Quick facts: Slater, MO

Quick Facts

94.1
Cost of Living
below US average
1,801
Population
17.21
Crime Rate per 1000
below US average
$33,088
Median Income
below US average
$250,000
Median House Price
above US average
$1340
Average Rent
below US average
10%
Poverty Rate
below US average
3.5%
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 $33,088.

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Income Needed to Buy

βœ— Stretch
$78k/year
Based on $250,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $78k vs median $33,088
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Income Needed to Rent

⚠ Stretch
$57k/year
Based on $1340/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $57k vs median $33,088
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Slater, MO

Slater is a small city located in Saline County in west-central Missouri. Known for its friendly community and small-town charm, Slater has a population of around 1,500 residents. Positioned along U.S. Route 240, it offers easy access to larger towns in the vicinity, including Marshall and Boonville. The town's history dates back to the late 19th century, with its economy historically rooted in agriculture and local businesses. Slater features several parks, recreational areas, and community events that foster a strong sense of community. The annual Fireworks Show and other local festivities attract residents and visitors alike and reinforce its reputation as a tight-knit community. Outdoor enthusiasts will appreciate the natural landscapes surrounding Slater, including nearby lakes and trails perfect for hiking or fishing. The local school district emphasizes education and community involvement, contributing to the city's appealing family-friendly atmosphere. With its blend of rural charm and community spirit, Slater serves as a delightful place to call home or visit.

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