Lockwood, MO vs New Hampton, MO

Lockwood, MO and New Hampton, MO have a very similar cost of living, with only a 1.5% difference in their overall index. Lockwood scores 63 while New Hampton 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 Lockwood is $800/month compared to $825/month in New Hampton — a 3% difference. Interestingly, home values tell a different story: while Lockwood has cheaper rent, New Hampton actually has lower median home values ($67,000 vs $87,800).

Median household income in Lockwood is $48,578 compared to $28,393 in New Hampton (+71.1%). While Lockwood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lockwood spend roughly 19.8% of their income on rent, less than the 34.9% in New Hampton. The Lockwood ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.