Hannibal, MO vs Richmond, MO

Hannibal, MO and Richmond, MO have a very similar cost of living, with only a 1.9% difference in their overall index. Hannibal scores 67 while Richmond scores 66 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 Hannibal is $821/month compared to $734/month in Richmond — a 12% difference. Interestingly, home values tell a different story: while Richmond has cheaper rent, Hannibal actually has lower median home values ($126,300 vs $135,500).

Median household income in Hannibal is $54,071 compared to $58,906 in Richmond (-8.2%). Richmond offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Hannibal spend roughly 18.2% of their income on rent, more than the 15% in Richmond.