Cost of Living in Chesterfield, MO

With a cost of living index of 118, Chesterfield, MO is a notably expensive place to live. Living here is 18% more expensive than the national average and 43% above the Missouri state average of 75. With a population of 49,591, Chesterfield is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Chesterfield's cost of living. The median monthly rent is $1,553 (18% above the US median of $1,319), and the median home value sits at $458,000 (50% above the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Chesterfield is $133,380, which is 77% higher than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the St. Louis, MO-IL (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.