Cost Of Living in Novelty, MO

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	Novelty	Missouri	National
Cost of living	71	88	100
Goods & Services	95	92	100
Groceries	96	95	100
Health care	93	90	100
Housing	16	78	100
Transportation	90	91	100
Utilities	93	99	100

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Cost Of Living Quick Facts

The cost of living in Novelty is 20% lower than the Missouri average
The cost of living in Novelty is 29% lower than the national average
Novelty housing is 84% 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

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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	$42,813	$3,568	$999	$1,285
Renters	$0	$0	$0	$0

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	Novelty	National avg.	Difference
Haircut	$24.14	$24.26	0.5%
Beauty Salon	$44.94	$45.56	1.4%
Toothpaste	$3.76	$3.70	1.6%
Shampoo	$1.05	$1.28	17.7%
Movie	$11.64	$12.13	4.0%
Bowling	$16.11	$18.00	10.5%

Groceries

Item	Novelty	National avg.	Difference
Ground Beef	$6.28	$5.84	7.5%
Fried Chicken	$1.40	$1.57	11.0%
Milk	$4.66	$4.67	0.3%
Potatoes	$4.70	$4.93	4.7%
Pizza	$10.74	$12.09	11.1%
Beer	$9.14	$10.41	12.2%

Health Care

Item	Novelty	National avg.	Difference
Optometrist	$135.25	$125.68	7.6%
Doctor	$141.87	$135.78	4.5%
Dentist	$99.33	$113.29	12.3%
Ibuprofen	$10.20	$10.65	4.2%
Lipitor	$369.77	$468.60	21.1%

Housing

Item	Novelty	National avg.	Difference
Home Price	$29,800.00	$184,700.00	83.9%
Avg. Mortgage Payment	$2,216.67	$2,346.69	5.5%
Apartment Rent	$0.00	$949.00	100.0%

Transportation

Item	Novelty	National avg.	Difference
Gasoline	$3.24	$3.46	6.3%
Tire Balancing	$47.66	$59.92	20.5%

Utilities

Item	Novelty	National avg.	Difference
All Electricity	$168.45	$193.99	13.2%
Phone	$197.21	$192.25	2.6%

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.
Newark, MO	67	99	0.9%
Plevna, MO	6	94	6.2%
Hurdland, MO	138	73	26.7%
Gibbs, MO	67	71	29.2%
Knox City, MO	177	76	23.6%
Novelty, MO	154	71	29.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Alicia, AR	154	72	27.6%
Crystal Beach, AZ	154	72	27.6%
Verdi, CA	154	156	55.5%
Amherst, CO	154	99	1.3%
Charleston Park, FL	154	103	2.8%
Novelty, MO	154	71	29.5%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Novelty, MO