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 | $99,510 | $1,421 |
| 2 | Saint Louis🥈 | 98.8 | $58,527 | $1,421 |
| 3 | Saint Joseph 🥉 | 96.3 | $109,854 | $1,421 |
| 4 | Sikeston | 96.0 | $147,315 | $1,421 |
| 5 | Kirksville | 93.5 | $165,039 | $738 |
| 6 | Fulton | 92.8 | $217,739 | $843 |
| 7 | Hannibal | 91.6 | $148,649 | $1,421 |
| 8 | Sullivan | 91.2 | $180,946 | $1,421 |
| 9 | Ferguson | 91.0 | $102,905 | $1,264 |
| 10 | Dexter | 90.7 | $157,976 | $1,421 |
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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 | No. 1 | N/A |
| Median home value | $99,510[1] | No. 8 | -$167,207.58 |
| Home affordability ratio | 1.8 | No. 3 | -1.8 |
| Home value five-year change | 5.0%[2] | No. 1 | -40.2% |
| Home value one-year forecast | -6.7%[3] | No. 1 | -5.7% |
| Rental costs | $1,421[4] | No. 63 | $0 |
| Rent affordability ratio | 1.93% | No. 58 | 0.0% |
| Median household income | $54,235[5] | No. 133 | -$19,263 |
| Property taxes | $885[6] | No. 12 | -$1,412 |
| 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 $99,510, making it the 8th-cheapest housing market in the state. Forecasts project a -6.7% change in home values in the next year. Rent in the zip code averages $1,421 per month, which is the 58th cheapest amount in Missouri.
The median property tax for homeowners in Kennett is $885 per household, the No. 12 ranked market in Missouri.
Residents pay $0.11 per kWh of electricity, which ranks No. 1 among Missouri markets.
2. Saint Louis
The 63113 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 | 98.8 | No. 2 | N/A |
| Median home value | $58,527[8] | No. 2 | -$208,190.87 |
| Home affordability ratio | 1.5 | No. 2 | -2.1 |
| Home value five-year change | 17.8%[9] | No. 4 | -27.4% |
| Home value one-year forecast | -2.2%[10] | No. 8 | -1.2% |
| Rental costs | $1,421[11] | No. 63 | $0 |
| Rent affordability ratio | 1.93% | No. 58 | 0.0% |
| Median household income | $38,498[12] | No. 183 | -$35,000 |
| Property taxes | $444[13] | No. 1 | -$1,853 |
| Energy costs | $0.11 kWh[14] | No. 1 | -$0.01 |
Saint Louis's 63113 zip code has a median home value of $58,527, which is the 8th-cheapest housing market in Missouri. You can rent for an average of $1,421 per month. That's the 63rd-cheapest price in the state.
The average household income in the zip code is $38,498, which ranks 183rd-highest in the state.
Homeowners in Saint Louis pay a median property tax of $444 per year, making it the 1st-most affordable market in Missouri.
Saint Louis ranks No. 1 among Missouri energy markets. You'll pay $0.11 per kWh of electricity.
3. Saint Joseph
The 3rd-cheapest place to live in Missouri is Saint Joseph's 64504 zip code.
🔎 Key data about Saint Joseph
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.3 | No. 3 | N/A |
| Median home value | $109,854[15] | No. 13 | -$156,863.16 |
| Home affordability ratio | 2.0 | No. 8 | -1.6 |
| Home value five-year change | 37.8%[16] | No. 34 | -7.3% |
| Home value one-year forecast | -2.3%[17] | No. 6 | -1.3% |
| Rental costs | $1,421[18] | No. 63 | $0 |
| Rent affordability ratio | 1.93% | No. 58 | 0.0% |
| Median household income | $53,778[19] | No. 135 | -$19,720 |
| Property taxes | $842[20] | No. 10 | -$1,455 |
| Energy costs | $0.12 kWh[21] | No. 101 | $0.00 |
The No. 13 cheapest housing in Missouri is Saint Joseph's 64504 zip code, with a median home value of $109,854. Rents in the market average $1,421 per month, making it the 63rd-most affordable rental market in the state.
The median property tax for households in Saint Joseph is $842, which makes it the 10th-cheapest place in Missouri. Saint Joseph ranks No. 101 among Missouri markets by energy costs. Residents pay $0.12 per kWh of electricity.
4. Sikeston
The 63801 zip code in Sikeston comes in at No. 4 on our list of the cheapest places to live in Missouri.
🔎 Key data about Sikeston
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.0 | No. 4 | N/A |
| Median home value | $147,315[22] | No. 24 | -$119,402.64 |
| Home affordability ratio | 2.8 | No. 21 | -0.9 |
| Home value five-year change | 19.9%[23] | No. 5 | -25.3% |
| Home value one-year forecast | -4.2%[24] | No. 2 | -3.2% |
| Rental costs | $1,421[25] | No. 63 | $0 |
| Rent affordability ratio | 1.93% | No. 58 | 0.0% |
| Median household income | $53,026[26] | No. 138 | -$20,472 |
| Property taxes | $948[27] | No. 18 | -$1,349 |
| Energy costs | $0.11 kWh[28] | No. 1 | -$0.01 |
The No. 24 cheapest housing market in Missouri is Sikeston's 63801 zip code, where the median home value is $147,315. Renters here pay an average of $1,421 per month.
When it comes to energy costs, Sikeston ranks 1st among Missouri markets. Residents pay $0.11 per kWh of electricity.
The median property tax for households in the zip code is $948, which makes it the 18th-cheapest market in Missouri.
5. Kirksville
The 63501 zip code in Kirksville ranks No. 5 among Missouri's most affordable places to live.
🔎 Key data about Kirksville
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.5 | No. 5 | N/A |
| Median home value | $165,039[29] | No. 37 | -$101,678.96 |
| Home affordability ratio | 3.4 | No. 78 | -0.2 |
| Home value five-year change | 33.6%[30] | No. 17 | -11.6% |
| Home value one-year forecast | -2.4%[31] | No. 4 | -1.4% |
| Rental costs | $738[32] | No. 2 | -$683 |
| Rent affordability ratio | 1.53% | No. 27 | -0.4% |
| Median household income | $48,157[33] | No. 162 | -$25,341 |
| Property taxes | $1,194[34] | No. 39 | -$1,103 |
| Energy costs | $0.11 kWh[35] | No. 1 | -$0.01 |
Kirksville's 63501 zip code has a median home value of $165,039, the 37th-cheapest market in the state. Forecasts project a -2.4% change in home values in the next year.
The median property tax per household in Kirksville is $1,194. It's the 39th-cheapest market by tax rate in Missouri.
6. Fulton
The No. 6 most affordable place to live in Missouri is the 65251 zip code.
🔎 Key data about Fulton
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.8 | No. 6 | N/A |
| Median home value | $217,739[36] | No. 81 | -$48,978.10 |
| Home affordability ratio | 3.1 | No. 47 | -0.5 |
| Home value five-year change | 31.3%[37] | No. 12 | -13.9% |
| Home value one-year forecast | -0.9%[38] | No. 113 | 0.1% |
| Rental costs | $843[39] | No. 5 | -$579 |
| Rent affordability ratio | 1.22% | No. 5 | -0.7% |
| Median household income | $69,195[40] | No. 84 | -$4,303 |
| Property taxes | $1,417[41] | No. 68 | -$880 |
| Energy costs | $0.11 kWh[42] | No. 1 | -$0.01 |
The back half of our top 10 kicks off with Fulton's 65251 zip code, which has the 81st-cheapest home values in Missouri. The median home value is $217,739. Rents average $843 per month, making it the 5th-most affordable rental market in the state.
Residents pay $0.11 per kWh of electricity. It's the 1st-cheapest energy market.
7. Hannibal
Hannibal's 63401 zip code is the 7th-cheapest place to live in Missouri.
🔎 Key data about Hannibal
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.6 | No. 7 | N/A |
| Median home value | $148,649[43] | No. 26 | -$118,068.31 |
| Home affordability ratio | 2.5 | No. 13 | -1.1 |
| Home value five-year change | 44.4%[44] | No. 80 | -0.8% |
| Home value one-year forecast | -0.6%[45] | No. 156 | 0.4% |
| Rental costs | $1,421[46] | No. 63 | $0 |
| Rent affordability ratio | 1.93% | No. 58 | 0.0% |
| Median household income | $59,395[47] | No. 112 | -$14,103 |
| Property taxes | $1,284[48] | No. 49 | -$1,013 |
| Energy costs | $0.11 kWh[49] | No. 1 | -$0.01 |
You'll find the 26th-cheapest home values in Missouri in Hannibal's 63401 zip code. The median value: $148,649. Renters in Hannibal pay an average of $1,421 per month.
Homeowners in Hannibal pay a median property tax of $1,284 per year, which is Missouri's 49th-most affordable market.
The average household income is $59,395, which ranks 112th-highest in the state.
8. Sullivan
The 8th-cheapest place to live in Missouri is Sullivan's 63080 zip code.
🔎 Key data about Sullivan
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.2 | No. 8 | N/A |
| Median home value | $180,946[50] | No. 51 | -$85,771.12 |
| Home affordability ratio | 3.0 | No. 32 | -0.7 |
| Home value five-year change | 22.5%[51] | No. 6 | -22.7% |
| Home value one-year forecast | -1.4%[52] | No. 79 | -0.4% |
| Rental costs | $1,421[53] | No. 63 | $0 |
| Rent affordability ratio | 1.93% | No. 58 | 0.0% |
| Median household income | $61,169[54] | No. 106 | -$12,329 |
| Property taxes | $1,379[55] | No. 61 | -$918 |
| Energy costs | $0.11 kWh[56] | No. 1 | -$0.01 |
The 51st-cheapest housing market in Missouri is Sullivan's 63080 zip code, with a median home value of $180,946. Renters pay an average of $1,421 per month, the No. 63 rental market in the state.
The median property tax for households in Sullivan is $1,379, which makes it the 61st-cheapest place in Missouri. The average household income of $61,169 ranks 106th.
9. Ferguson
Ferguson's 63135 zip code sneaks into the top ten of Missouri's most affordable places to live.
🔎 Key data about Ferguson
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.0 | No. 9 | N/A |
| Median home value | $102,905[57] | No. 12 | -$163,812.57 |
| Home affordability ratio | 1.9 | No. 4 | -1.7 |
| Home value five-year change | 44.7%[58] | No. 84 | -0.4% |
| Home value one-year forecast | -1.9%[59] | No. 16 | -0.9% |
| Rental costs | $1,264[60] | No. 43 | -$157 |
| Rent affordability ratio | 2.38% | No. 158 | 0.4% |
| Median household income | $53,188[61] | No. 137 | -$20,310 |
| Property taxes | $1,465[62] | No. 72 | -$832 |
| Energy costs | $0.11 kWh[63] | No. 1 | -$0.01 |
The 12th-cheapest housing market in Missouri is Ferguson's 63135 zip code, where the median home value is $102,905. Renters pay an average of $1,264 per month. It's the state's 43rd-cheapest rental market.
The median property tax for households within the zip code is $1,465, which makes it the 72nd-cheapest property tax rate in Missouri.
10. Dexter
The final spot on our list of the most affordable places to live in Missouri goes to the 63841 zip code in Dexter.
🔎 Key data about Dexter
| Data point | Value | Rank (out of 189 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.7 | No. 10 | N/A |
| Median home value | $157,976[64] | No. 31 | -$108,742.03 |
| Home affordability ratio | 3.0 | No. 37 | -0.6 |
| Home value five-year change | 32.4%[65] | No. 14 | -12.8% |
| Home value one-year forecast | -1.0%[66] | No. 93 | 0.0% |
| Rental costs | $1,421[67] | No. 63 | $0 |
| Rent affordability ratio | 1.93% | No. 58 | 0.0% |
| Median household income | $52,483[68] | No. 142 | -$21,015 |
| Property taxes | $1,123[69] | No. 29 | -$1,174 |
| Energy costs | $0.11 kWh[70] | No. 1 | -$0.01 |
The 31st-most affordable market in Missouri is Dexter's 63841 zip code. The median home value is $157,976. Rent in the market costs $1,421 per month on average, making it the 63rd-most affordable rental market in Missouri.
The median property tax for households in Dexter is $1,123, which is the 29th-cheapest property tax rate in the state.
Dexter ranks No. 1 among Missouri markets by energy costs, with households paying $0.11 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.
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.
Methodology: What is an Affordability Score?
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.
