Cost of Living in Richmond, MO
Population 5,979 · Missouri · Data vintage 2023
(100 = US avg)
Richmond is a smaller Missouri community of around 6000 residents, where median household incomes of $58,906 and housing costs ($136,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. An unemployment rate of 2.4% points to a labor market well on the tight side of the national distribution.
Geographically, Richmond sits roughly 25 miles northeast of Independence. Median home values run roughly 19% lower than Independence's $166,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Richmond
The median home value in Richmond is $135,500 — 56% below the national median of $305,000. Median rent runs $734/month, 44% lower than the national median of $1,314/month. The median household income of $58,906/year is 21% lower than the US median of $74,580. The local unemployment rate is 2.4%, 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, Richmond has a cost of living index of 49 versus the US average of 100, meaning it is 51% less expensive.
Richmond 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 Richmond, MO?
Richmond has a cost index of 49 (100 = national average). It is 51% below the national average.
What is average rent in Richmond, MO?
The median gross rent in Richmond is $734 per month based on 2023 Census data.
What is the average home price in Richmond?
The median home value in Richmond is $135,500 according to Zillow and Census data.
What is the median income in Richmond?
The median household income in Richmond is $58,906 per year (2023 ACS 5-year estimates).
What is the sales tax in Richmond, MO?
The combined state and local sales tax rate in Richmond is 8.4%. The Missouri state income tax top rate is 5.0%.
Is Richmond, MO affordable?
Yes, Richmond is generally considered affordable, with a cost of living index of 49 — about 51% below the US national average of 100.
Richmond at a Glance
- Population
- 5,979
- Median Income
- $58,906
- Home Value
- $135,500
- Median Rent
- $734/mo
- Unemployment
- 2.4%
- 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