Missouri is ranked in the top 14 states in the country in terms of best economic opportunities. The rankings are based on affordability, professional equality, and overall social structure.
Apart from affordable living, the Show Me State offers excellent job opportunities. Missouri has the 21st-best job market in the country. Moreover, the cost of living in the state is 10% lower than the national average.
3 Reasons to Live in Missouri 🌳
- Flourishing Job Market: By 2030, the job market in Missouri is expected to rise by 7.8%. The state is home to big corporations like Walmart, Boeing, and Oracle.
- Affordable Housing: The housing cost in Missouri is 20% cheaper than the national average.
- Economic Stability: Missouri is ranked as the 12th best fiscally stable state in the country. Transportation, finance, and healthcare are the growing sectors.
7 Best Places to Live in Missouri
| # | City | Population | Median Home Price | Monthly Expenses | Unemployment Rate | Community Well-Being Score |
|---|---|---|---|---|---|---|
| 1. | St. Joseph | 71,602 | $144,989 | $7,331 | 2.4% | 76/100 |
| 2. | Florissant | 52,003 | $170,828 | $8,256 | 2.70% | 61/100 |
| 3. | Independence | 122,088 | $187,935 | $8,275 | 3.40% | 81/100 |
| 4. | Kennett | 10,288 | $95,089 | $6,891 | 4.90% | 58/100 |
| 5. | Joplin | 51,846 | $187,648 | $6,857 | 2.8% | 76/100 |
| 6. | Springfield | 169,724 | $221,663 | $7,582 | 2.3% | 67/100 |
| 7. | St. Louis | 293,310 | $166,816 | $8,256 | 2.70% | 81/100 |
1. St. Joseph
| Home Value | ⬆️ 3.0% |
| Median Income | $26,118 |
| Monthly Expenses | $7,331 |
| Unemployment Rate | 2.4% |
St. Joseph is a perfect option for those moving on a budget. The median home price in the city is $144,989, which is quite affordable. Moreover, the cost of living is 12% lower than the national average.
St. Joseph is ideal for young professionals, the job market in the city has grown by 13.22% in the last few years. The city is known for its top-rated education system. The Kansas City Public School is the largest school district in St. Joseph.
» Homes for Sale in St. Joseph, MO: Find your dream home in St. Joseph.
2. Florissant
| Home Value | ⬆️ 1.4% |
| Median Income | $32,447 |
| Monthly Expenses | $8,256 |
| Unemployment Rate | 2.70% |
The median home price in Florissant is $170,828. The city’s cost of living is 9% less than the national average. Also, Florissant has a booming job market, with an average annual salary of $44,127.
Florissant has excellent connectivity, the Lambert-St. Louis Airport (STL / KSTL) is just 5-08 miles from the city center. Moreover, the city has an A+ score in the best healthcare metrics.
» Homes for Sale in Florissant, MO: View the best properties in Florissant online.
3. Independence
| Home Value | ⬆️ 7.3% |
| Median Income | $29,733 |
| Monthly Expenses | $8,275 |
| Unemployment Rate | 3.40% |
The median home price in Independence is $187,935. The cost of living in the city is 11.6% lower than the state average. Moreover, Independence has a stable job market with an unemployment rate lower than the national average.
The job market in Independence is projected to increase by 22.30% in the next decade. Unilever, HCA Healthcare, Sonoco, and UMB Bank are the major employers. Moreover, the city scores an A in the healthcare parameters.
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4. Kennett
| Home Value | ⬇️ 5.1% |
| Median Income | $25,037 |
| Monthly Expenses | $6,891 |
| Unemployment Rate | 4.90% |
The median home price in Kennett is $95,089, 7% lower than last year. The cost of living in the city is 9% lower than the national average. Kennett is cheaper than Jefferson City when it comes to housing.
Kennett is ideal for job seekers, with over 84,000 employees. The city is home to big corporate giants like Pepsi, Rabin Tire, Cable ONE, and Pemiscot Memorial.
» Homes for Sale in Kennet, MO: Find the best properties in the Kennett neighborhood.
5. Joplin
| Home Value | ⬆️ 4.9% |
| Median Income | $24,740 |
| Monthly Expenses | $6,857 |
| Unemployment Rate | 2.8% |
The median home price in Joplin is $187,648. The average rent for a 1 bedroom apartment is $1000, 48% lower than the national average. Also, the city is home to the prestigious Missouri Southern State University, ideal for higher education.
The cost of housing in Joplin is 37% lower than the national average. Moreover, the city’s job market is projected to grow by 24.8% in the next ten years. Central Bank, Nexstar, CSSMO, MSW, Sidecars, and TAMKO are some major employers in the city.
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6. Springfield
| Home Value | ⬆️ 5.0% |
| Median Income | $23,679 |
| Monthly Expenses | $7,582 |
| Unemployment Rate | 2.3% |
The median home price in Springfield is $221,663. The cost of living in the city is 13% lower than the national average. Moreover, the city has a great educational setup. It’s home to the prestigious Drury University and Evangel University.
Springfield is home to some big corporations like Walmart- Sam’s Club, CoxHealth, and Great Southern Bank. The city’s unemployment rate is 2.3%, decreasing steadily.
» Homes for Sale in Springfield, MO: Find your dream home on Houzeo.
7. St. Louis
| Home Value | ⬆️ 6.1% |
| Median Income | $29,892 |
| Monthly Expenses | $8,256 |
| Unemployment Rate | 2.70% |
The median home price in St. Louis is $166,816. The city’s cost of living and housing are 6% and 25% lower than the national average, respectively.
St. Louis has a booming job market. Mound City has seen an annual job growth of 13.60% in the last decade, the city contributes to 39% of Missouri’s workforce. Over the years, the city’s economy has flourished in sectors like agriculture, transportation, and retail marketing.
» Homes for Sale in St. Louis, MO: View thousands of properties for sale in this beautiful city.
Best Places to Live in Missouri for Young Adults
Here are the best cities in Missouri for young adults:
- Kansas City: The average annual salary in Kansas City is $63,152. The job market is projected to increase by 32.5% in the next ten years, higher than the national projection.
- Benton: The average salary in the city is $43,715. Benton added 5,600 new jobs in December 2023.
Bottom Line
Missouri is one of the best places to live in the US due to its thriving job market and low cost of living. Other things that contribute are its excellent education system and vibrant city life.
The Cave State’s current population is 6.1 million and it’s projected to increase by 11% by 2030. Moreover, the state is among the top 12 best states in fiscal stability parameters.
In some cities, the median home price is around $95,089, whereas in cities like Springfield, it can go up to $221,663. So, do your research before you move to Missouri. To start your home search, browse properties online.
» Free Home Value Estimator: Get an estimate of property values with Missouri’s most accurate home value estimator.
Find Homes For Sale by Type and Style in MO
Research Methodology
We considered different regions to rank the best places in Missouri. Comparison criteria for the best cities to live in Missouri and the information sources are as follows:
- Population: Missouri Demographics Report [1]
- Median Home Price: Zillow[2] and Redfin[3]
- Median Household Income: United States Census Bureau[4]
- Monthly Expenses: Economic Policy Institute[5]
- Unemployment Rate: US Bureau of Labor Statistics[6]
- Community Well-Being Score: Community Well-Being Index by Sharecare[7]
Additionally, we have listed the good cities to live in Missouri for varying demographics. These include the best places to live for families, young adults, retirees, and working professionals.
Frequently Asked Questions
Which is the best place to live in Missouri?
St. Joseph is the best place to live in Missouri. The city's cost of living is low and has a flourishing job market.
Which is the best place to live in Missouri for retirees?
Florissant is the best place to live for retirees. The city is known for its excellent connectivity and great climatic conditions.
Which is the cheapest place to live in Missouri?
Kennett is the cheapest place to live in Missouri. The home prices and cost of living in the city are the lowest in the state.
