The 10 Most Affordable Cities in Missouri

By Drew Port

Oct. 22, 2024 at 2:46 PM CST

sunrise over missouri river in atchison, kansas

Missouri is an affordable state with thriving cities and beautiful scenery. The Show-Me State experiences all four seasons and has several geological regions dotted with lakes, rivers, and streams. NewHomeSource has compiled a list of the top 10 most affordable cities in Missouri to help you find the perfect place to call home.

10 Most Affordable Cities

1. Kennett

Home Price to Income Ratio: 2.39%

Average Property Tax: $733

Median Household Income: $38,297

The most affordable city in Missouri is Kennett, a small town of 10,000 residents. Although small, the city offers many activities, including outdoor concerts, sports games, seasonal festivals. If you want a beautiful place to relax or hike, visit one of its beautiful parks. Those looking for a small town with a close-knit community will love Kennett.

2. Poplar Bluff

Home Price to Income Ratio: 3.04%

Average Property Tax: $619

Median Household Income: $30,370

Poplar Bluff, also known as the Gateway to the Ozarks, is in southeast Missouri. This charming town has plenty of parks, unique cafes, superb restaurants, and intriguing museums. It has earned a reputation for serving up award-winning BBQ and the best pink lemonade in Missouri. You can sample both in the Downtown district, where you will also find breweries, local theatres, and shopping opportunities.

3. Sikeston

Home Price to Income Ratio: 3.05%

Average Property Tax: $826

Median Household Income: $39,803

Sikeston is conveniently located in the heart of the United States. It is a quiet town that has offers great southern hospitality. Additionally, there are many exciting things to keep you busy in Sikeston, such as visiting shopping malls, restaurants, antique galleries, and enjoying events that happen year-round.

4. Jennings

Home Price to Income Ratio: 1.94%

Average Property Tax: $894

Median Household Income: $33,425

The total area of Jennings is a mere 3.7 square miles, meaning that it is a tiny town. If living life in the slow lane sounds enticing, you will love Jennings. You can enjoy home-style cooking and charming shopping spots. The top attractions in Jennings are Koeneman Park, Maline Greenway Trailhead, and Bella Fontaine Park for walking or hiking.

5. Carthage

Home Price to Income Ratio: 2.15%

Average Property Tax: $691

Median Household Income: $41,226

Carthage, nicknamed “America’s Maple Leaf City”, is in the southwestern part of Missouri. It is known for its beautiful architecture, intriguing history, and inspirational arts. The Precious Moments Chapel is one of the most popular attractions, encircled by a colorful garden that provides a lovely spot to relax. Additionally, you can stop in one of the museums to learn about the city’s history.

6. Neosho

Home Price to Income Ratio: 2.44%

Average Property Tax: $672

Median Household Income: $38,214

Neosho, also referred to as the “Flower Box City”, is a great town for those wanting to live amid nature. The clear springs that flow through town give Neosho a sense of serenity. Big Spring Park is a favorite place amongst locals to relax and connect with nature. In the mood for a picnic? This park has ideal spots to have a picnic with family and friends.

7. Kirksville

Home Price to Income Ratio: 3.53%

Average Property Tax: $1,018

Median Household Income: $33,575

Kirksville, in northeast Missouri, is home to two universities which gives it a youthful college town flavor. Locals have easy access to shopping, restaurants, cafes, and movie theaters. And you will find fresh produce at a farmers market within minutes of Downtown Kirksville. This small town also has many cultural events and a rich blend of vibrant art, history, and nature.

8. Lebanon

Home Price to Income Ratio: 2.5%

Average Property Tax: $639

Median Household Income: $39,911

From parks to museums to local farms, Lebanon has it all. Residents can go fishing at Bennett Spring State Park, ziplining through treetops at NRO Zipline, bowling at Starlite Lanes, and so much more. Folks looking for a home where they will never run out of activities to do must check out Lebanon.

9. West Plains

Home Price to Income Ratio: 2.7%

Average Property Tax: $658

Median Household Income: $36,865

West Plains is a laid-back town where about 12,000 people reside. In West Plains, there are year-round bluegrass and gospel music festivals which are a magnet for locals. In addition, there are many art museums such as the Harlin Museum depicting the history of the Ozark region. And of course, there are also opportunities for adventuring in the outdoors at Grand Gulf State Park.

10. Webb City

Home Price to Income Ratio: 1.99%

Average Property Tax: $777

Median Household Income: $50,033

Webb City is located on the famous Route 66. This means there is no shortage of Route 66 landmarks throughout the city. Top spots amongst locals are the Webb City Farmers Market, King Jack Park, and the 66 Drive-In Theatre.

Cities with the Best Home Price to Income Ratio

While the list above is sorted by the lowest overall cost of living index, the following cities have the lowest home price to income ratio, meaning you can get more home for your money.

Florissant
- Florissant is a peaceful neighborhood in Missouri. Living in Florissant means having easy access to the state’s second largest city, St. Louis.
St. Ann
- The quaint town of St. Ann has many opportunities for outdoor relaxation. Vago Park, Wild Acres Park, and James McDonnell County Park are three favorite spots amongst locals.
Jennings