Lebanon, MO, has a cost of living index that is notably lower than the nationwide average. The overall cost of living index for Lebanon stands at 90, which is 10% below the national benchmark of 100. This lower index reflects that residents in Lebanon can expect to spend less on various living expenses compared to the average American.
Specifically, Lebanon's housing index is 81, which is 19% below the national average. Groceries, utilities, and transportation also show a slight reduction, with indices of 92, 98, and 95, respectively. Healthcare and miscellaneous costs are slightly lower, at 85 and 90, further contributing to the overall cost of living advantage.
The cost of living in Lebanon, Missouri, presents a mix of affordability and moderate expenses when compared to the nationwide average. Housing costs in Lebanon stand at 81, which is 19% lower than the national average of 100. This makes housing a notably cheaper option for individuals and families relocating to Lebanon. Lower housing costs can significantly reduce overall living expenses, making it easier for residents to manage their budgets.
Other expenses in Lebanon also reflect a generally favorable cost of living. Groceries cost 92% of the national average, which is slightly above the average but still manageable. Utilities are priced at 98%, indicating a minor increase but still close to the national average. Transportation costs are at 95%, which is just 5% above the average, making commuting relatively affordable. Healthcare costs are at 85%, which is 15% below the average, offering a significant saving for residents. Miscellaneous expenses are at 90%, which is 10% below the average, providing additional savings in everyday spending. Overall, Lebanon offers a cost of living that is competitive and often more affordable than the national average in several key areas.
