A+
22%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
56%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 Clarksdale Mississippi National
Cost of living7883100
Goods & Services9492100
Groceries10097100
Health care8798100
Housing4463100
Transportation8888100
Utilities9086100

An Overview of Cost of Living in Clarksdale, MS

Getting a feel for the cost of living in Clarksdale is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Clarksdale is 78, which is 22% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Clarksdale is highly regarded for its affordability, with everyday expenses well below the national average. Clarksdale is among the select few cities with a cost of living index at least 20% lower than the national average, showcasing its outstanding affordability compared to other areas.

Clarksdale housing costs are 55.9% less than the national average, making this area an affordable place to live. Your net income can be heavily impacted by housing expenses, at times exceeding 30%. Fortunately, this area demonstrates that both homeownership and renting costs are significantly more budget-friendly than in the rest of the country. With such favorable housing affordability, Clarksdale residents can earmark a more manageable portion of their income to housing.

Is Clarksdale Affordable?

Wondering if Clarksdale is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Clarksdale, for example, the median home price is 64.8% lower than what folks pay nationally, and monthly rent is 35.4% lower than the usual rates. Plus, income levels matter too, with Clarksdale boasting a median household income of $30,603, which is 44.7% lower than the national average.

What Factors can Influence the Cost of Living in Clarksdale?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Clarksdale, healthcare costs are 13.5% lower than the national average.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Clarksdale, the transportation index is 11.8% lower than the national average.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Clarksdale starts at 7% and the income tax rates start at 0%.

Where is the Data From?

The Clarksdale cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Clarksdale is 6% lower than the Mississippi average
  • The cost of living in Clarksdale is 22% lower than the national average
  • Clarksdale housing is 56% 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

Most Affordable Places to Live in and Around Clarksdale

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Compare Clarksdale, MS Cost of Living

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      Salary Calculator

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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$42,616$3,551$994$1,279
      Renters$18,812$1,568$439$564
      A good way to judge both the affordability of the housing and the cost of living in Clarksdale 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. Clarksdale has a median income of about $42,616 for people who own homes. Based on that number, a maximum of $994 should be spent on expenses related to housing. Renters have a slightly different median income, which is $18,812. Based on this average, renters should spend no more than $439 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 Clarksdale National avg. Difference
      Haircut $26.94$24.2611.0%
      Beauty Salon $41.92$45.568.0%
      Toothpaste $3.62$3.702.1%
      Shampoo $1.11$1.2813.1%
      Movie $11.99$12.131.2%
      Bowling $13.75$18.0023.6%

      Groceries

      Item Clarksdale National avg. Difference
      Ground Beef $6.10$5.844.5%
      Fried Chicken $1.46$1.577.0%
      Milk $4.71$4.670.8%
      Potatoes $5.15$4.934.3%
      Pizza $10.66$12.0911.8%
      Beer $9.95$10.414.4%

      Health Care

      Item Clarksdale National avg. Difference
      Optometrist $77.39$125.6838.4%
      Doctor $124.94$135.788.0%
      Dentist $91.51$113.2919.2%
      Ibuprofen $10.19$10.654.4%
      Lipitor $518.09$468.6010.6%

      Housing

      Item Clarksdale National avg. Difference
      Home Price $65,100.00$184,700.0064.8%
      Avg. Mortgage Payment $2,240.45$2,346.694.5%
      Apartment Rent $613.00$949.0035.4%

      Transportation

      Item Clarksdale National avg. Difference
      Gasoline $3.14$3.469.3%
      Tire Balancing $55.67$59.927.1%

      Utilities

      Item Clarksdale National avg. Difference
      All Electricity $163.38$193.9915.8%
      Phone $192.72$192.250.2%
      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.
      Duncan, MS320936.8%
      Farrell, MS2927029.5%
      Jonestown, MS9687326.9%
      Coahoma, MS2737426.1%
      Friars Point, MS1,2697524.8%
      Clarksdale, MS15,3427821.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Leduc County, AB15,344n/a 
      Westbury, NY15,33915554.7%
      Centerton, AR15,3451011.4%
      Sainte-Anne-des-Plaines, QC15,334n/a 
      Berkley, MI15,3521066.4%
      Clarksdale, MS15,3427821.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.