REPORT: Springfield’s cost-of-living index higher than Missouri, but third lowest among state metros
SPRINGFIELD, Mo. (KY3) - A new report shows that the cost of living in the Springfield metropolitan area in 2021 was slightly higher than the average cost of living in the state.
The Missouri Economic Research and Information Center released its latest cost-of-living report earlier this month. The report compiled data from a national survey from the Council for Community & Economic Research.
Springfield had a cost-of-living index score of 90.4 compared to the state’s 89.8 score. However, Springfield did have the third-lowest cost-of-living index among six Missouri metropolitan areas measured, only trailing Joplin (82.6) and St. Louis (87.1).
Financial experts say if a place’s COL index is below 100, it’s cheaper than the national average. If it’s over 100, it’s more expensive than the national average.
Missouri’s latest cost-of-living report also measured costs of specific goods and services in six metropolitan areas. Springfield received the following categorical index scores:
- Grocery: 100.1
- Housing: 77.9
- Utilities: 88.1
- Transport: 93.8
- Health: 102.9
- Miscellaneous: 95.9
According to the report, Missouri had the seventh-lowest cost-of-loving index among U.S. states in 2021. The report did not include any comparison numbers for 2020.
To report a correction or typo, please email email@example.com
Copyright 2022 KY3. All rights reserved.