A+
14%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
33%
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 Fulton Missouri National
Cost of living8688100
Goods & Services9592100
Groceries9695100
Health care9390100
Housing6778100
Transportation9091100
Utilities9399100

An Overview of Cost of Living in Fulton, MO

Are you thinking about relocating, but curious about the potential cost of living in Fulton? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Fulton stands at 86, making it 14% 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 Fulton Affordable?

Is Fulton 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 Fulton is 33.9% lower than the national average, while the average monthly rent prices are 30.5% lower than average. The affordability of any location can also be influenced by median income levels. Fulton has a median household income of $47,356, which is 14.4% lower than the national average.

What Factors can Influence the Cost of Living in Fulton?

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Fulton, healthcare costs are 7.1% lower than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Fulton, the housing index comes in at 32.9% lower than the national average.

Where is the Data From?

The cost of living data in Fulton 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 Fulton is 3% lower than the Missouri average
  • The cost of living in Fulton is 14% lower than the national average
  • Fulton housing is 33% 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 Fulton

See all the best places to live around Fulton

Compare Fulton, 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$73,385$6,115$1,712$2,202
      Renters$31,662$2,639$739$950
      The affordability of the housing market in Fulton, MO as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Fulton homeowners, the median income is $73,385. This indicates that a monthly maximum of $1,712 should be spent by homeowners on all housing related costs. Renters have a median income of $31,662. This indicates that renters would have a maximum of $739 for their rent related monthly 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 Fulton National avg. Difference
      Haircut $24.14$24.260.5%
      Beauty Salon $44.94$45.561.4%
      Toothpaste $3.76$3.701.6%
      Shampoo $1.05$1.2817.7%
      Movie $11.64$12.134.0%
      Bowling $16.11$18.0010.5%

      Groceries

      Item Fulton National avg. Difference
      Ground Beef $6.28$5.847.5%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.66$4.670.3%
      Potatoes $4.70$4.934.7%
      Pizza $10.74$12.0911.1%
      Beer $9.14$10.4112.2%

      Health Care

      Item Fulton National avg. Difference
      Optometrist $135.25$125.687.6%
      Doctor $141.87$135.784.5%
      Dentist $99.33$113.2912.3%
      Ibuprofen $10.20$10.654.2%
      Lipitor $369.77$468.6021.1%

      Housing

      Item Fulton National avg. Difference
      Home Price $122,100.00$184,700.0033.9%
      Avg. Mortgage Payment $2,216.67$2,346.695.5%
      Apartment Rent $660.00$949.0030.5%

      Transportation

      Item Fulton National avg. Difference
      Gasoline $3.24$3.466.3%
      Tire Balancing $47.66$59.9220.5%

      Utilities

      Item Fulton National avg. Difference
      All Electricity $168.45$193.9913.2%
      Phone $197.21$192.252.6%
      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.
      Chamois, MO4317624.1%
      Mokane, MO3908218.5%
      Auxvasse, MO1,2298217.9%
      New Bloomfield, MO7558514.8%
      Holts Summit, MO4,7908910.8%
      Fulton, MO12,6968614.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Smithfield, NC12,697918.5%
      Crowley, LA12,6898910.9%
      St. Ann, MO12,6898416.3%
      Echelon, NJ12,68711313.1%
      Endicott, NY12,6848613.7%
      Fulton, MO12,6968614.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.