Cost of Living for Mississippi (2026)
Mississippi (MS) Key Facts
Cost of Living Index
84
National Average Index
100
Median Household Income
$46,000
Approximate Median Rent (1 B R)
$800/month
State Income Tax Rate
4.7%
How This Calculator Works in Mississippi
This cost of living calculator helps you compare salaries between Mississippi and other states or cities by adjusting for purchasing power differences. Enter a salary and a target location to see what equivalent income you would need. It uses Mississippi's cost of living index of 84 relative to the national average of 100 to provide an accurate comparison.
Mississippi Overview
Mississippi has a cost of living index of 84, where 100 represents the national average. Mississippi has the lowest cost of living in the nation, with housing being exceptionally affordable — median home prices are well below $200,000. Groceries, utilities, and healthcare also cost less than the national average. The median household income is $46,000, which has a purchasing power equivalent of approximately $54,762 in an average-cost location.
How Mississippi Compares
Mississippi's cost of living index of 84 compares to Alabama's 89 and Tennessee's 90. Residents in Mississippi benefit from lower costs compared to the national average, meaning salaries stretch further here. The most affordable states like Mississippi (84) cost roughly 0% less than Mississippi, while the most expensive like Hawaii (192) cost 129% more.
| State | Top Rate | Notes |
|---|---|---|
| Alabama | COL Index: 89 | Alabama has a cost of living index of 89 and a median household income of $56,000. It is more expensive than Mississippi. |
| Tennessee | COL Index: 90 | Tennessee has a cost of living index of 90 and a median household income of $56,000. It is more expensive than Mississippi. |
| Louisiana | COL Index: 92 | Louisiana has a cost of living index of 92 and a median household income of $52,000. It is more expensive than Mississippi. |
The national average cost of living index is 100. Mississippi's index of 84 is below the national average. States like Mississippi (84) and West Virginia (84) have the lowest cost of living, while Hawaii (192) and DC (148) have the highest. Mississippi's median household income of $46,000 should be evaluated alongside its cost of living to understand real purchasing power.
Tips for Mississippi Residents
- 1Mississippi has the lowest cost of living in the nation, with housing being exceptionally affordable — median home prices are well below $200,000. Groceries, utilities, and healthcare also cost less than the national average.
- 2Mississippi's median household income of $46,000 has a real purchasing power of about $54,762 when adjusted to the national average. Compare this figure, not the raw salary, when evaluating cross-state moves or job offers.
- 3Mississippi's top state income tax rate of 4.7% further reduces purchasing power beyond what the cost of living index alone shows. Factor in taxes when making state-to-state comparisons.
- 4When comparing job offers between states, adjust salaries by the cost of living index. A $60,000 salary in a state with an index of 90 provides more purchasing power than $70,000 in a state with an index above 105.
- 5Look beyond the state average — costs can vary dramatically within Mississippi between metro areas, suburbs, and rural communities. Research the specific city or county where you would live.