Columbia has highest cost of living in Missouri

2 months 3 weeks 6 days ago Thursday, August 24 2017 Aug 24, 2017 Thursday, August 24, 2017 6:14:00 PM CDT August 24, 2017 in News
By: Maia McDonald, KOMU 8 Reporter
loading

COLUMBIA - According to the Missouri Economic Research and Information Center (MERIC), Columbia’s cost of living was the highest in Missouri, ranking an index of 93.0 in the first quarter of 2017, well above the state average of 90.0 and several other Missouri cities indices.

Although when compared to other U.S. states Missouri does have one of the lowest costs of living in the country, MERIC finds that including amongst major metropolitan cities in Missouri like Jefferson City, Joplin, Kansas City, Springfield, and St. Louis, Columbia residents often pay more for groceries, utilities, transportation, health, and other miscellaneous costs.

One contributor to increasing cost of living numbers, housing, has recently become more visible in Columbia. Multiple student housing complexes have either started or completed construction in the last few years, causing some local businesses or homes to leave.

However, Columbia Chamber of Commerce president Matt McCormick says the picture painted by these recent numbers doesn’t tell the full story of living in Columbia.

“The housing that we’ve seeing in downtown and the housing growth in general for Columbia, what we’ve seen has been a good thing,” McCormick said. “Bringing more people to Columbia, that’s more people that are shopping in our stores, more people that are eating in our restaurants. It’s our future. It’s our workforce so what we’re seeing are some good things.”

McCormick maintains that any increase in cost of living is considerably lower when compared to other states across the country. Not everyone, however shares McCormick’s positive outlook on Columbia’s economic situation. In his 2017 State of the City Address, Matthes urged for a move away from the city’s economic dependency on sales tax. In his address to the public, Mattes suggested instead property and online sales taxes as a possible source of income.

McCormick says cost of living is a important factor for any city. “That’s one of those areas people continuously take a look at whenever they’re judging… businesses take a look at that if their looking at moving into an area. It’s something that residents take a look at or future residents take a look at. So making sure that we have a competitive cost of living and we have one that’s a stable cost of living that’s not major fluctuations up and down is a good thing for people.”




More News

Grid
List
COLUMBIA - The heavily traveled road Ballenger Lane has raised concern to homeowners and travelers due to its lack of... More >>
3 hours ago Tuesday, November 21 2017 Nov 21, 2017 Tuesday, November 21, 2017 2:20:00 AM CST November 21, 2017 in News
COLUMBIA - Columbia education leaders are concerned Gov. Eric Greitens is playing partisan politics with the state's board of education... More >>
6 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 11:21:00 PM CST November 20, 2017 in News
BELLE - The mayor of Belle, who is also a volunteer firefighter, crashed into the back of an ambulance that... More >>
7 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 10:32:54 PM CST November 20, 2017 in Target 8
BELLE - Abatement Officer Tony Baretich is under investigation for 13 complaints that were formally filed against him after he... More >>
9 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 8:16:00 PM CST November 20, 2017 in News
COLUMBIA - The city council met Monday night to hear the Visitors Bureau proposal to change the city's current definition... More >>
11 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 6:12:00 PM CST November 20, 2017 in News
JEFFERSON CITY - The state of Missouri has announced an increase to the state's minimum wage Monday. Businesses will... More >>
12 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 6:01:00 PM CST November 20, 2017 in News
FULTON - Police arrested a woman after she allegedly attempted to steal a car from a shop, then broke into... More >>
14 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 3:23:00 PM CST November 20, 2017 in News
COLUMBIA - Jack and Katie Hanney know probably better than anyone else that life can throw curve-balls when least expected.... More >>
14 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 3:03:00 PM CST November 20, 2017 in News
COLUMBIA - Mayors from across Missouri met in Columbia Monday to discuss a variety of policies they say are negatively... More >>
15 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 2:13:00 PM CST November 20, 2017 in News
COLUMBIA - As videos surface of package thieves targeting many neighborhoods, residents are talking about the need for security cameras.... More >>
15 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 2:11:00 PM CST November 20, 2017 in News
COLUMBIA - The owner of the Broadway Hotel still plans to request a TIF from City Council for a $20... More >>
16 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 2:00:00 PM CST November 20, 2017 in News
COLUMBIA - Prosecutors charged an inmate at the Boone County Jail with damaging the facility after he allegedly flushed his... More >>
16 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 1:53:33 PM CST November 20, 2017 in News
ST. LOUIS (AP) — A federal investigation will look into possible civil rights violations by police in the St.... More >>
16 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 1:44:00 PM CST November 20, 2017 in News
FAYETTE - The special prosecutor in the case against a woman accused of bullying a teenager has filed more charges,... More >>
16 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 1:06:00 PM CST November 20, 2017 in News
COLUMBIA - With the holiday season upon us, more people will be traveling, and Columbia Regional Airport announced another way... More >>
17 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 12:51:00 PM CST November 20, 2017 in News
SPRINGFIELD (AP) — The governor of Missouri has appointed 16 people to help review child abuse cases after the state... More >>
17 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 12:35:38 PM CST November 20, 2017 in News
POTOSI (AP) — An eastern Missouri police officer has died following an off-duty accident. The Daily Journal newspaper in... More >>
18 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 11:22:00 AM CST November 20, 2017 in News
MOBERLY - Authorities are investigating a possible explosion that led to a structure fire in Moberly Sunday night. The... More >>
19 hours ago Monday, November 20 2017 Nov 20, 2017 Monday, November 20, 2017 10:25:00 AM CST November 20, 2017 in News
Columbia, MO
Broken Clouds 41°
6am 45°
7am 45°
8am 44°
9am 47°

Select a station to view its upcoming schedule:

Coming Up Next

5:00a
KOMU 8 News Today
6:00a
KOMU 8 News Today
7:00a
Today
5:30a
Paid Program
6:00a
Page Six TV
6:30a
Cops

Tonight's Schedule

7:00p
The Voice
8:00p
This Is Us
9:01p
Chicago Med
7:00p
The Flash
8:00p
DC's Legends of Tomorrow
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld