Affordable cost of living, natural beauty, and rising job opportunities have motivated 50% of people to move to Missouri. But it’s not that easy for everyone. With a median home price of 251K, Missouri can be expensive.
Should that stop you from moving to the Show Me State? Absolutely NOT!
Cities like Kennett and Jennings offer several budget-friendly options. While Kennett offers a cost of living 29.5% lower than the national average, the median home price in Jennings is $67K.
Whether you’re a retiree or a young professional looking for exciting opportunities, Missouri has affordable housing for everyone. Let’s explore some of the cheapest places to live in Missouri!
4 Reasons to live in Missouri 🌆
- Cheaper Houses: The median home sale price in Missouri is ~$282K. But you can get houses between $67K and $216K in cities like Jennings, Kennett, and Lebanon.
- Tax Benefits: Missouri provides a Property Tax Credit for individuals who own and occupy their homes. This credit aims to alleviate the property tax burden for eligible individuals.
- Affordable Utilities: Utilities in cities that are listed below is up to 6% lower than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than national average. You can save up to $471 per month in rent.
Cheapest Places to Live in Missouri in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Jennings | $32,462 | $67,350 | 12,824 | 4.5% | 29.6% |
| Kennett | $52,907 | $106,955 | 10,229 | 4.7% | 20.9% |
| Kirksville | $41,089 | $146,195 | 17,474 | 3.8% | 29.9% |
| Sikeston | $47,464 | $151,590 | 16,073 | 3.3% | 20.0% |
| St. Joseph | $54,515 | $160,706 | 70,656 | 2.9% | 18.1% |
| Hazelwood | $55,111 | $161,067 | 25,047 | 2.6% | 14.3% |
| Poplar Bluff | $37,448 | $165,021 | 16,232 | 4.3% | 27.0% |
| Lebanon | $45,634 | $216,706 | 15,429 | 4.7% | 20.38% |
| Neosho | $49,301 | $203,505 | 13,328 | 3.9% | 19.89% |
| Joplin | $50,996 | $194,990 | 53,095 | 4.4% | 17.3% |
10 Cheapest Places to Live in MO
The annual population growth of 3% since 2010 is reflective of people’s intention to move to Missouri. If you’re considering shifting to the Show-Me State, here are some cities that offer affordable living options:
1. Jennings
| 🟢 Cost of Living Compared to National Average | 6.9%⬇️ |
| 🏡 Median Home Price | $67,350 |
| 💲 Median Rent | $1,100 |
| 🌅 Known For | Benton Place |
Jennings is an affordable place to live in Missouri. Its median house rent ranges from $850 – $1,800. It also offers very affordable health which is 4.3% lower than the national average.
Jennings stands out as a budget-friendly city. The city is also recognized for its tourism attractions, with places like Benton Place and Calvary Cemetery, offering points of interest and landmarks. Additionally, city is home to major companies like ShotSpotter and Clarkson Eyecare Inc for job seekers.
» Homes for Sale in Jennings, MO: Find your dream home in this city.
2. Kennett
| 🟢 Cost of Living Compared to National Average | 29.5%⬇️ |
| 🏡 Median Home Price | $106,955 |
| 💲 Median Rent | $633 |
| 🏞️ Known For | Grace Kennett Foundation Hospital |
Kennett is one of the most budget-friendly rental destinations in Missouri with an average home rent ranging between $633-$700. It also offers affordable transportation which is 34.6% lower than the national average.
Kennett is a great place for people looking to buy a home. It is recognized for having the Grace Kennett Foundation Hospital. Additionally, the city today lays claim to the title of agricultural powerhouse. Also, if you are looking for jobs, Kennett provides ample of job opportunities. Cable ONE and CarterExpress are two top employers in the city.
» Homes for Sale in Kennett, MO: Find homes in cheap places to live in Missouri.
3. Kirksville
| 🟢 Cost of Living Compared to National Average | 24.9%⬇️ |
| 🏡 Median Home Price | $146,195 |
| 💲 Median Rent | $800 |
| 🏖️ Known For | Thousand Hills State Park |
With rental costs below the national average, Kirksville stands as one of the most affordable cities to live in Missouri. The house rent price is between $535 – $1,400.
Kirksville is considered a historic town and education hub. It is the home to institutions like the Kirksville College of Osteopathic Medicine. The city also provides ample of jobs in healthcare sectors. Major employers like Preferred Family Healthcare and Northeast Regional Medical Center contributes to city’s economy.
Get a Home Loan in Missouri🏡
Select Your Loan Type
-
New Home Purchase
-
Mortgage Refinance
-
Cash-out Refinance
4. Sikeston
| 🟢 Cost of Living Compared to National Average | 25.6%⬇️ |
| 🏡 Median Home Price | $151,590 |
| 💲 Median Rent | $859 |
| 🏖️ Known For | Sikeston Depot Museum & Gallery |
Sikeston offers budget-friendly living with a median rent that is $490 lower than the national median. Moreover, the utilities costs are 3.2% below the national average in the city.
Sikeston is recognized for its community’s historic homes. These historic homes are located adjacent to the downtown shopping district, contributing to the town’s charm and character. Beyond this, the city offers a wealth of opportunities for job seekers. Companies like Food Giant and Missouri Delta Medical Center broaden the employment sectors.
Try Missouri’s #1 Mortgage Calculator to see how much house you can afford. Get an instant amortization schedule and a detailed cost breakdown for free💲.
5. St. Joseph
| 🟢 Cost of Living Compared to National Average | 23.4%⬇️ |
| 🏡 Median Home Price | $160,706 |
| 💲 Median Rent | $850 |
| 🎨 Known For | Wyeth-Tootle Mansion |
Often nicknamed ‘Big Muddy,’ St. Joseph’s cost of living is 23.4% lower than the national average. The average grocery expenses are 5.5% lower than the national average.
St. Joseph’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in the US. Additionally, the city’s flourishing job market attracts professionals seeking new opportunities. Companies like Mosaic Life Care and Wal-Mart are known for their strong hiring presence.
» Homes for Sale in St. Joseph, MO: Browse through thousands of properties in major cities in Missouri.
6. Hazelwood
| 🟢 Cost of Living Compared to National Average | 6.9%⬇️ |
| 🏡 Median Home Price | $161,067 |
| 💲 Median Rent | $1,395 |
| 🏫 Known For | Harry S. Truman Park |
The house rent in Hazelwood is between $775 – $3,200. With an average household income of $55,111, you can comfortably live in this city.
Being near St. Louis offers additional opportunities for employment, entertainment, and cultural experiences. Hazelwood is also known for its excellent schools, such as Parkway Schools. This provides quality education and opportunities for academic growth.
» Homes for Sale in Hazelwood, MO: Find cheap homes in Missouri.
7. Poplar Bluff
| 🟢 Cost of Living Compared to National Average | 26.1%⬇️ |
| 🏡 Median Home Price | $165,021 |
| 💲 Median Rent | $850 |
| 🖼️ Known For | Black River Coliseum |
Poplar Bluff is one of the best places to live in Missouri. The monthly expenditure on food for an individual amounts to $563, making it one of the most budget-friendly options across the country.
Poplar Bluff is majorly known for its employment. It has top employers that offers ample of job opportunities such as Gregory Logistics and Sterling Bank in transport and finance sectors. Additionally, it provide entertainment, cultural experiences, and recreational opportunities for residents and visitors alike, contributing to the city’s appeal.
» Homes for Sale in Poplar Bluff, MO: Get yourself a home in this vibrant city.
8. Lebanon
| 🟢 Cost of Living Compared to National Average | 24.6%⬇️ |
| 🏡 Median Home Price | $216,706 |
| 💲 Median Rent | $1,200 |
| 🖼️ Known For | Parks and Playgrounds |
Lebanon one of the cheap places in Missouri median house rent is $1,200 and the median home value is $216,706. The overall cost of living here is 24.6% cheaper than the national average. This makes Lebanon one of the cheapest cities to live in Missouri.
Moreover, the city has many different types of jobs in many areas. Companies like Detroit Tool & Engineering and Durham Co are top employers in manufacturing and industrial sectors.
» Homes for Sale in Lebanon, MO: Get yourself cheap houses in Missouri.
9. Neosho
| 🟢 Cost of Living Compared to National Average | 20.5%⬇️ |
| 🏡 Median Home Price | $203,505 |
| 💲 Median Rent | $750 |
| 🖼️ Known For | Neosho Area Chamber of Commerce |
The overall cost of living in Neosho is 20.5% lower than the national average. It is majorly one of the affordable cities in Missouri with affordable housing costs at 55.8% lower than the national average. Also, healthcare costs are 7% lower than US average.
Additionally, the city has major employers like Crowder Industries Inc and Dallas Airmotive for job seekers. Apart from this, Neosho has sense of serenity. Nature is one of the reasons people love to live here with family and friends.
» Homes for Sale in Neosho, MO: Search homes in cheap areas in Missouri.
10. Joplin
| 🟢 Cost of Living Compared to National Average | 22.7%⬇️ |
| 🏡 Median Home Price | $194,990 |
| 💲 Median Rent | $1,100 |
| 🖼️ Known For | Lead and Zinc Mining Center |
In Joplin, people can find the cheapest real estate in Missouri. The median house rent is about $1,100 and the median home price is $194K. Joplin also has transportation costs 26.6% cheaper than the national average.
With an average household income of $50,996, residents can comfortably live in this college town. Apart from this, the city has TAMKO Building Products and Freeman Health System as top employers in manufacturing and healthcare sectors.
» Homes for Sale in Joplin, MO: Find homes in cheap cities of Missouri.
- 🏡 Do You Need Professional Assistance While Buying a Home?
Look no further! You can access a network of top real estate professionals through Houzeo Pros. They will cater to all your needs and requirements.
Bottom Line
The cost of living in Missouri is 8% higher than the national average. Nevertheless, it is also home to some of the most expensive cities in America. However, if you want to shift to Missouri, you can find affordable housing in cities like Jennings, Kennett, and Kirksville.
Cities like Lebanon and Neosho have a slightly expensive cost of living but provide better job opportunities. You must research the city’s home prices and living costs before relocating.
» Free Home Value Estimator: Get an estimate of property values with Missouri’s most accurate home value estimator.
Find Homes for Sale in MO Under Your Specific Budget
» Best Rental Websites in America: Can’t find your dream home within your budget? Explore thousands of listings on the nation’s top rental websites.
Find an Affordable House With Houzeo
With thousands of property listings, Houzeo.com is one of the biggest property listing sites in the US. Find condos, townhouses, co-ops, and other types of homes for sale in Missouri on Houzeo.
» Need More Clarity? Read these exclusive Houzeo reviews and learn why the platform is the best in America’s competitive housing market.
Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Missouri, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, Zillow, and Best Places.
FAQs
What is the cheapest place to live in Missouri?
The cheapest place to live in Missouri is Jennings.
» 10 Cheapest Places to Live in Missouri: Find out the other cheapest places to live in Missouri!
Is Missouri the cheapest place to live in?
No, it is not. The median home value is $251,455. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
Where is the best place to live in Missouri?
The best place to live in Missouri is St. Joseph, followed by Florissant, Independence, Kennett, Joplin, Springfield, and St. Louis
.webp)
