The state with the cheapest assisted living is Missouri. According to the 2021 Genworth Cost of Care Survey, seniors in Missouri can expect to pay about $99 per day or $3,000 per month for assisted living. Annually, this works out to $36,000, which is on par with rates from the year 2020. Nationally, retirees pay an average of $4,500 per month for this type of care. 

Assisted Living Costs in Missouri Cities

Assisted living prices in Missouri can vary considerably depending on exact location. Jefferson City, which is the capital city of Missouri, has the cheapest rates, at only $2,075 per month. Columbia is located about 30 miles from Jefferson City, but prices there are much higher, averaging $2,800. Rates are similar in Joplin at $2,805. Seniors looking for affordable assisted living may want to consider Cape Girardeau, where they can expect to pay $2,538. In Springfield, rates jump to $3,250. St. Louis is even pricier, costing residents $4,100. The most expensive city for assisted living in Missouri is Kansas City, which sits on the Kansas-Missouri border. Here, prices average $4,585.

More Financial Reasons to Consider Assisted Living in Missouri

Low assisted living costs aren’t the only reason for seniors to spend their golden years in Missouri. The state boasts a very low cost of living, with housing, utilities, transportation and groceries costing less than they do in many other states. This can be appealing to retirees on a limited income as well as those who’d like budget-conscious loved ones to live nearby.

Missouri is also moderately tax-friendly for older adults. The state doesn’t tax Social Security benefits for single people with an adjusted gross income of $85,000 or less ($100,000 for married couples). Railroad and military retirement benefits are fully exempt as well. Additionally, for single filers with an adjusted gross income of $25,000 or less, Missouri exempts up to $6,000 of federally taxed income from private retirement plans. Missouri’s sales tax rate is low, too, which can help seniors keep more hard-earned money in their pockets.