Missouri is in the top 10 most affordable places to live amid volatile economic times, according to a recent study -- though another report in the same series placed the state in the middle of the pack for business competitiveness.
CNBC's recent report, which ranked the 10 cheapest states in the U.S. to live in amid rising costs nationwide, pointed to relatively low energy and home costs compared to the rest of the country, citing an average energy bill of $161.78 and pointing to nearby Columbia as the benchmark for average home prices for the state at $382,188.
"Show me a home in Columbia, Kansas City or St. Louis, and I'll show you a bargain," the report read. "Home prices in the Show Me State are roughly half what they are in Boston. So you'll be able to pay your mortgage and still have money in your budget for a night out."
The report also cited an average cost of $2.24 for a gallon of milk in the Show-Me State, as well as an 8.8 percent increase in the Midwest's Consumer Price Index in May, slightly outpacing the national average and weighing down the state's overall score of 45 out of 50 on CNBC's scale.
The comparatively low cost extends to fun as well: The cost of a movie ticket in Mid-Missouri is 20 percent less than it would be in a comparable area in Ohio, the report found.
The report compiled data from the 2021 Average Cost of Living Index by the Council for Community and Economic Research, as well as regional inflation data published by the U.S. Bureau of Labor Statistics.
"With prices of goods and services around the world rising at rates not seen in 40 years, bargain hunting is a national pastime," the report reads. "Companies are hunting too -- and in many cases moving their operations to places where their money, and that of their employees, goes further."
CNBC's report was part of the group's annual look into the best states for business, which looked at various economic indicators and ranked states based on infrastructure, workforce accessibility and other factors. While the Show Me State ranked high for overall cost of living among other states, other parts of the report placed it in the middle for economic development and business competition.
The state ranked No. 25 on the Top States for Business 2022 study, which was based off of 88 metrics, from marketability to technology and innovation. Rankings in each of these fields -- which include the No. 5 spot for statewide expenses amid high inflation rates -- were aggregated to generate the final overall ranking.
Missouri scored the top spot for its low cost of doing business, with its aforementioned low cost of living another highlight in the ranking. Despite those standouts, it ranked No. 49 in terms of workforce, 46 for life, health and inclusion, and 36 for business friendliness per the study's parameters.
The authors pointed to a recently-signed state law that prohibits most mail-in voting and adds a voter ID requirement as a detriment to the state's attractiveness to businesses, while also noting high crime rates. Crime is also a concern of the Missouri Chamber of Commerce and Industry, which recently committed to a plan to combat public safety concerns around the state after most small businesses responding to a survey by the chamber reported crime impacting the state's economy.
"While crime is certainly worse in some places, today's businesses are being impacted everywhere, across nearly every Missouri community," Chamber President Daniel P. Mehan said in a recent opinion piece published to its website.
The Midwest was well-represented on the list of states with an affordable cost of living: Neighboring Arkansas ranked No. 10 with 41 out of a possible 50 points for its economic status, while ninth-ranked Indiana scored 42. Iowa and Tennessee ranked on either side of Missouri at seventh with 43 points and fifth with 46 points, respectively, while Kansas scored 49 points and took the No. 2 spot. The top spot went to Mississippi, which scored the full 50 points.
In terms of states' business competitiveness, North Carolina took the top spot while Mississippi ended up at the bottom. Tennessee and Nebraska were the only Missouri neighbor to crack the top 10 on the business list at No. 6. and No. 7, respectively.
Read the reports in full at cnbc.com/america's-top-states-for-business.