Cost of Living

Bethany, MO: How does the cost of living in Bethany & Northwest Missouri Compare to other Missouri Cities and to over 300 cities nationwide?  That was the question addressed by Jason T. White, assistant professor of economics at Northwest Missouri State University in Maryville and Josh Mason, a Northwest MBA student.  Assisting in the collection of data for the study were the economic development directors in Bethany, Jeff Ellis and in Trenton, Rick Childers.  In some instance, the results validated the population general perception, while other results were more of a surprise.

Each quarter, the American Chamber of Commerce Research Association conduct a cost of living index survey of just over 300 cities nation wide with a population of at least 30,000.  The national average cost of living is established through this cross section.  However, because of population, many communities are too small to formally participate in the survey. 

We applied the identical methodology and approach that ACCRA uses for is survey, White said.  We gathered several hundred prices for 76 different consumer items in Bethany, Maryville and Trenton during the third quarter of 2002 and then calculated an index value using the AACRA weighting scheme.

The study clearly shows that Bethany & Northwest Missouri is a great place for Industry to consider locating.  It also gives local businesses an idea of where they need to be in terms of salary minimums to make sure they are doing justice to their employees, White said. 

So how did Bethany, the rest of the Nation? (click here for detailed information) The average for the State of Missouri was 93.7% of the national average.  Bethany's composite average of 94.9%, in fact every Missouri City that participated in the national survey, except Kansas City and St. Louis, were below the national cost of living average.  

For more information about the study contact Tony Stonecypher City Administrator (660) 425-3511.