Cost of Living in Parnell, MO

With a cost of living index of 68, Parnell, MO is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 6% below the Missouri state average of 75. Parnell is a small community of 213 residents.

The median household income in Parnell is $42,500, which is 43% lower than the national median of $75,149. Residents spend roughly 10% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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.