Nevada, MO vs New Madrid, MO

Nevada, MO and New Madrid, MO have a very similar cost of living, with only a 1.5% difference in their overall index. Nevada scores 62 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 Nevada is $716/month compared to $692/month in New Madrid — a 4% difference. Interestingly, home values tell a different story: while New Madrid has cheaper rent, Nevada actually has lower median home values ($100,600 vs $120,700).

Median household income in Nevada is $45,799 compared to $51,250 in New Madrid (-10.6%). While New Madrid is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Nevada spend roughly 18.8% of their income on rent, more than the 16.2% in New Madrid.