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Everyone wants a home that mixes affordability with comfort and Missouri does this very well. Families love the Show Me State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Missouri that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Missouri for 2022.
So where is the most expensive place to live in Missouri? That would be Sunset Hills.
the 2016-2020 American Community Survey for the 130 places in Missouri with more than 5,000 people.
What's the most expensive place to live in Missouri? Well, HomeSnacks crunched the numbers and discovered that Sunset Hills is the most expensive place to live in Missouri.
So hopefully Richmond (the cheapest place to live in Missouri) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Missouri and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Missouri For 2022
The median income in Sunset Hills comes in at $100,972 and the median home value is $416,300 for 2022.
The median income in Weldon Spring comes in at $117,297 and the median home value is $407,200 for 2022.
The median income in Branson comes in at $44,184 and the median home value is $168,200 for 2022.
The median income in University City comes in at $66,466 and the median home value is $260,600 for 2022.
The median income in Columbia comes in at $53,447 and the median home value is $208,300 for 2022.
The median income in St. Robert comes in at $56,389 and the median home value is $180,200 for 2022.
The median income in Valley Park comes in at $57,124 and the median home value is $179,200 for 2022.
The median income in Rolla comes in at $37,252 and the median home value is $143,700 for 2022.
The median income in Creve Coeur comes in at $95,699 and the median home value is $443,700 for 2022.
The median income in Pacific comes in at $45,021 and the median home value is $169,500 for 2022.
Methodology: How We Determined The Most Expensive Places To Live In The Show Me State For 2022
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2016-2020 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Missouri to figure out which is the most expensive.
What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 130 places in Missouri that have more than 5,000 people.
The place with the highest cost of living in Missouri according to the data is Sunset Hills. You can download the data here.
Summary: Taking A Chunk Out Of Your Paycheck In Missouri For 2022
Well there you have it, the places in Missouri that have the highest cost of living, with Sunset Hills ranking as the most expensive city in the Show Me State.
Here's a look at the most affordable cities in Missouri according to the data:
For more Missouri reading, check out:
- Best Places To Live In Missouri
- Cheapest Places To Live In Missouri
- Most Dangerous Cities in Missouri
- Best Places To Raise A Family In Missouri
- Safest Places In Missouri
- Worst Places To Live In Missouri
Detailed List Of The Most Expensive Cities In Missouri
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