A wise sage once said:
“She works hard for the money…”
And these places in Mississippi definitely treat her right.
You see, these are the cities and places in Mississippi where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the Magnolia State, then the cost of living should play a role in the decision.
So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 62 largest places in Mississippi, we were left with this set of the best value for your money.
So where is the cheapest place to live in Mississippi? That would be Aberdeen.
So listen up Oxford (the most expensive place in Mississippi) as we explain how we created this ranking. You could learn some things from the rest of the state.
And if you already knew these places were cheap, check out some more reading about Mississippi and the cheapest places in the country:
How We Determined The Most Affordable Places To Live In The Magnolia State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Mississippi to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 62 places in Mississippi that have more than 5,000 people.
The place with the lowest cost of living in Mississippi according to the data is Aberdeen.
The 10 Cheapest Places To Live In Mississippi For 2019
Aberdeen is the county seat of Monroe County, Mississippi, United States. As of the 2010 census, the population was 5,612.
The median income in Aberdeen comes in at $36,544 and the median home value is $70,800 for 2019.
Clarksdale is a city in Coahoma County, Mississippi, United States, and seat of the county.
The median income in Clarksdale comes in at $29,643 and the median home value is $61,200 for 2019.
Pontotoc is a city in, and the county seat of, Pontotoc County, Mississippi, located to the west of the much larger city of Tupelo. The population was 5,625 at the 2010 census.
The median income in Pontotoc comes in at $46,305 and the median home value is $118,900 for 2019.
The median income in Ripley comes in at $36,442 and the median home value is $96,400 for 2019.
The median income in Moss Point comes in at $39,705 and the median home value is $89,200 for 2019.
Petal is a city in Forrest County, Mississippi, along the Leaf River. It is part of the Hattiesburg, Mississippi Metropolitan Statistical Area. The population was 10,454 in the 2010 census.
The median income in Petal comes in at $56,467 and the median home value is $137,600 for 2019.
Holly Springs is a city in and county seat of Marshall County, Mississippi, United States at the border with southern Tennessee.
The median income in Holly Springs comes in at $28,886 and the median home value is $77,700 for 2019.
Brandon is a city in Rankin County, Mississippi. The population was 21,705 at the 2010 census. It is the county seat of Rankin County. Brandon is part of the Jackson Metropolitan Statistical Area and located east of the state capital.
The median income in Brandon comes in at $72,529 and the median home value is $169,900 for 2019.
Southaven is a city in DeSoto County, Mississippi, United States. It is a suburb of Memphis, Tennessee, and a principal city in the Memphis metropolitan area. The 2010 census reported a population of 48,982, making Southaven the third-largest city in Mississippi. Southaven is traversed from north to south by the I-55/I-69 freeway. The city’s name derives from the fact that Southaven is located south of Whitehaven, a neighborhood in Memphis.
The median income in Southaven comes in at $60,093 and the median home value is $139,400 for 2019.
Laurel is a city in and the second county seat of Jones County, Mississippi, United States. As of the 2010 census, the city had a total population of 18,548. It is located northeast of Ellisville, the first county seat, which contains the first county courthouse. Laurel has the second county courthouse, as there are two judicial districts in Jones County.
The median income in Laurel comes in at $30,010 and the median home value is $78,900 for 2019.
There You Have It Mr. Or Mrs. Mississippi Cheapskate
If you’re looking at the cost of living numbers in Mississippi, this is an accurate list of the most affordable places to live in mississippi for 2019.
Here’s a look at the most expensive cities in Mississippi according to the data:
- Bay St. Louis
For more Mississippi reading, check out: