A dollar in Kansas City stretches further than in a lot of U.S. cities. Here’s why
What’s a dollar worth? More in Kansas City than a lot of the rest of the country.
Kansas City is the 11th most affordable large metro in the country, according to a study from Porch, which is a platform that connects people to home repair services.
Using 2020’s Regional Price Parities dataset from the U.S. Bureau of Economic Analysis, Porch tracked the relative cost of living across different cities.
They determined where income goes the furthest by looking at the overall cost of living compared to the national average. They took consumer goods, services and housing into consideration when ranking the cities.
Kansas City when compared to the national average looked like this:
Overall cost of living: 5.3% less than the national average
Cost of housing: 15% less than the national average
Cost of goods: 4.5% less than the national average
Cost of utilities: 10.3% more than the national average
Per capita personal income: $58,057
The metro area finished behind Columbus and Charlotte and finished above Indianapolis and Grand Rapids.
As prices for goods, services and housing continue to rise, we’ll see how Kansas City fares.
Does this sound like your experience in Kansas City? Do you have more questions about how affordable or not this city is to live in? Ask us at kcq@kcstar.com, or with the form below, and we can dig deeper.
This story was originally published March 17, 2022 at 5:00 AM.
