Diamond, MO vs New Madrid, MO

Diamond, MO and New Madrid, MO have a very similar cost of living, with only a 4% difference in their overall index. Diamond scores 65 while New Madrid scores 63 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Diamond is $814/month compared to $692/month in New Madrid — a 18% difference. Home values follow the same pattern: New Madrid is more affordable at $120,700 median vs $132,800.

Median household income in Diamond is $74,000 compared to $51,250 in New Madrid (+44.4%). While Diamond is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Diamond spend roughly 13.2% of their income on rent, less than the 16.2% in New Madrid.