Cost of Living in Bakersfield, MO

With a cost of living index of 75, Bakersfield, MO is a very affordable place to live. Living here is 25% cheaper than the national average and in line with the Missouri state average. Bakersfield is a small community of 246 residents.

Housing costs are the biggest factor in Bakersfield's cost of living. The median monthly rent is $1,188 (10% below the US median of $1,319), and the median home value sits at $87,700 (71% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Bakersfield is $36,951, which is 51% lower than the national median of $75,149. Residents spend roughly 39% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.