Cost of Living in Ridgely, MO

With a cost of living index of 83, Ridgely, MO is a very affordable place to live. Living here is 17% cheaper than the national average and 8% above the Missouri state average of 75. Ridgely is a small community of 129 residents.

Housing costs are the biggest factor in Ridgely's cost of living. The median monthly rent is $950 (28% below the US median of $1,319), and the median home value sits at $262,500 (14% below the national median of $304,900). At current prices, the median home costs roughly 3.8x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ridgely is $69,375, which is 8% lower than the national median of $75,149. Residents spend roughly 16% 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.

Everyday prices in the Kansas City, MO-KS (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.