Cost Of Living in Booneville, MS

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Booneville	Mississippi	National
Cost of living	81	83	100
Goods & Services	86	92	100
Groceries	96	97	100
Health care	86	98	100
Housing	64	63	100
Transportation	89	88	100
Utilities	85	86	100

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Cost Of Living Quick Facts

The cost of living in Booneville is 3% lower than the Mississippi average
The cost of living in Booneville is 19% lower than the national average
Booneville housing is 36% lower than the national average
Mississippi general sales tax is 37% higher than the national average
Mississippi state income tax is 93% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$59,190	$4,933	$1,381	$1,776
Renters	$12,935	$1,078	$302	$388

A good way to judge both the affordability of the housing and the cost of living in Booneville is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Booneville has a median income of about $59,190 for people who own homes. Based on that number, a maximum of $1,381 should be spent on expenses related to housing. Renters have a slightly different median income, which is $12,935. Based on this average, renters should spend no more than $302 on all rental costs if they want to maintain a non-impoverished standard of living.

Mississippi Sales Tax

State	General Sales Tax	With Max Surtax
Mississippi	7%	7.25%

Mississippi Income Tax

State	Income Tax (Low)	Income Tax (High)
Mississippi	5%	5%

Goods & Services

Item	Booneville	National avg.	Difference
Haircut	$23.45	$24.26	3.4%
Beauty Salon	$26.75	$45.56	41.3%
Toothpaste	$3.71	$3.70	0.3%
Shampoo	$1.06	$1.28	17.2%
Movie	$10.65	$12.13	12.3%
Bowling	$12.50	$18.00	30.6%

Groceries

Item	Booneville	National avg.	Difference
Ground Beef	$6.01	$5.84	2.9%
Fried Chicken	$1.62	$1.57	3.3%
Milk	$4.51	$4.67	3.4%
Potatoes	$5.06	$4.93	2.5%
Pizza	$11.06	$12.09	8.5%
Beer	$9.17	$10.41	12.0%

Health Care

Item	Booneville	National avg.	Difference
Optometrist	$120.17	$125.68	4.4%
Doctor	$78.94	$135.78	41.9%
Dentist	$108.33	$113.29	4.4%
Ibuprofen	$10.05	$10.65	5.7%
Lipitor	$486.28	$468.60	3.8%

Housing

Item	Booneville	National avg.	Difference
Home Price	$127,400.00	$184,700.00	31.0%
Avg. Mortgage Payment	$1,755.69	$2,346.69	25.2%
Apartment Rent	$510.00	$949.00	46.3%

Transportation

Item	Booneville	National avg.	Difference
Gasoline	$3.00	$3.46	13.4%
Tire Balancing	$57.33	$59.92	4.3%

Utilities

Item	Booneville	National avg.	Difference
All Electricity	$148.63	$193.99	23.4%
Phone	$186.87	$192.25	2.8%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Burnsville, MS	843	76	24.5%
Jumpertown, MS	443	75	25.5%
Baldwyn, MS	3,093	76	24.0%
Marietta, MS	208	77	23.5%
Rienzi, MS	277	78	22.4%
Booneville, MS	8,539	81	19.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bennington, VT	8,539	99	1.4%
Montvale, NJ	8,538	170	69.7%
Fallon, NV	8,540	101	1.0%
Wyoming, OH	8,540	120	19.8%
Morrisville, PA	8,540	107	7.3%
Booneville, MS	8,539	81	19.2%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Booneville, MS