Tags: Retirement | retirement | Missouri | cost of living

Retirement Cost of Living in Missouri

By    |   Monday, 08 Jun 2015 11:13 AM

The Show Me State really is middle America – according to the Census Bureau, there's a spot on the map from which, if you looked in any direction, you'd be looking toward an equal number of people. Since 1980, that spot's been moving westward through Missouri. If you have retirement plans that have you considering relocating somewhere in Missouri, here is a look as some of the cost-of-living facts facing retirees in the state.

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Retirees have been moving toward that dot, too, thanks to a cost of living well below national average, depending on who you ask. Sperling's Best Places says 8.9 percent lower and TopRetirements.com says the state's cost-of-living index is 88, with the national average being 100.

Sperling's Best Places breaks Missouri's 2014 cost of living down farther: Grocery costs are 97 percent of  the national average, health care costs 96 percent, housing costs (owning or rental) 78 percent, and transportation 97 percent. Utilities, though, are 2 percent more expensive than the national average.

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The median home price in the Show Me State was $136,000 in 2012, according to Zillow and $132,100 in 2014, according to Sperling's Best Places. Prices went slightly up in some urban areas (Kansas City), down in others (St. Louis) as opposed to rural areas, but they are  still below the national average, TopRetirements reported.

Bankrate ranks Missouri as the 42nd-best state in the U.S. in which to retire, 16th for its cost of living, and 18th in tax rate. Seniors and some disabled people can claim credit toward real estate taxes or rent they've paid in a given year – up to $750 for renters and $1,100 for owners of the homes in which they lived,

In addition, MissouriSeniors.com lists a multitude of sources of financial assistance for senior citizens in the state, from prescription bargains, to information on available benefits, to financial counseling.

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The Show Me State really is middle America - according to the Census Bureau, there's a spot on the map from which, if you looked in any direction, you'd be looking toward an equal number of people. Since 1980, that spot's been moving westward through Missouri.
retirement, Missouri, cost of living
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2015-13-08
Monday, 08 Jun 2015 11:13 AM
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