Cost of Living in Poplar Bluff, MO

An Overview of Cost of Living in Poplar Bluff, MO

The cost of living in Poplar Bluff 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 Poplar Bluff is 82, which is 18% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Poplar Bluff stands out by reporting housing costs that are 40% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.

What Do Locals Say About the Cost of Living in Poplar Bluff?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 8 locals to understand their opinions on the cost of living in Poplar Bluff. The results indicated that 25% found it reasonably priced with decreasing prices of goods and services, while 75% viewed it as quite expensive, with increasing prices.

Is Poplar Bluff Affordable?

Is Poplar Bluff an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Poplar Bluff, the median home price is 43.5% lower than what most folks pay across the country, and monthly rent prices are 31.9% lower than the usual rates. Income levels in Poplar Bluff come in at $35,603, which is 35.6% lower than the national average.

What Factors can Influence the Cost of Living in Poplar Bluff?

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 Poplar Bluff, the housing index is 40% lower than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Poplar Bluff, the groceries index is 5.2% lower than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Poplar Bluff, the transportation index is 11.6% lower than the national average.

Where is the Data From?

The cost of living in Poplar Bluff, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.