What is the cost of living in New Albany, MS?
According to the most recent data on the cost of living, New Albany has an overall cost of living index of 85, which is 0.8x lower than the national index of 100.
Compared to Mississippi, New Albany has a cost of living index that's 1.0x lower than Mississippi's index of 88.
The standard of living in New Albany ranks as #16 most affordable out of the 67 places we measured in Mississippi. By definition, that implies New Albany ranks as the #51 most expensive place in the Magnolia State.
For more reading on life in New Albany, check out:
New Albany Cost Of Living Vs. Mississippi
Six factors go into calculating the cost of living index in New Albany. Here is how it fares on each of the criteria:
The Services index in New Albany is 98.
The Groceries index in New Albany is 91.
The Health index in New Albany is 69.
The Housing index in New Albany is 93.
The Transportation index in New Albany is 101.
The Utilities index in New Albany is 92.
| Living Expense | New Albany | Mississippi | National Average |
|---|---|---|---|
| Overall | 85 | 88 | 100 |
| Services | 98 | 99 | 100 |
| Groceries | 91 | 97 | 100 |
| Health | 69 | 63 | 100 |
| Housing | 93 | 94 | 100 |
| Transportation | 101 | 97 | 100 |
| Utilities | 92 | 93 | 100 |
New Albany Cost Of Living Compared To Mississippi Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Mississippi, check out:
- Most Expensive Cities In Mississippi
- Most Affordable Cities In Mississippi
- Average Rent In Mississippi
Source: Cost-of-living index 2026, normalized to US average = 100
New Albany, MS Housing Cost Breakdown
Housing swings affordability the most between places in Mississippi, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in New Albany is $199,590.
The Median Rent in New Albany is $973.
The Median Income in New Albany is $51,332.
The Home Value To Income in New Albany is 3.9x.
The Rent To Monthly Income in New Albany is 0.23x.
| Statistic | New Albany | Mississippi | United States |
|---|---|---|---|
| Median Home Value | $199,590 | $192,906 | $332,700 |
| Median Rent | $973 | $954 | $1,413 |
| Median Income | $51,332 | $56,447 | $80,734 |
| Home Value To Income | 3.9x | 3.4x | 4.1x |
| Rent To Monthly Income | 0.23x | 0.2x | 0.21x |
New Albany, MS Costs By Category
Detailed New Albany Services costs vs. Mississippi
| Item | New Albany | Mississippi |
|---|---|---|
| Shampoo | $1.06 | $1.28 |
| Movie | $10.65 | $12.13 |
| Bowling | $12.5 | $18 |
| Haircut | $23.45 | $24.26 |
| Beauty Salon | $26.75 | $45.56 |
Detailed New Albany Groceries costs vs. Mississippi
| Item | New Albany | Mississippi |
|---|---|---|
| Ground Beef | $6.01 | $5.84 |
| Fried Chicken | $1.62 | $1.57 |
| Milk | $4.51 | $4.67 |
| Potatoes | $5.06 | $4.93 |
| Pizza | $11.06 | $12.09 |
| Beer | $9.17 | $10.41 |
| Toothpaste | $3.71 | $3.7 |
Detailed New Albany Health costs vs. Mississippi
| Item | New Albany | Mississippi |
|---|---|---|
| Optometrist | $120.17 | $125.68 |
| Doctor | $78.94 | $135.78 |
| Dentist | $108.33 | $113.29 |
Detailed New Albany Transportation costs vs. Mississippi
| Item | New Albany | Mississippi |
|---|---|---|
| Gasoline | $3.0 | $3.46 |
| Tire Balancing | $57.33 | $59.92 |
Detailed New Albany Utilities costs vs. Mississippi
| Item | New Albany | Mississippi |
|---|---|---|
| All Electricity | $148.63 | $193.99 |
| Phone | $186.87 | $192.25 |
New Albany SnackAbility
Cost Of Living In Cities Around New Albany
The cost of living varies in the cities and towns around New Albany. Here's a quick look at the cost of living in the most populous nearby places:
Tupelo, MS has a cost of living index of 92, 1.1x New Albany.
Oxford, MS has a cost of living index of 107, 1.3x New Albany.
Corinth, MS has a cost of living index of 89, 1.0x New Albany.
| City | Population | Cost Of Living | Vs. New Albany |
|---|---|---|---|
| Tupelo, MS | 37,791 | 92 | 1.1x |
| Oxford, MS | 26,411 | 107 | 1.3x |
| Corinth, MS | 14,323 | 89 | 1.0x |
| Booneville, MS | 9,246 | 89 | 1.0x |
| Holly Springs, MS | 6,704 | 84 | 1.0x |
| Amory, MS | 6,500 | 86 | 1.0x |
| Pontotoc, MS | 5,806 | 88 | 1.0x |
| Ripley, MS | 5,377 | 86 | 1.0x |
