Cost of Living in Nevada, MO
Population 7,998 · Missouri · Data vintage 2023
(100 = US avg)
Nevada's median household income of $45,799 is a meaningful share below the national figure, which shapes most of the downstream economic indicators — from housing affordability to the share of residents living below the poverty line (24% here).
Nevada is about 75 miles northwest of Springfield, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 39% lower than Springfield's $165,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Nevada
The median home value in Nevada is $100,600 — 67% below the national median of $305,000. Median rent runs $716/month, 46% lower than the national median of $1,314/month. The median household income of $45,799/year is 39% lower than the US median of $74,580. The local unemployment rate is 4.7%, below the national average of 4.8%. Missouri's top state income tax rate is 5.0% and the combined sales tax is 8.4%. Overall, Nevada has a cost of living index of 42 versus the US average of 100, meaning it is 58% less expensive.
Nevada has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Nevada, MO?
Nevada has a cost index of 42 (100 = national average). It is 58% below the national average.
What is average rent in Nevada, MO?
The median gross rent in Nevada is $716 per month based on 2023 Census data.
What is the average home price in Nevada?
The median home value in Nevada is $100,600 according to Zillow and Census data.
What is the median income in Nevada?
The median household income in Nevada is $45,799 per year (2023 ACS 5-year estimates).
What is the sales tax in Nevada, MO?
The combined state and local sales tax rate in Nevada is 8.4%. The Missouri state income tax top rate is 5.0%.
Is Nevada, MO affordable?
Yes, Nevada is generally considered affordable, with a cost of living index of 42 — about 58% below the US national average of 100.
Nevada at a Glance
- Population
- 7,998
- Median Income
- $45,799
- Home Value
- $100,600
- Median Rent
- $716/mo
- Unemployment
- 4.7%
- Sales Tax
- 8.4%
Nearby Cities
Explore county-level cost of living data
Missouri Rankings
Similar Cost Cities
Cities in other states with comparable housing costs