New Franklin, MO vs Preston, MO

New Franklin, MO and Preston, MO have a very similar cost of living, with only a 0.6% difference in their overall index. New Franklin scores 61 while Preston scores 62 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 New Franklin is $680/month compared to $586/month in Preston — a 16% difference. Interestingly, home values tell a different story: while Preston has cheaper rent, New Franklin actually has lower median home values ($117,700 vs $147,500).

Median household income in New Franklin is $53,056 compared to $30,500 in Preston (+74%). New Franklin offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New Franklin spend roughly 15.4% of their income on rent, less than the 23.1% in Preston.