Cost of living in Oak Grove research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Oak Grove is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Missouri, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Oak Grove is 91, with 100 being the average.
The cost of living index in Oak Grove is 0.9x lower than the national average.
Oak Grove ranks as the #84 cheapest in Missouri out of 143.
Oak Grove ranks as the #1,804 cheapest out of 6,412 in the US.
The median home value in Oak Grove is $155,700.
The median income in Oak Grove is $66,923.
According to the most recent data on the cost of living, Oak Grove has an overall cost of living index of 91, which is 0.9x lower than the national index of 100.
Compared to Missouri, Oak Grove has a cost of living index that's 1.0x higher than Missouri's index of 89.
The standard of living in Oak Grove ranks as #84 most affordable out of the 143 places we measured in Missouri. By definition, that implies Oak Grove ranks as the #59 most expensive place in the Show Me State.
For more reading on life in Oak Grove, check out:
Six factors go into calculating the cost of living index in Oak Grove. Here is how it fairs on each of the criteria:
The Services index in Oak Grove is 100.
The Groceries index in Oak Grove is 93.
The Health index in Oak Grove is 102.
The Housing index in Oak Grove is 72.
The Transportation index in Oak Grove is 94.
The Utilities index in Oak Grove is 98.
|Living Expense||Oak Grove||Missouri||National Average|
Housing swings affordability the most between places in Missouri, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Oak Grove is $155,700.
The Median Rent in Oak Grove is $909.
The Median Income in Oak Grove is $66,923.
The Home Value To Income in Oak Grove is 2.3x.
The Rent To Monthly Income in Oak Grove is 0.16x.
|Statistic||Oak Grove||Missouri||United States|
|Median Home Value||$155,700||$171,800||$244,900|
|Home Value To Income||2.3x||2.8x||3.5x|
|Rent To Monthly Income||0.16x||0.17x||0.2x|
The cost of living varies in the cities and towns around Oak Grove. Here's a quick look at the cost of living in the most populous nearby places:
Independence, MO has a cost of living index of 88, 1.0x Oak Grove.
Lee's Summit, MO has a cost of living index of 101, 1.1x Oak Grove.
Blue Springs, MO has a cost of living index of 96, 1.1x Oak Grove.