The 63857 zip code in Kennett tops our ranking of the most affordable places to live in Missouri.
We looked at 189 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Missouri
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Kennett 🥇 | 100.0 | $101,498 | $1,443 |
| 2 | Saint Louis 🥈 | 96.9 | $39,225 | $1,443 |
| 3 | Sikeston 🥉 | 96.1 | $145,848 | $1,443 |
| 4 | Kirksville | 95.5 | $160,213 | $767 |
| 5 | Saint Joseph | 94.0 | $117,109 | $1,443 |
| 6 | Dexter | 91.1 | $154,939 | $1,443 |
| 7 | Sullivan | 90.7 | $182,976 | $1,443 |
| 8 | Marshall | 90.7 | $167,511 | $1,443 |
| 9 | Jackson | 90.1 | $251,455 | $1,050 |
| 10 | Cape Girardeau | 89.4 | $224,768 | $961 |
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1. Kennett
Here's why the 63857 zip code in Kennett is Missouri's most affordable place to live.
🔎 Key data about Kennett
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $101,498[1] | No. 9 | -$166,247.94 |
| Home affordability ratio | 1.9 | No. 3 | -1.8 |
| Home value five-year change | 11.4%[2] | No. 1 | -32.6% |
| Home value one-year forecast | -4.6%[3] | No. 1 | -5.7% |
| Rental costs | $1,443[4] | No. 65 | $0 |
| Rent affordability ratio | 1.95% | No. 51 | 0.0% |
| Median household income | $54,235[5] | No. 133 | -$19,588 |
| Property taxes | $882[6] | No. 11 | -$1,519 |
| Energy costs | $0.11 kWh[7] | No. 1 | -$0.01 |
Kennett's 63857 zip code is the cheapest place to live in Missouri, leading the 189 markets we evaluated.
The median home value is $101,498, making it the 9th-cheapest housing market in the state. Forecasts project a -4.6% change in home values in the next year. Rent in the zip code averages $1,443 per month, which is the 51st cheapest amount in Missouri.
The median property tax for homeowners in Kennett is $882 per household, the No. 11 ranked market in Missouri.
Residents pay $0.11 per kWh of electricity, which ranks No. 1 among Missouri markets.
2. Saint Louis
The 63115 zip code is the 2nd-cheapest place to live in Missouri.
🔎 Key data about Saint Louis
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.9 | No. 2 | N/A |
| Median home value | $39,225[8] | No. 1 | -$228,520.56 |
| Home affordability ratio | 1.271973409 | No. 1 | -2.4 |
| Home value five-year change | 0.2619351845[9] | No. 9 | -17.9% |
| Home value one-year forecast | 0.8%[10] | No. 79 | -0.3% |
| Rental costs | $1,443[11] | No. 65 | $0 |
| Rent affordability ratio | 1.95% | No. 51 | 0.0% |
| Median household income | 30838[12] | No. 188 | -$42,985 |
| Property taxes | $448[13] | No. 1 | -$1,953 |
| Energy costs | 0.113448588 kWh[14] | No. 1 | -$0.01 |
Saint Louis's 63115 zip code has a median home value of $39,225, which is the 79th-cheapest housing market in Missouri. You can rent for an average of $1,443 per month. That's the 65th-cheapest price in the state.
The average household income in the zip code is 30838, which ranks 188th-highest in the state.
Homeowners in Saint Louis pay a median property tax of $448 per year, making it the 1st-most affordable market in Missouri.
Saint Louis ranks No. 1 among Missouri energy markets. You'll pay 0.113448588 per kWh of electricity.
3. Sikeston
The 3rd-cheapest place to live in Missouri is Sikeston's 63801 zip code.
🔎 Key data about Sikeston
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.1 | No. 3 | N/A |
| Median home value | $145,848[15] | No. 24 | -$121,897.97 |
| Home affordability ratio | 2.750494207 | No. 24 | -0.9 |
| Home value five-year change | 0.2218969854[16] | No. 5 | -21.9% |
| Home value one-year forecast | -2%[17] | No. 3 | -3.1% |
| Rental costs | $1,443[18] | No. 65 | $0 |
| Rent affordability ratio | 1.95% | No. 51 | 0.0% |
| Median household income | 53026[19] | No. 138 | -$20,797 |
| Property taxes | $997[20] | No. 20 | -$1,404 |
| Energy costs | 0.113448588 kWh[21] | No. 1 | -$0.01 |
The No. 24 cheapest housing market in Missouri is Sikeston's 63801 zip code, with a median home value of $145,848. Rents in the market average $1,443 per month, making it the 65th-most affordable rental market in the state.
The median property tax for households in Sikeston is $997, which makes it the 20th-cheapest place in Missouri. Sikeston ranks No. 1 among Missouri markets by energy costs. Residents pay 0.113448588 per kWh of electricity.
4. Kirksville
The 63501 zip code in Kirksville comes in at No. 4 on our list of the cheapest places to live in Missouri.
🔎 Key data about Kirksville
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.5 | No. 4 | N/A |
| Median home value | $160,213[22] | No. 36 | -$107,532.75 |
| Home affordability ratio | 3.326887425 | No. 69 | -0.3 |
| Home value five-year change | 0.2805931082[23] | No. 11 | -16.0% |
| Home value one-year forecast | -0.8%[24] | No. 4 | -1.9% |
| Rental costs | $767[25] | No. 2 | -$676 |
| Rent affordability ratio | 1.59% | No. 22 | -0.4% |
| Median household income | 48157[26] | No. 162 | -$25,666 |
| Property taxes | $1,252[27] | No. 38 | -$1,149 |
| Energy costs | 0.113448588 kWh[28] | No. 1 | -$0.01 |
The No. 36 cheapest housing market in Missouri is Kirksville's 63501 zip code, where the median home value is $160,213. Renters here pay an average of $767 per month.
When it comes to energy costs, Kirksville ranks 1st among Missouri markets. Residents pay 0.113448588 per kWh of electricity.
The median property tax for households in the zip code is $1,252, which makes it the 38th-cheapest market in Missouri.
5. Saint Joseph
The 64504 zip code in Saint Joseph ranks No. 5 among Missouri's most affordable places to live.
🔎 Key data about Saint Joseph
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 94.0 | No. 5 | N/A |
| Median home value | $117,109[29] | No. 17 | -$150,636.35 |
| Home affordability ratio | 2.177643665 | No. 8 | -1.4 |
| Home value five-year change | 0.4158433901[30] | No. 64 | -2.5% |
| Home value one-year forecast | 0.6%[31] | No. 14 | -0.5% |
| Rental costs | $1,443[32] | No. 65 | $0 |
| Rent affordability ratio | 1.95% | No. 51 | 0.0% |
| Median household income | 53778[33] | No. 135 | -$20,045 |
| Property taxes | $911[34] | No. 12 | -$1,490 |
| Energy costs | 0.1174825799 kWh[35] | No. 101 | $0.00 |
Saint Joseph's 64504 zip code has a median home value of $117,109, the 17th-cheapest market in the state. Forecasts project a 0.6% change in home values in the next year.
The median property tax per household in Saint Joseph is $911. It's the 12th-cheapest market by tax rate in Missouri.
6. Dexter
The No. 6 most affordable place to live in Missouri is the 63841 zip code.
🔎 Key data about Dexter
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.1 | No. 6 | N/A |
| Median home value | $154,939[36] | No. 28 | -$112,806.96 |
| Home affordability ratio | 2.952169456 | No. 34 | -0.7 |
| Home value five-year change | 0.2802463534[37] | No. 10 | -16.0% |
| Home value one-year forecast | 1.068520074%[38] | No. 89 | 0.0% |
| Rental costs | $1,443[39] | No. 65 | $0 |
| Rent affordability ratio | 1.95% | No. 51 | 0.0% |
| Median household income | 52483[40] | No. 142 | -$21,340 |
| Property taxes | $1,148[41] | No. 29 | -$1,253 |
| Energy costs | 0.113448588 kWh[42] | No. 1 | -$0.01 |
The back half of our top 10 kicks off with Dexter's 63841 zip code, which has the 28th-cheapest home values in Missouri. The median home value is $154,939. Rents average $1,443 per month, making it the 65th-most affordable rental market in the state.
Residents pay 0.113448588 per kWh of electricity. It's the 1st-cheapest energy market.
7. Sullivan
Sullivan's 63080 zip code is the 7th-cheapest place to live in Missouri.
🔎 Key data about Sullivan
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.7 | No. 7 | N/A |
| Median home value | $182,976[43] | No. 51 | -$84,769.32 |
| Home affordability ratio | 2.991324896 | No. 36 | -0.6 |
| Home value five-year change | 0.2073100179[44] | No. 3 | -23.3% |
| Home value one-year forecast | 0.5%[45] | No. 10 | -0.6% |
| Rental costs | $1,443[46] | No. 65 | $0 |
| Rent affordability ratio | 1.95% | No. 51 | 0.0% |
| Median household income | 61169[47] | No. 106 | -$12,654 |
| Property taxes | $1,402[48] | No. 55 | -$999 |
| Energy costs | 0.113448588 kWh[49] | No. 1 | -$0.01 |
You'll find the 51st-cheapest home values in Missouri in Sullivan's 63080 zip code. The median value: $182,976. Renters in Sullivan pay an average of $1,443 per month.
Homeowners in Sullivan pay a median property tax of $1,402 per year, which is Missouri's 55th-most affordable market.
The average household income is 61169, which ranks 106th-highest in the state.
8. Marshall
The 8th-cheapest place to live in Missouri is Marshall's 65340 zip code.
🔎 Key data about Marshall
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.7 | No. 8 | N/A |
| Median home value | $167,511[50] | No. 43 | -$100,234.73 |
| Home affordability ratio | 3.103721384 | No. 46 | -0.5 |
| Home value five-year change | 0.340576646[51] | No. 19 | -10.0% |
| Home value one-year forecast | -2.3%[52] | No. 2 | -3.4% |
| Rental costs | $1,443[53] | No. 65 | $0 |
| Rent affordability ratio | 1.95% | No. 51 | 0.0% |
| Median household income | 53971[54] | No. 134 | -$19,852 |
| Property taxes | $1,220[55] | No. 35 | -$1,181 |
| Energy costs | 0.1297059874 kWh[56] | No. 151 | $0.01 |
The 43rd-cheapest housing market in Missouri is Marshall's 65340 zip code, with a median home value of $167,511. Renters pay an average of $1,443 per month, the No. 65 rental market in the state.
The median property tax for households in Marshall is $1,220, which makes it the 35th-cheapest place in Missouri. The average household income of 53971 ranks 134th.
9. Jackson
Jackson's 63755 zip code sneaks into the top ten of Missouri's most affordable places to live.
🔎 Key data about Jackson
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.1 | No. 9 | N/A |
| Median home value | $251,455[57] | No. 103 | -$16,290.88 |
| Home affordability ratio | 3.241190389 | No. 58 | -0.4 |
| Home value five-year change | 0.4168744903[58] | No. 67 | -2.4% |
| Home value one-year forecast | 0.1%[59] | No. 6 | -1.0% |
| Rental costs | $1,050[60] | No. 11 | -$393 |
| Rent affordability ratio | 1.35% | No. 8 | -0.6% |
| Median household income | 77581[61] | No. 60 | $3,758 |
| Property taxes | $1,476[62] | No. 68 | -$925 |
| Energy costs | 0.113448588 kWh[63] | No. 1 | -$0.01 |
The 103rd-cheapest housing market in Missouri is Jackson's 63755 zip code, where the median home value is $251,455. Renters pay an average of $1,050 per month. It's the state's 11th-cheapest rental market.
The median property tax for households within the zip code is $1,476, which makes it the 68th-cheapest property tax rate in Missouri.
10. Cape Girardeau
The final spot on our list of the most affordable places to live in Missouri goes to the 63701 zip code in Cape Girardeau.
🔎 Key data about Cape Girardeau
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 89.4 | No. 10 | N/A |
| Median home value | $224,768[64] | No. 84 | -$42,977.27 |
| Home affordability ratio | 3.476104595 | No. 86 | -0.2 |
| Home value five-year change | 0.3729895017[65] | No. 30 | -6.8% |
| Home value one-year forecast | 0.1%[66] | No. 6 | -1.0% |
| Rental costs | $961[67] | No. 6 | -$481 |
| Rent affordability ratio | 1.49% | No. 14 | -0.5% |
| Median household income | 64661[68] | No. 97 | -$9,162 |
| Property taxes | $1,480[69] | No. 70 | -$921 |
| Energy costs | 0.113448588 kWh[70] | No. 1 | -$0.01 |
The 84th-most affordable market in Missouri is Cape Girardeau's 63701 zip code. The median home value is $224,768. Rent in the market costs $961 per month on average, making it the 6th-most affordable rental market in Missouri.
The median property tax for households in Cape Girardeau is $1,480, which is the 70th-cheapest property tax rate in the state.
Cape Girardeau ranks No. 1 among Missouri markets by energy costs, with households paying 0.113448588 per kWh of electricity.
How we ranked the most affordable places in Missouri
We evaluated 189 zip codes in Missouri with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Missouri, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Missouri average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Missouri average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
