Living in Missouri: Affordable Cost of Living and High-Paying Jobs

Introduction

Missouri is considered one of the ideal places to live in the Midwest region of the United States. With its reasonable cost of living, diverse culture, and welcoming communities, it attracts residents from all over the globe. When it comes to the cost of living in Missouri for a single individual with no kids, it is relatively lower compared to other states.

Housing

The largest expense for most individuals is housing, and in Missouri, it is affordable to rent or buy a home. Depending on the city or town, a one-bedroom apartment can cost anywhere from $600 to $900 per month. The median home price is around $150,000, making it easier for individuals to buy property and become homeowners.

Utility Bills

Utility bills such as electricity, water, and gas also contribute to the cost of living. Missouri has a slightly higher electricity rate, but gas and water are relatively cheap. At an average cost of $100 to $150 per month, the utility bills are manageable for single individuals.

Food

Another factor added to the cost of living is food expenses. In Missouri, groceries are cheaper than the national average. A single individual can spend around $150 to $200 per month on groceries and an additional $12 to $18 eating out at restaurants, depending on the dining choices.

Transportation

Transportation expenses are manageable in Missouri. It has a reliable public transportation system, and for those who prefer driving, gas prices are lower than the national average, and car insurance is affordable. A single individual can spend around $100 to $200 per month on transportation expenses.

Why Missouri?

Cost-wise, Missouri is relatively affordable compared to other states. Its Midwestern charm, diverse culture, and excellent quality of life make it an ideal place to live. Missouri is also home to beautiful landscapes, bustling metropolitan areas, and myriad opportunities for outdoor activities, making it an attractive place for both young professionals and retirees.

Living in Missouri as a Single Person with No Kids

As a single individual with no kids, Missouri has plenty of activities and communities that can keep you engaged. The Show-Me State has numerous parks, art galleries, and museums that can be enjoyed in solitude or with new acquaintances. Depending on the city or town, socializing and forming friendships is easy, as the locals are known for their hospitality and friendliness.

High-Paying Jobs in Missouri

Based on these estimates, the median home cost in Missouri of $255,400 is about 7.8 times higher than the required annual income before taxes for a single working adult with no children. This may make it difficult for individuals to afford a home without assistance or additional sources of income. Additionally, the estimated housing expenses of $7,875 per year make up almost one-third of the total living expenses for this individual. Missouri is known for its diverse economy, with a significant contribution from industries such as manufacturing, healthcare, and finance. However, among the many different occupations available in the Show-Me state, some pay better than others.

At the top of the list are management occupations, including chief executives, general and operations managers, marketing managers, and sales managers. These highly-skilled professionals can expect to earn annual median salaries ranging from $107,473.60 to $196,934.40.

Another lucrative occupation worth considering is that of a physician. Missouri has a range of reputable healthcare facilities, and physicians can earn median annual salaries of $206,409.60. Other healthcare-related occupations that command high salaries include dentists, pharmacists, and physician assistants.

The finance industry is also well represented in Missouri, with financial managers earning a median annual salary of $141,280. This occupation requires a high level of attention to detail, analytical thinking, and leadership skills.

Another occupation tied to the finance industry is that of an actuary. These professionals analyze risk, calculate the likelihood of events, and design insurance policies. Actuaries in Missouri can expect to earn a median annual salary of $114,296.

While many high-paying jobs in Missouri require a college degree and specialized skills, there are also plenty of options for those without a formal education. The top-paying non-degree jobs in Missouri include transportation and storage managers, power plant operators, and inspectors.

Despite the high salaries offered in some occupations, it’s important to keep in mind the cost of living in Missouri. While it may be more affordable than other states, the average cost of living is still higher than the national average. Before making any career decisions, it’s important to take into account living expenses and potential job growth in the chosen field.

Conclusion

In conclusion, Missouri offers a range of high-paying occupations across various industries. However, it’s important to consider the cost of living and potential for job growth before committing to a career path. With careful research and planning, residents of Missouri can find a career that both aligns with their interests and offers a comfortable standard of living.

This content was created by www.priceofyou.com/cost-of-living. Our team derives unique insights by analyzing contemporary data from trusted sources such as the Bureau of Labor Statistics, Redfin, MIT Living Wage, among others. Should you choose to utilize this data, we kindly request that you provide a link back to our resource.