Cost of Living
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Greater St. Louis has a very affordable cost of living. The region's cost of living is well below the U.S. metro average and very low for a metro area of its size. The Cost Of Living Index (COLI) Calculator link allows for comparison of the cost of living in Greater St. Louis to almost any of the other metro areas in the country. Simply enter a base salary for any other metro and the calculator will determine how much you'd need to earn for a comparable standard of living in Greater St. Louis. It will also produce a detailed report with the dollar costs of groceries, utilities, housing, transportation, health care, and other miscellaneous expenses in any metro, Greater St. Louis, and the U.S. average.
Click Here to Compare the Cost of Living in Greater St. Louis to other U.S. metro areas.
Greater St. Louis has the lowest cost of living among the nation’s 20 largest metropolitan areas.
| Cost of Living - Top 20 Metropolitan Areas |
| Metro Area |
Index
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| St. Louis, MO-IL |
91.5
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| Tampa, FL |
93.0
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| Houston, TX |
94.8
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| Phoenix, AZ |
96.8
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| Atlanta, GA |
96.9
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| Detroit, MI |
97.0
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| Dallas, TX |
98.9
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| Minneapolis, MN |
108.7
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| Miami, FL |
109.0
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| Riverside City, CA |
113.0
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| Seattle, WA |
115.2
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| Baltimore, MD |
116.2
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| Chicago, IL |
117.1
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| Philadelphia, PA |
122.8
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| Los Angeles, CA |
130.8
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| San Diego, CA |
131.8
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| Boston, MA |
139.9
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| Washington, DC |
144.7
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| San Francisco, CA |
163.3
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| New York, NY (Manhattan) |
225.3
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Source: "ACCRA Cost of Living Index, 2012 Average Annual Data" Council for Community and Economic Research, January 2013.
Note: U.S. metro average = 100.
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Taxes
Moreover, personal taxes in Illinois and Missouri are very reasonable. Click here to see Greater St. Louis' taxes.
Housing
With inexpensive housing in both Illinois and Missouri, St. Louis has the most affordable housing of the top 20 largest metropolitan areas in the country, according to the National Association of Home Builders in November 2012. The following table compares the percentage of homes which are affordable for median incomes; meaning, for example, that in the St. Louis, MO-IL MSA, 85.5% of homes sold during that period were affordable to families earning the area’s median family income.
| Most Affordable Housing - Top 20 Metropolitan Areas |
| Metro Area |
Share of Homes
Affordable for Median Income
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| St. Louis, MO-IL |
85.5%
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Detroit, MI
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84.8%
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| Minneapolis, MN-WI |
82.7%
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| Phoenix, AZ |
80.9%
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| Tampa, FL |
80.6%
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| Atlanta, GA |
79.8%
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| Washington, DC |
74.5%
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| Baltimore, MD |
74.3%
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| Chicago, IL |
74.3%
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| Riverside, CA |
74.2%
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| Dallas, TX |
71.7%
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| Philadelphia, PA |
71.3%
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| Houston, TX |
70.5%
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| Seattle, WA |
67.8%
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| Miami, FL |
64.0%
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| Boston, MA |
62.5%
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| San Diego, CA |
54.6%
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| Los Angeles, CA |
44.1%
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| San Francisco, CA |
31.4%
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| New York, NY-NJ |
28.5%
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Source: "NAHB/Wells Fargo Housing Opportunity Index" 3rd Quarter 2012.
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St. Louis has the fourth lowest housing cost of the top 20 largest metropolitan markets for middle management style housing, according to the annual "Home Price Comparison Index" by Coldwell Banker. The 2011 Coldwell Banker U.S. average is $293,000 compared to St. Louis average price of $192,306.
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2011 Middle Management Home Prices
Top 20 Metropolitan Areas
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| Metro Area |
Median Home Value
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| Detroit, MI |
$73,363
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| Phoenix, AZ |
$183,125
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| Houston, TX |
$187,211
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| St. Louis, MO-IL |
$192,306
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| Minneapolis, MN |
$221,236
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| Dallas, TX |
$233,402
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| Tampa, FL |
$234,989
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| Riverside, CA |
$236,474
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| Chicago, IL |
$250,631
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| Atlanta, GA |
$255,448
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| Baltimore, MD |
$264,557
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| Miami, FL |
$265,895
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| United States Average |
$293,000
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| Philadelphia, PA |
$304,141
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| San Diego, CA |
$522,247
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| Seattle, WA |
$599,367
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| Washington, D.C. |
$630,645
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| New York, NY |
$672,449
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| Boston, MA |
$695,358
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| Los Angeles, CA |
$795,632
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| San Francisco, CA |
$807,691
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Source: "Home Price Comparison Index" Coldwell Banker, March 2011.
Note: Homes are based upon a single-family dwelling model with 4 bedrooms, 2 baths.
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And the region's lower cost of housing is even more pronounced in Illinois, where home buyers can get even more for their money. According to the Leadership Council of Southwestern Illinois, the area has seen an high levels of new home construction and sales in recent years, with many residents able to build their “dream homes” on affordable acreage in Madison and St. Clair counties.
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