Mississippi cost of living
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Moving to a new state can seem like a big risk, which makes solid research and preparation a must. Once you figure out the place that best fits your family’s needs, you can focus on building new relationships and learning your way around.
If you’re considering a move to Mississippi, understanding the cost of living in the state is crucial for a smooth transition.
The median rent in Mississippi is $1,369.59, versus the national median rent of $1,529.01.
Jump to insightResidents in Mississippi spend $290.64 weekly on food at home and $114.39 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $2.94 in Mississippi.
Jump to insightRecent data shows that employees in Mississippi pay $1,468 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in Mississippi
According to recent data from Zillow, the median rent in Mississippi is $1,369.59, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in Mississippi broken down by home size. As of publishing, one-bedroom apartments in Mississippi had a median cost of $707 per month, and the two-bedroom median cost was $821 per month. Three- and four-bedroom homes had median costs of $987 and $1,093, respectively.
As of publishing, the median home price in Mississippi is $243,000, according to Redfin. The U.S. median home price is $436,000.
The median home price in the Jackson metro area was $219,100 in the first quarter of 2024, according to the National Association of Realtors (NAR). The same report showed the median home price in the Gulfport-Biloxi-Pascagoula metro was $210,800.
Mississippi ranks No. 36 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 0.67%.
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Food costs in Mississippi
According to recent census data, the average spent on food to prepare at home each week in Mississippi is $290.64, compared with the U.S. average of $270.21 at the time. Mississippi residents spend an average of $114.39 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in Mississippi
According to recent data from AAA, the average price per gallon of regular gas in Mississippi is $2.94, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in Mississippi is $1,173, versus the national average of $1,189.50.
Health care costs in Mississippi
The most recent KFF data shows that, on average, employer-sponsored health insurance cost Mississippi employees $1,468 annually, with employers covering the remaining $5,258 of the $6,726 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in Mississippi
According to the most recent data from the Energy Information Administration, the average monthly electric bill in Mississippi is $147.25, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in Mississippi costs $12.08 per thousand cubic feet, compared with $13.25 nationally.
FAQ
How does the cost of living in Mississippi compare with the national average?
Overall, the cost of living in Mississippi is below the national average.
What are the most expensive places to live in Mississippi?
Jackson is the most expensive metro area to live in in Mississippi — but the median home price there in the first quarter of 2024 was still 43.7% lower than the national median, according to data from the National Association of Realtors. Some of the most expensive homes in the state are in Madison, a Jackson suburb; Oxford, home to the University of Mississippi; and Pass Christian, located on the coast 10 miles from Gulfport.
Is Mississippi a good place to retire?
Yes. We ranked Jackson No. 8 on our 2024 list of best cities for retirement.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, “Housing Data.” Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
