Cost of Living in Monroe County, Missouri
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Monroe County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monroe County ranks #717 of 3,144 counties for affordability (top 23%)
Data Story
About Cost of Living in Monroe County, Missouri
Monroe's rent burden above average
Monroe County renters spend 16.6% of their income on rent, above the comfortable 12-15% national range. This squeezed budget means less flexibility for unexpected expenses or savings.
Worse than Missouri average
Monroe's rent-to-income ratio of 16.6% exceeds Missouri's state average of 15.6%, placing it in the less affordable tier of Missouri counties. The 1-percentage-point gap signals tighter housing affordability than the state norm.
Mid-range rents, low incomes
Monroe's median rent of $667/month is moderate compared to neighbors like Mississippi ($782) and Miller ($724), but the county's median income of $48,299 is among the region's lowest. This income-to-cost mismatch drives the affordability challenge.
Monroe's income-cost imbalance
Monroe County residents earn $48,299 annually, paying $667/month in rent or $557/month for mortgages on homes valued at $147,400. For renters, housing devours roughly one-sixth of gross income, limiting resources for other needs.
Monroe requires careful budgeting
If you're considering Monroe County, the 16.6% rent-to-income ratio signals tighter affordability than statewide averages. Compare it to nearby Mercer (10.9%) or Moniteau (14.1%) to ensure the best fit for your budget.
Cost of Living Advisory: Monroe County
Affordability Verdict
For renters in Monroe County, the market is affordable. Expect to pay around $667/month in gross rent, with 22.0% of renter households considered cost-burdened.
Rent vs. Own
Renters in Monroe County pay $667/month on average, compared to $557/month for homeowners. This market favors buyers by about 16%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,680/year. For owner costs at the 28% rule, the required income is roughly $23,871/year. With a median household income of $48,299, most households can comfortably afford rent here. Notably, 22.0% of renter households in Monroe County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Monroe County sits 8% more expensive than Dent County ($615/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Monroe County
Rent Burden
16.6%
of gross income
Max Housing (28% Rule)
$1,127
per month
Owner Cost Burden
13.8%
of gross income
The median home in Monroe County may be a stretch
Median home value is $147,400. Estimated monthly cost: $1,177 vs. your max of $1,127.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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