Cost of Living in Preston, MO

With a cost of living index of 62, Preston, MO is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 13% below the Missouri state average of 75. Preston is a small community of 348 residents.

Housing costs are the biggest factor in Preston's cost of living. The median monthly rent is $586 (56% below the US median of $1,319), and the median home value sits at $147,500 (52% below the national median of $304,900). At current prices, the median home costs roughly 4.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Preston is $30,500, which is 59% lower than the national median of $75,149. Residents spend roughly 23% 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.