What is the cost of living in Richmond, MO?
According to the most recent data on the cost of living, Richmond has an overall cost of living index of 84, which is 0.8x lower than the national index of 100.
Compared to Missouri, Richmond has a cost of living index that's 0.9x lower than Missouri's index of 90.
The standard of living in Richmond ranks as #9 most affordable out of the 144 places we measured in Missouri. By definition, that implies Richmond ranks as the #135 most expensive place in the Show Me State.
For more reading on life in Richmond, check out:
Richmond Cost Of Living Vs. Missouri
Six factors go into calculating the cost of living index in Richmond. Here is how it fares on each of the criteria:
The Services index in Richmond is 95.
The Groceries index in Richmond is 98.
The Health index in Richmond is 60.
The Housing index in Richmond is 95.
The Transportation index in Richmond is 96.
The Utilities index in Richmond is 95.
| Living Expense | Richmond | Missouri | National Average |
|---|---|---|---|
| Overall | 84 | 90 | 100 |
| Services | 95 | 97 | 100 |
| Groceries | 98 | 98 | 100 |
| Health | 60 | 76 | 100 |
| Housing | 95 | 95 | 100 |
| Transportation | 96 | 94 | 100 |
| Utilities | 95 | 96 | 100 |
Richmond Cost Of Living Compared To Missouri Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Missouri, check out:
Protect your home budget Compare home warranties in Richmond Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Richmond, MO Housing Cost Breakdown
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 2020-2024. The key points are:
The Median Home Value in Richmond is $233,566.
The Median Rent in Richmond is $722.
The Median Income in Richmond is $59,556.
The Home Value To Income in Richmond is 3.9x.
The Rent To Monthly Income in Richmond is 0.15x.
Richmond, MO Costs By Category
Detailed Richmond Services costs vs. Missouri
Detailed Richmond Groceries costs vs. Missouri
Detailed Richmond Health costs vs. Missouri
Detailed Richmond Transportation costs vs. Missouri
Richmond SnackAbility
Cost Of Living In Cities Around Richmond
The cost of living varies in the cities and towns around Richmond. Here's a quick look at the cost of living in the most populous nearby places:
Lee's Summit, MO has a cost of living index of 102, 1.2x Richmond.
Lenexa, KS has a cost of living index of 110, 1.3x Richmond.
Leawood, KS has a cost of living index of 134, 1.6x Richmond.
| City | Population | Cost Of Living | Vs. Richmond |
|---|---|---|---|
| Lee's Summit, MO | 103,656 | 102 | 1.2x |
| Lenexa, KS | 58,384 | 110 | 1.3x |
| Leawood, KS | 33,809 | 134 | 1.6x |
| Liberty, MO | 30,689 | 99 | 1.2x |
| Raymore, MO | 24,526 | 103 | 1.2x |
| Kearney, MO | 10,885 | 102 | 1.2x |
| Smithville, MO | 10,705 | 99 | 1.2x |
| Parkville, MO | 8,366 | 125 | 1.5x |
