What is the cost of living in MS?

Mississippi is one of the most affordable states for singles. According to research from GOBankingRates, the Magnolia state had the third lowest cost of living in 2023. Mississippi has the lowest cost of living in the country, according to the website. A single adult's basic monthly costs run around $2,309.

Is it expensive to live in MS?

The cost of living in Mississippi is 16% lower than the national average. Housing is 32% lower than the national average, while utilities are 9% lower. When it comes to basic necessities such as food and clothing, groceries are around 10% lower than in the rest of the country, while clothing costs 10% lower.

What is the cost of living in Mississippi 2023?

According to research, the cost of living in Mississippi is 15 percent lower than the national average. As of March 2023, the average home value in Mississippi is estimated to be around $162,292. Mississippi has a flat income tax rate of 5 percent.

Is rent high in Mississippi?

According to data from rent.com, the median rent nationally decreased by 2.09% year-over-year since November 2022. As a result, the national average for rent in November 2023 was $1,966. In Mississippi, median rent is significantly lower at $1,187.

What is the average grocery bill in Mississippi?

(WJTV) – A new analysis from HelpAdvisor revealed that Mississippi is the third most expensive state for groceries. According to the report, the average Mississippi household spends $290.64 per week. The average family in America spends roughly $270.21 at the grocery store per week.

Cost of Living in Brandon Mississippi In 2024: Shockingly Affordable!

What part of Mississippi is the cheapest to live in?

Where is the most affordable place to live in Mississippi? With an average home value of $111,012 and a cost of living almost 14% below the U.S. average, Meridian is the most affordable place to live in Mississippi.

What is the cost of living for a single person in Mississippi?

Mississippi is one of the most affordable states for singles. According to research from GOBankingRates, the Magnolia state had the third lowest cost of living in 2023. Mississippi has the lowest cost of living in the country, according to the website. A single adult's basic monthly costs run around $2,309.

How much do you need to make to live in Mississippi?

In Mississippi, a single person with no children would need $15.42 to live, while two parents with two children would each need to earn $36.28 per hour.

How much is the average house in Mississippi?

$172,965. The average Mississippi home value is $172,965, down 0.5% over the past year and goes to pending in around 26 days.

Why is Mississippi housing so cheap?

Land availability, low rent prices and access to the Gulf and highways for shipping make Mississippi the least expensive place to live in the U.S., Cole said. According to Cole, rent prices in Mississippi are 37 percent lower than the other 49 states.

What is the cheapest state to live in?

The cheapest states to live in are Mississippi, Oklahoma, Kansas, Alabama, Georgia, Missouri, Iowa, Indiana, West Virginia, and Tennessee. Mississippi is the cheapest state to live in in the US, with a cost of living index of 85. The second cheapest state to live in is Oklahoma, with a cost of living index of 85.8.

What is the cheapest state to live in 2023?

What is the most expensive place to live in Mississippi?

A recent report by online lender CashNetUSA ranked a Oxford as the most expensive “neighborhood” in Mississippi. Because of the town's population of 26,000, the report counted all of Oxford as one neighborhood. The report found that the average Oxford home sold for $595,000, according to Zillow.

Why is MS expensive?

Multiple sclerosis (MS) can be an expensive disease, and prescription drugs -- specifically, disease-modifying therapies -- are the largest piece of the cost puzzle.

What is the most livable city in Mississippi?

What is the quality of living in Mississippi?

Mississippi ranked 49th. Health & Safety rankings included data on pediatricians per capita; children's hospitals; quality of public hospitals; infant mortaility rate; life expectancy; natural disasters; school safety; violent crime; and water and air quality. Mississippi ranked dead last.

Is it a good time to buy a house in Mississippi?

A total of 27.8% of homes sold for less than the listing price in Mississippi in September 2023. This shows that agents are currently willing to negotiate and reduce their commission. So, this could be a good time to buy a house in the Magnolia State.

Is land expensive in Mississippi?

The average cost of land in Mississippi

According to the USDA's 2022 data, the average for an acre of Mississippi land is approximately $3,000.

What is a comfortable wage in Mississippi?

Minimum Wage: $7.25

Mississippi has one of the lowest living costs in the country, but it also regularly ranks as one of the worst states to live in. To maintain a living wage, an individual will need to make $14.20 an hour, or $29,542 a year. A family of four requires $19.36 an hour, or $80,523 a year.

Why is rent so high in Mississippi?

Some of the highest average monthly rents nationwide are found in Massachusetts ($3,203) and California ($3,037). “Throughout 2022, Mississippi saw high levels of inbound migration. As a result, prices have risen over 25 percent in the last two years,” Leckie said.

Is Mississippi a low income state?

In terms of poverty, Mississippi is the poorest state in America with a poverty rate of 18.1% in 2021, according to the U.S. Census Bureau – followed by Louisiana at second, and New Mexico at third.

What is the most expensive state to live in?

According to several studies on cost of living, Hawaii is the most expensive U.S. state to live in. Prices are typically double in Hawaii compared to those on the mainland, and the continued rise in inflation is making costs ranging from housing to health care much more expensive.