A+
1%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
10%
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 Kearney Missouri National
Cost of living9988100
Goods & Services9292100
Groceries9795100
Health care8490100
Housing11078100
Transportation8991100
Utilities10999100

An Overview of Cost of Living in Kearney, MO

The cost of living in Kearney 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 Kearney is 99, which is 1% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Kearney aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Kearney residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Kearney Affordable?

Is Kearney affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Kearney, the median home price is 11.7% higher than the national average and monthly rent prices are 4.5% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Kearney boasting a median household income of $85,499, 54.5% higher than the national average.

What Factors can Influence the Cost of Living in Kearney?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

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 Kearney, the groceries index is 3.5% lower than the national average.

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 Kearney, the housing index comes in at 9.5% higher than the national average.

Where is the Data From?

The Kearney 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Kearney is 12% higher than the Missouri average
  • The cost of living in Kearney is 1% lower than the national average
  • Kearney housing is 10% 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 Kearney

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Compare Kearney, 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$94,361$7,863$2,202$2,831
      Renters$39,451$3,288$920$1,184
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Kearney, MO, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Kearney, homeowners have a median income of $94,361. Using that number, a maximum of $2,202 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $39,451, which means there is a maximum of $920 to be spent on the costs of renting a home or apartment.

      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 Kearney National avg. Difference
      Haircut $20.30$24.2616.3%
      Beauty Salon $33.43$45.5626.6%
      Toothpaste $3.70$3.700.2%
      Shampoo $1.42$1.2810.9%
      Movie $12.03$12.130.9%
      Bowling $15.57$18.0013.5%

      Groceries

      Item Kearney National avg. Difference
      Ground Beef $6.31$5.848.0%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.62$4.671.0%
      Potatoes $5.24$4.936.2%
      Pizza $11.48$12.095.0%
      Beer $9.39$10.419.8%

      Health Care

      Item Kearney National avg. Difference
      Optometrist $96.50$125.6823.2%
      Doctor $90.20$135.7833.6%
      Dentist $100.33$113.2911.4%
      Ibuprofen $10.67$10.650.2%
      Lipitor $474.53$468.601.3%

      Housing

      Item Kearney National avg. Difference
      Home Price $206,300.00$184,700.0011.7%
      Avg. Mortgage Payment $2,152.92$2,346.698.3%
      Apartment Rent $992.00$949.004.5%

      Transportation

      Item Kearney National avg. Difference
      Gasoline $3.17$3.468.3%
      Tire Balancing $49.17$59.9217.9%

      Utilities

      Item Kearney National avg. Difference
      All Electricity $217.10$193.9911.9%
      Phone $199.94$192.254.0%
      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.
      River Bend, MO9945.8%
      Excelsior Estates, MO3047723.0%
      Mosby, MO1098119.3%
      Homestead, MO1608218.3%
      Randolph, MO288218.3%
      Kearney, MO10,460991.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pleasant View, UT10,46012019.9%
      Bois-des-Filion, QC10,460n/a 
      Quesnel, BC10,461n/a 
      Jessup, MD10,45812828.4%
      Cadillac, MI10,4628316.8%
      Kearney, MO10,460991.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.