A+
15%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
30%
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 Corinth Mississippi National
Cost of living8583100
Goods & Services9092100
Groceries9497100
Health care8398100
Housing7063100
Transportation9088100
Utilities9586100

An Overview of Cost of Living in Corinth, MS

Understanding the cost of living in Corinth can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Corinth cost of living index is 85, which is 15% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Is Corinth Affordable?

Is Corinth affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Corinth, the median home price is 27.6% lower than the national average and monthly rent prices are 35.9% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Corinth boasting a median household income of $33,981, 38.6% lower than the national average.

What Factors can Influence the Cost of Living in Corinth?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Corinth, the transportation index is 10.5% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Corinth, healthcare costs are 17.2% 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 Corinth starts at 7% and the income tax rates start at 0%.

Where is the Data From?

The Corinth cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 Corinth is 2% higher than the Mississippi average
  • The cost of living in Corinth is 15% lower than the national average
  • Corinth housing is 30% 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 Corinth

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Compare Corinth, 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$51,652$4,304$1,205$1,550
      Renters$19,993$1,666$466$600
      A good way to judge both the affordability of the housing and the cost of living in Corinth 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. Corinth has a median income of about $51,652 for people who own homes. Based on that number, a maximum of $1,205 should be spent on expenses related to housing. Renters have a slightly different median income, which is $19,993. Based on this average, renters should spend no more than $466 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 Corinth National avg. Difference
      Haircut $17.13$24.2629.4%
      Beauty Salon $32.58$45.5628.5%
      Toothpaste $3.74$3.700.9%
      Shampoo $1.04$1.2819.0%
      Movie $13.50$12.1311.2%
      Bowling $17.50$18.002.8%

      Groceries

      Item Corinth National avg. Difference
      Ground Beef $5.67$5.842.9%
      Fried Chicken $1.67$1.576.2%
      Milk $4.49$4.674.0%
      Potatoes $5.06$4.932.5%
      Pizza $9.73$12.0919.5%
      Beer $10.23$10.411.7%

      Health Care

      Item Corinth National avg. Difference
      Optometrist $80.87$125.6835.7%
      Doctor $90.50$135.7833.3%
      Dentist $94.28$113.2916.8%
      Ibuprofen $10.04$10.655.8%
      Lipitor $519.93$468.6011.0%

      Housing

      Item Corinth National avg. Difference
      Home Price $133,700.00$184,700.0027.6%
      Avg. Mortgage Payment $1,703.27$2,346.6927.4%
      Apartment Rent $608.00$949.0035.9%

      Transportation

      Item Corinth National avg. Difference
      Gasoline $3.14$3.469.4%
      Tire Balancing $52.00$59.9213.2%

      Utilities

      Item Corinth National avg. Difference
      All Electricity $180.93$193.996.7%
      Phone $186.22$192.253.1%
      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, MS8437624.5%
      Stantonville, TN3928020.3%
      Ramer, TN3638020.2%
      Rienzi, MS2777822.4%
      Eastview, TN8148119.4%
      Corinth, MS14,5448515.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pembroke, ON14,541n/a 
      Tenafly, NJ14,550209108.7%
      Gantt, SC14,5569010.0%
      Saraland, AL14,561927.5%
      Pewaukee, WI14,56112221.8%
      Corinth, MS14,5448515.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.