Cost of Living in Hannibal, MO
Housing
The housing market plays a significant role in determining the cost of living in Hannibal, MO.
- Housing Index: 89.1 / 100
- Median Home Price is: $140,000
- Average Rent (2 BR Apartment): $1340 per month
- Average Rent (2 BR House): $1457 per month
Considering the current housing index of 89.1, which is rated at 75.0, living in Hannibal, MO appears to be quite affordable. With a median home price of 140000 and average rent for a 2-bedroom apartment at 1340 and a house at 1457, it offers lower costs compared to national averages. Additionally, a favorable balance between purchasing and renting allows for flexibility in your housing options. A community’s growth rate, local amenities, and quality of schools should also factor into your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hannibal, MO.
- Electricity Price: $14.64 USD (median by state)
- Natural Gas Price: $23.25 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $234 per month
Living in Hannibal, MO could entail higher utility costs. Electricity costs sit at $14.64, while natural gas is priced at $23.25 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $234 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hannibal is a financially viable option for your relocation.