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Mississippi Yearly Expenses
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Multi-State
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US-175-AZ
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FAQ
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321.
Mississippi ranked America's cheapest state for 2021. The analysis conducted by CNBC shows that the Magnolia State offers low housing costs, inexpensive energy, and all-around affordable prices.
Average living expenses for a single person The average monthly living expenses for a single person in the USA are $3,189, which is $38,266 per year. The average cost for a family of four is $7,095 per month, which is $85,139 per year.
Deemed the most affordable city in Mississippi, Clarksdale's 17,000 residents are treated to a low cost of living along with a rich musical history, which is brought to life through a variety of attractions and sites, such as the Delta Blues Museum.
With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi's housing costs are the lowest in the nation. The price of a median, single-family home is $140,818. Rent for a two-bedroom apartment costs an average of $777 a month.
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321.
The typical renter in Mississippi spends $762 a month on housing, $261 less than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $600, while the typical rent for a unit with five or more bedrooms is $899.
Mississippi At a housing index of 66.7, Mississippi has the lowest housing costs in the country, with the average home price at $128,000 ad the average rent for a two-bedroom apartment at $795 per month. With the lowest cost of living in the country comes the lowest median household income of $43,567 per year.
Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
