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Everyone wants a home that mixes affordability with comfort and Mississippi does this very well. Families love the Magnolia State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Mississippi that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Mississippi for 2021.
So where is the most expensive place to live in Mississippi? That would be Oxford.
the 2015-2019 American Community Survey for the 62 places in Mississippi with more than 5,000 people.
What's the most expensive place to live in Mississippi? Well, HomeSnacks crunched the numbers and discovered that Oxford is the most expensive place to live in Mississippi.
So hopefully Aberdeen (the cheapest place to live in Mississippi) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Mississippi and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Mississippi For 2021
The median income in Oxford comes in at $44,283 and the median home value is $248,200 for 2021.
The median income in Starkville comes in at $35,048 and the median home value is $176,900 for 2021.
The median income in Bay St. Louis comes in at $39,721 and the median home value is $172,600 for 2021.
The median income in Pass Christian comes in at $47,599 and the median home value is $183,700 for 2021.
The median income in Cleveland comes in at $35,278 and the median home value is $128,300 for 2021.
The median income in Picayune comes in at $30,006 and the median home value is $110,100 for 2021.
The median income in Canton comes in at $33,634 and the median home value is $119,200 for 2021.
The median income in D'iberville comes in at $46,115 and the median home value is $146,500 for 2021.
The median income in Columbus comes in at $36,336 and the median home value is $121,900 for 2021.
The median income in Hattiesburg comes in at $34,735 and the median home value is $113,200 for 2021.
How We Determined The Most Expensive Places To Live In The Magnolia State For 2021
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 2015-2019 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 most 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 highest cost of living in Mississippi according to the data is Oxford. You can download the data here.
Taking A Chunk Out Of Your Paycheck In Mississippi For 2021
Well there you have it, the places in Mississippi that have the highest cost of living, with Oxford ranking as the most expensive city in the Magnolia State.
Here's a look at the most affordable cities in Mississippi according to the data:
- Moss Point
For more Mississippi reading, check out:
- Best Places To Live In Mississippi
- Cheapest Places To Live In Mississippi
- Most Dangerous Cities In Mississippi
- Best Places To Raise A Family In Mississippi
- Safest Places In Mississippi
- Worst Places To Live In Mississippi
Detailed List Of The Most Expensive Cities In Mississippi
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