Mississippi Housing Costs 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.
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How much does it cost to live comfortably in Mississippi?
Mississippi has the lowest cost out of living of all 50 states. Mississippi’s cost of living index is 84.8. 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.
How much does it cost the average person to live per month?
Average monthly expenses for one person totaled $3,189, or $38,266 annually.
Why is Mississippi cost of living so low?
Land availability, low rent prices and access to the Gulf and highways for shipping make Mississippi the least expensive place to live in the U.S., Cole said. According to Cole, rent prices in Mississippi are 37 percent lower than the other 49 states.
Is Mississippi affordable?
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.
What’s the minimum wage in Mississippi?
$7.25 per hour
Mississippi. No state minimum wage law. Employers subject to the Fair Labor Standards Act must pay the current Federal minimum wage of $7.25 per hour.
What is the cheapest state to live in 2021?
Cheapest States To Live in 2021
- Mississippi. Cost of Living Index: 84.8 Grocery Cost Index: 93.1.
- Oklahoma. Cost of Living Index: 86.8 Grocery Cost Index: 94.1.
- Arkansas. Cost of Living Index: 87.8 Grocery Cost Index: 90.7.
- Kansas.
- Missouri.
- Georgia.
- Alabama.
- New Mexico.
How can I live on $1000 a month?
How to live on $1,000 a month: Decrease your expenses and increase your income
- Look for areas to decrease your spending as much as possible.
- Focus on smaller areas if you can’t make major life changes.
- Find side hustles that you can commit to for 5-10 hours per week.
What is the average cost of living for one person?
The Average Monthly Expenses of an American Is: $5,102
One consumer unit spends an average of $5,102 every month in 2018. That implies that the average budget for an American is $61,224 and is a 1.9% increase from the previous year.
How much is low income for a single person?
By government standards, “low-income” earners are men and women whose household income is less than double the Federal Poverty Level (FPL). For a single person household, the 2019 FPL was $12,490 a year. That means that a single person making less than $25,000 a year would be considered low income.
What is the cheapest state to buy a house?
- Mississippi. Mississippi is the cheapest state to buy a home in with a median home value of $114,500.
- West Virginia. West Virginia is the second-cheapest state to buy a home.
- Arkansas. Arkansas’s median home value is about $123,300, the third-lowest in the country.
- Oklahoma.
- Kentucky.
- Indiana.
- Alabama.
- Ohio.
What is a good salary in Mississippi?
While ZipRecruiter is seeing salaries as high as $117,844 and as low as $17,763, the majority of salaries within the Average jobs category currently range between $42,891 (25th percentile) to $64,121 (75th percentile) with top earners (90th percentile) making $77,985 annually in Mississippi.
Is Mississippi a poor state?
Mississippi’s median household income is $45,792, the lowest in the country, with a livable wage of $46,000. Additionally, the state has a poverty rate of 19.6%, the highest of any state. Unfortunately, Mississippi also has the highest obesity rate in the country of 40.8% and the lowest life expectancy of 74.5.
What is the cheapest city in Mississippi to live in?
Here’s the most affordable places to buy a home in Mississippi. Does your city make the list?
- Gulf Park Estates, Jackson County.
- Gulf Hills, Jackson County.
- Byram, Hinds County.
- Aberdeen, Monroe County.
- Horn Lake, DeSoto County.
- Madison, Madison County.
- Southaven, DeSoto County.
- Brandon, Rankin County.
What is the cheapest town in Mississippi to live in?
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.
Where does Mississippi rank in cost of living?
Mississippi has the lowest cost of living in the U.S., with a cost of living index of 84.8. Most notably, Mississippi’s housing index is 66.7, the lowest in the country.
What is a good hourly wage in Mississippi?
Mississippi Jobs by Hourly Rate
| Job Title | Range | Average |
|---|---|---|
| Cashier | Range:$7 – $11 | Average:$8 |
| Sales Associate | Range:$8 – $13 | Average:$10 |
| Customer Service Representative (CSR) | Range:$8 – $16 | Average:$12 |
| Administrative Assistant | Range:$11 – $20 | Average:$15 |
What states have $15 minimum wage?
How Many States Have a $15 Minimum Wage?
- Minimum Wage Management. Simplified.
- California. For large employers, the $15 minimum wage rate begins Jan.
- July 1, 2021, Minimum Wage Rates: California Cities.
- Connecticut.
- Delaware.
- Florida.
- Illinois.
- Maryland.
How much does Walmart pay in Mississippi?
Walmart in Mississippi Salaries
| Job Title | Location | Salary |
|---|---|---|
| Cashier salaries – 19 salaries reported | Mississippi | $12/hr |
| Walmart Cashier salaries – 16 salaries reported | Mississippi | $10/hr |
| Department Manager salaries – 15 salaries reported | Mississippi | $15/hr |
| Sales Associate/Cashier salaries – 15 salaries reported | Mississippi | $11/hr |
What is the best state to live in financially?
Full Ranking of All 50 States
| Rank | State | Median Income |
|---|---|---|
| 1 | Wyoming | $40,240 |
| 2 | Washington | $46,100 |
| 3 | Texas | $37,100 |
| 4 | Minnesota | $42,630 |
What is the safest state to live in?
Safest States in the U.S.
- Maine. With a score of 66.02, Maine is the safest U.S. state.
- Vermont. Vermont is the second-safest state in the U.S., with a score of 65.48.
- Minnesota. Minnesota is the third-safest state in the U.S. Minnesota’s total score is 62.42.
- Utah.
- Wyoming.
- Iowa.
- Massachusetts.
- New Hampshire.
