Cost of Living in Richmond, MO
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
90.7
100 = national avg
-9.3 vs national average
Living Wage (1 Adult)
$39,893
per year
Living Wage (Family of 4)
$94,294
per year
Cost Index by Category
Housing75.2
Food95.0
Transportation118.5
Healthcare96.0
Utilities92.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,197
per month
2 Bedroom
$1,358
per month
The overall cost of living index in Richmond is 90.7, which is 9.3% below the national average. Housing costs are below the national average at an index of 75.2. A single adult needs to earn approximately $39,893 per year to cover basic expenses.