Richmond, MO, offers a cost of living that is notably lower than the nationwide average. The overall cost of living index for Richmond stands at 87, which is 13% lower than the national benchmark of 100. This reduction in cost is particularly evident in housing, where the index is 76, reflecting a 24% decrease compared to the average.
In other areas, Richmond's cost of living remains close to the national average. For instance, groceries cost 92, utilities are at 97, and healthcare is priced at 90. These categories show minimal variance, suggesting that Richmond provides a balanced living experience with lower housing costs and competitive prices in other essential areas.
Richmond, MO, offers a cost of living that is notably lower than the nationwide average, which is set at 100. Housing costs in Richmond stand at 76, which means residents pay 24% less than the average American. This significant reduction can be a major draw for those looking to purchase a home or rent a property in the area.
In addition to housing, other living expenses in Richmond also compare favorably to the national average. For instance, groceries cost 92, which is 8% less than the average. Utilities are priced at 97, just 3% above the national average. Transportation costs are at 85, meaning residents spend 15% less on getting around. Healthcare costs are slightly below the average, at 90, which is a 10% savings. Miscellaneous expenses are at 88, which is 12% less than the national average. Overall, Richmond provides a cost-effective living experience for many of its residents.
