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Cost of living in Mississippi

Everyday prices in Mississippi run 13.0% below the US average, the 2nd lowest of 51 states and DC.

By Sol Lakein. Updated November 2026.

Mississippi next to New York and the US

Longer bar = costs more.1,4,2,3
MississippiUnited StatesNew York metro

How affordable is Mississippi?

Rent and home prices next to what households earn.6
$57,840
Typical household incomeA year · 51st highest of 51
21%
Of income goes to rentA year of 2-bed rent ($1,016/mo) against median income ($57,840). 36th lowest of 51.
5.1
Years of income to buy a home$292,250 median listing against $57,840 income. 29th lowest of 50.

Are people moving to Mississippi?

917 more people left Mississippi for other states than arrived between July 2024 and July 2025 (Census Bureau estimates).

Where Americans are moving5

Metro areas in Mississippi

Cheapest first. Tap one for its full cost of living.1,4,2
Price levelUS averageShorter bar = cheaper, longer = pricier
  1. 1Jackson, MS11% cheaper than average
    2-bed rent
    $1,190
    Typical home
    $279,950
    Mortgage
    $1,538/mo

Mississippi next to its neighbors

The states that border Mississippi, on the same measures. The number is each state's national rank on everyday prices.1,4,2
  1. 1Arkansas13% cheaper than average
    2-bed rent
    $1,014
    Typical home
    $318,743
    Net moves
    +14,475
  2. 2MississippiThis state13% cheaper than average
    2-bed rent
    $1,016
    Typical home
    $292,250
    Net moves
    -917
  3. 5Louisiana12% cheaper than average
    2-bed rent
    $1,105
    Typical home
    $270,000
    Net moves
    -14,387
  4. 7Alabama11% cheaper than average
    2-bed rent
    $1,103
    Typical home
    $325,000
    Net moves
    +23,358
  5. 14Tennessee8% cheaper than average
    2-bed rent
    $1,306
    Typical home
    $429,450
    Net moves
    +42,389

Mississippi by the numbers

Every figure on this page, as tables

Mississippi next to New York and the US

PlacePrice levelHousingTypical homeMonthly payment2-bedroom rent
Mississippi87.056.5$292,250$1,606$1,016
United States100.0100.0$419,250$2,304$1,563
New York metro112.6148.6$742,000$4,078$1,997

Metro areas in Mississippi

MetroPrice level2-bedroom rentTypical home
Jackson, MS89.0$1,190$279,950

Mississippi next to its neighbors

StatePrice level2-bedroom rentTypical homeNet moves from other states
Mississippi87.0$1,016$292,250-917
Alabama88.8$1,103$325,000+23,358
Arkansas86.9$1,014$318,743+14,475
Louisiana88.2$1,105$270,000-14,387
Tennessee91.9$1,306$429,450+42,389

Net moves from other states

Year (July to July)Net moves from other states
2019-20-14,205
2020-21-5,392
2021-22-6,015
2022-23-3,356
2023-24-5,106
2024-25-917

States with a similar cost of living to Mississippi

Keep comparing

Mississippi cost of living: questions people ask

What is the cost of living in Mississippi?

Everyday prices in Mississippi run 13.0% below the US average, the 2nd lowest of 51 states and DC (BEA, 2024). Housing costs, rent included, index at 56.5 against a US average of 100. The median listed home is $292,250 (Realtor.com, September 2026), about $1,606 a month in principal and interest. The median 2-bedroom rent is $1,016 a month, utilities included (Census, 2025). A $150,000 salary in New York buys the same as $115,872 in Mississippi.

Is Mississippi cheap or expensive to live in?

Cheaper than average. Mississippi's regional price parity is 87.0, so the same basket of goods, services and rent costs 13.0% less than the US average (BEA, 2024).

How much does a house cost in Mississippi?

The median listed home in Mississippi is $292,250 as of September 2026 (Realtor.com via FRED), against $419,250 nationally. That ranks 5th lowest of 50. With 20% down at 7.32%, principal and interest run about $1,606 a month.

How much is rent in Mississippi?

The median gross rent for a 2-bedroom in Mississippi is $1,016 a month, including utilities the renter pays, against $1,563 for the US (Census American Community Survey, 2025).

What salary in Mississippi equals $150,000 in New York?

About $115,872, using BEA regional price parities for Mississippi (87.0) and the New York metro (112.6), 2024.

Are people moving to Mississippi?

917 more people left Mississippi for other states than arrived between July 2024 and July 2025 (Census Bureau estimates).

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Notes on the numbers
  1. 1Everyday prices, housing costs and price levels: BEA regional price parities via FRED, 2024, where the US average is 100. In ranked lists, 1 is the cheapest.
  2. 2Homes: the typical home is the median listing price, Realtor.com via FRED, September 2026.
  3. 3Mortgage: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA.
  4. 4Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units, including utilities.
  5. 5Net moves: US Census Bureau population estimates, net domestic migration, July to July.
  6. 6Affordability: our arithmetic on Census median gross rent (2025), Census median household income (2025) and Realtor.com median listing price (September 2026). Rank 1 is the most affordable.
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