.

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 Creve Coeur, the utilities index stands at 1.7% higher than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The Creve Coeur 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.