A
4%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
1%
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 Smithville Missouri National
Cost of living9688100
Goods & Services9292100
Groceries9795100
Health care8490100
Housing10178100
Transportation8991100
Utilities10999100

An Overview of Cost of Living in Smithville, MO

Are you thinking about relocating, but curious about the potential cost of living in Smithville? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Smithville stands at 96, making it 4% 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.

The cost of living in Smithville 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. Smithville 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 Smithville Affordable?

Is Smithville 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 Smithville, the median home price is 10.2% higher than what most folks pay across the country, and monthly rent prices are 21.4% lower than the usual rates. Income levels in Smithville come in at $83,400, which is 50.8% higher than the national average.

What Factors can Influence the Cost of Living in Smithville?

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

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Smithville comes in at 9% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Smithville, healthcare costs are 15.6% lower than the national average.

Where is the Data From?

The Smithville 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 Smithville is 9% higher than the Missouri average
  • The cost of living in Smithville is 4% lower than the national average
  • Smithville housing is 1% 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 Smithville

See all the best places to live around Smithville

Compare Smithville, 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$87,917$7,326$2,051$2,638
      Renters$49,621$4,135$1,158$1,489
      A good indicator of the general affordability of housing in Smithville, MO, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Smithville, the median monthly income is $87,917 for those who own their own homes. Under the standard rule, that income level would allow for $2,051 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $49,621, per the median income in the area. That would allow for renters to spend up to $1,158 on monthly rental expenses.

      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 Smithville 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 Smithville 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 Smithville 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 Smithville National avg. Difference
      Home Price $203,500.00$184,700.0010.2%
      Avg. Mortgage Payment $2,152.92$2,346.698.3%
      Apartment Rent $746.00$949.0021.4%

      Transportation

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

      Utilities

      Item Smithville 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.
      Ferrelview, MO5988019.6%
      Mosby, MO1098119.3%
      Missouri City, MO5068217.9%
      Edgerton, MO6488415.5%
      Claycomo, MO1,7868613.9%
      Smithville, MO10,269963.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mapleton, UT10,27013433.9%
      Arden Hills, MN10,27611615.9%
      Vienna, WV10,2618910.8%
      Troy, IL10,278963.9%
      Milton, FL10,259964.4%
      Smithville, MO10,269963.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.