Cost of Living in Springfield, MO

How far does a $70,000 salary go in Springfield? Estimated income taxes on that gross salary total approximately $9,721 per year — combining federal taxes with Missouri's state income tax. Subtract rent for a 2-bedroom apartment ($1,095/month based on HUD Fair Market Rents for the Springfield metro area) and the estimated annual take-home is $47,139, or roughly $3,928 per month for everything else: food, transportation, savings, and discretionary spending.

The Springfield metro has a cost of living index of 68.1 according to the Bureau of Economic Analysis Regional Price Parities (national average = 100). At 32% below the national average, Springfield is a genuinely affordable metro where everyday expenses stretch further than in most cities.

At a $70,000 salary, the estimated 2-bedroom rent in Springfield represents approximately 19% of gross income. That is well within the 30% rule of thumb that financial advisors typically recommend, leaving significant room for savings and discretionary spending.