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Springfield tops Missouri in cost-of-living report

State ranks fifth nationally, and companies say it's an attraction tool for the city

Posted 11/8/20

State ranks fifth nationally, and companies say it's an attraction tool for the city.

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Linda Palmisano

While Springfield’s lower cost of living is often touted, our wages are on the low end too, so the typical worker does not see a net benefit. In fact, according to 2018 data from the US Federal Reserve, average per capita personal income in the Springfield MSA was $41,780, compared with $47,746 for Missouri and $56,446 nationally. Suddenly Springfield’s 87.2 cost-of-living index score doesn’t look so good next to its 76.7 income score. And Springfield’s high food and medical costs strain the budgets of our fixed-income retired neighbors — especially if they spent their working lives earning low local wages!

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