Quick facts: Columbia, MO

Quick Facts

90.3
Cost of Living
below US average
128,555
Population
30.7
Crime Rate per 1000
above US average
$60,455
Median Income
below US average
$345,000
Median House Price
above US average
$1867.68
Average Rent
above US average
19%
Poverty Rate
above US average
3.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,455.

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Income Needed to Buy

βœ— Stretch
$108k/year
Based on $345,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $108k vs median $60,455
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Income Needed to Rent

⚠ Stretch
$80k/year
Based on $1867.68/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $80k vs median $60,455
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Columbia, MO

Columbia, Missouri, is a vibrant city located in the heart of the state, often referred to as the "Athens of Missouri" due to its strong emphasis on education and culture. It is home to the University of Missouri, the largest university in the state, contributing significantly to the city’s youthful atmosphere and diverse community. Columbia features a rich mix of history, arts, and outdoor activities. The downtown area is a hub of activity, boasting a variety of restaurants, shops, and galleries. Events such as the annual True/False Film Festival and the 9th Street Park summer concerts bring the community together and draw visitors from afar. Nature enthusiasts will enjoy the city's numerous parks and trails, including the popular MKT Trail and the scenic Rock Bridge Memorial State Park, ideal for hiking and biking. Additionally, Columbia is known for its commitment to sustainable living, with many local farms and a vibrant farmers’ market. With a robust economy, low cost of living, and a focus on education, Columbia offers a balanced lifestyle and a sense of community, making it a great place to live, work, and study.

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