Mississippi's cost of living index is 84 — 16.0% below the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
84
US avg = 100
vs. National Avg
-16.0%
Less expensive
Median Income
$46,637
Mississippi median household
Equiv. at US Avg
$55,520
Same purchasing power
| CoL Index | 84 | MIT/MERIC composite index (US avg = 100) |
| vs. National | 16.0% | Below average cost |
| Median Household Income | $46,637 | Mississippi median (2023 ACS) |
| National Purchasing Power | $55,520 | Equivalent $ at US avg CoL |
| Overall Category | Low | Qualitative classification |
| Population | 2,961,279 | 2020 US Census |
With a cost of living index of 84, Mississippi is 16% below the national average. Lower costs in Mississippi mean your dollar goes further. A salary of $46,637 in Mississippi provides the equivalent purchasing power of $55,520 in a state at the national average.
Housing is typically the largest driver of cost of living differences between states.Mississippi's median home price of $185,000 is well below the national median of approximately $310,000. Other factors include state income tax (5% top rate in Mississippi), sales tax (7.00% state rate), and local property tax rates (0.8%).
