What’s the cost of living in Kansas?
Wondering about the cost of living in Kansas? This article summarizes everything you need to know, from tax rates to healthcare costs.
When considering a move to a new state, understanding the cost of living is vital for effective budgeting and financial planning. If you’re planning to move to Kansas but want an idea of what life will be like once you get there, here are some current statistics related to the cost of living in the state.
The average cost of living in Kansas
According to data gathered in 2022 from MERIC, the Missouri Economic Research and Information Center, it has one of the country's lowest living costs. In fact, the sunflower state ranks 3rd in a list of the lowest to the highest states, just behind Mississippi and Oklahoma, with the lowest cost of living.
Estimates put the cost of living in Kansas at 12% lower than the national average.
Housing costs in Kansas
As of March 2023, the average home value in Kansas is estimated to be around $210,742, according to the Zillow Home Value Index as of March 2023.
It’s important to note that housing prices can significantly differ across various regions within the state. Here are some examples of typical home prices based on Zillow's data:
| City | Average Home Value |
|---|---|
| Wichita | $188,765 |
| Overland Park | $425,487 |
| Kansas City | $176,879 |
| Olathe | $385,943 |
| Topeka | $174,315 |
The monthly rental price ranges across the state for those considering renting in Kansas. The average price of rental apartments nationwide is $1,702, while the monthly rent in Kansas City, KS, is $1,007.
In addition, understanding these costs in relation to the average salary in Kansas is crucial for realistic budgeting.
Utility costs in Kansas
Utility costs play a significant role in Kansas's overall cost of living. According to Forbes, the average monthly cost is around $430.
| Utility | Average cost in Kansas |
|---|---|
| Energy bill | $115.53 |
| Monthly water bill | $27 |
| Internet | $20 |
| Natural gas | $106 |
| Phone bill | $114 |
| Streaming | $48.25 |
Grocery and food costs in Kansas
When it comes to groceries and food costs, Kansas generally aligns with prices found elsewhere in the United States.
According to Zippia, those in Witchita pay over $261 on average each month. This is one of the lowest grocery bills in the country—just above Manchester, New Hampshire.
According to 2021 data from the Bureau of Labor Statistics, the average spending on food at home is $5,259 annually, or about $438 per month for US households.
Transportation costs in Kansas
Transportation costs, including gas prices and vehicle maintenance, impact Kansas's overall cost of living.
According to MIT, a single adult with no children can expect to pay upwards of $5,300.
Gas prices in Kansas are typically in and around the national average. At the time of writing, Kansas was just below the national average. These prices fluctuate over time.
It is also worth noting that prices can vary across different regions within the state.
Healthcare costs in Kansas
Understanding healthcare expenses is crucial when considering the cost of living.
The specific healthcare costs in Kansas can vary depending on factors such as insurance coverage and individual circumstances. Therefore, it is advisable to research and consult with healthcare providers and insurance companies to obtain accurate cost estimates.
MIT estimates:
| Scenario | Annual healthcare expenditure |
|---|---|
| One adult, no children | $2,937 |
| One adult, one child | $8,427 |
| One adult, two children | $8,437 |
| Two adults (one working), no children | $6,601 |
| Two adults (one working), one child | $8,437 |
| Two adults (one working), two children | $8,362 |
| Two adults (two working), no children | $6,601 |
| Two adults (two working), one child | $8,437 |
| Two adults (two working), two children | $8,362 |
Childcare costs in Kansas
Families in Kansas currently pay around $8,166 per year for childcare for one child. This figure doubles for two children.
However, it's important to note that this figure can vary across the state.
Taxation in Kansas
Kansas’s state income tax rates range between 3.1% and 5.7%.
Here's a comparison of income tax rates among some neighboring states:
| State | Income Tax Rates |
|---|---|
| Kansas | 3.1% - 5.7% (Marginal tax rates) |
| Missouri | 1.5% - 5.4% (Marginal tax rates) |
| Nebraska | 2.46% - 6.84% (Marginal tax rates) |
| Colorado | Flat rate of 4.55% |
| Oklahoma | 0.5% - 5.0% (Marginal tax rates) |
The sales tax rate in Kansas is currently 6.5%. However, it's important to note that sales tax rates can vary locally, as some cities and counties in Kansas have additional local sales taxes. These additional local taxes can range from 0.5% to 3.5%, resulting in a combined sales tax rate that can be higher than the statewide rate.
The bottom line
The amount of money needed to live comfortably in Kansas can vary depending on location, lifestyle, family size, and personal preferences. However, as the most expensive state in the US, you may need more than you first think.
It's essential to consider these factors, along with personal circumstances and preferences, when evaluating the cost of living in Kansas. In addition, consulting with a financial advisor can provide valuable insights and assistance in managing expenses and financial planning.
Whether you’re retirement planning or considering relocating to chase a new career, Unbiased can assist you with your move's financial ins and outs. Find the right advisor for your needs today.
Writer
Charlie Barton is a writer at Unbiased. He has been writing about personal finance and investing since 2017, with extensive knowledge of platforms and products. Charlie has a first-class degree from the London School of Economics.