Cost of Living in Hermitage, MO

With a cost of living index of 61, Hermitage, MO is one of the most affordable cities in the country. Living here is 39% cheaper than the national average and 14% below the Missouri state average of 75. Hermitage is a small community of 683 residents.

Housing costs are the biggest factor in Hermitage's cost of living. The median monthly rent is $678 (49% below the US median of $1,319), and the median home value sits at $103,100 (66% below the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Hermitage is $22,813, which is 70% lower than the national median of $75,149. Residents spend roughly 36% 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.