A+
15%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
36%
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 Marshall Missouri National
Cost of living8588100
Goods & Services9592100
Groceries9695100
Health care9390100
Housing6478100
Transportation9091100
Utilities9399100

An Overview of Cost of Living in Marshall, MO

Understanding the cost of living in Marshall 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 Marshall cost of living index is 85, which is 15% lower 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.

Is Marshall Affordable?

Is Marshall 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 Marshall is 38.1% lower than the national average, while the average monthly rent prices are 29.7% lower than average. The affordability of any location can also be influenced by median income levels. Marshall has a median household income of $44,076, which is 20.3% lower than the national average.

What Factors can Influence the Cost of Living in Marshall?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Marshall, healthcare costs are 7.1% lower than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Marshall, the housing index is 35.6% lower than the national average.

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 Marshall, the general sales tax rate starts at 4.225%, and income tax rates begin at 1.5%.

Where is the Data From?

The Marshall cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Marshall is 4% lower than the Missouri average
  • The cost of living in Marshall is 15% lower than the national average
  • Marshall housing is 36% 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 Marshall

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Compare Marshall, 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$58,565$4,880$1,366$1,757
      Renters$29,332$2,444$684$880
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Marshall, 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 Marshall, homeowners have a median income of $58,565. Using that number, a maximum of $1,366 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $29,332, which means there is a maximum of $684 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 Marshall 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 Marshall 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 Marshall 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 Marshall National avg. Difference
      Home Price $114,400.00$184,700.0038.1%
      Avg. Mortgage Payment $2,216.67$2,346.695.5%
      Apartment Rent $667.00$949.0029.7%

      Transportation

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

      Utilities

      Item Marshall 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.
      Grand Pass, MO27945.8%
      Mount Leonard, MO227228.0%
      Blackwater, MO2097525.1%
      Malta Bend, MO1767623.5%
      Nelson, MO1627723.5%
      Marshall, MO12,9208515.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Davidson, NC12,92013231.8%
      Dawson Creek, BC12,921n/a 
      Elfers, FL12,9158811.7%
      New Carrollton, MD12,92512525.2%
      Finneytown, OH12,913955.1%
      Marshall, MO12,9208515.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.