A+
22%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
47%
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 Greenville Mississippi National
Cost of living7883100
Goods & Services8892100
Groceries9497100
Health care10398100
Housing5363100
Transportation8888100
Utilities7886100

An Overview of Cost of Living in Greenville, MS

The cost of living in Greenville affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Greenville is 78, which is 22% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Greenville ranks as one of the most budget-friendly places to reside in the nation, as everyday expenses are far below average. Only a limited number of cities can boast a cost of living index that is at least 20% below the national average, and Greenville proudly falls into this exclusive group. This underscores the remarkable affordability of this region when compared to other cities.

Greenville housing costs are 47% 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, Greenville residents can earmark a more manageable portion of their income to housing.

Everyday basics like clothes, personal care items and entertainment factor into your overall living costs. But here's the good news: in Greenville, these things are 11.9% more affordable than the national average. So, you can get what you need and have fun without emptying your wallet. With these savings, you can stash more money in your savings or put it towards other financial goals, ultimately improving your financial health.

Is Greenville Affordable?

Is Greenville an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Greenville is 56.7% lower than the national average, while the average monthly rent prices are 24.1% lower than average. The affordability of any location can also be influenced by median income levels. Greenville has a median household income of $29,013, which is 47.6% lower than the national average.

What Factors can Influence the Cost of Living in Greenville?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

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 Greenville, healthcare costs are 3.1% higher than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Greenville, the housing index stands at 47% lower than the national average.

Where is the Data From?

The cost of living in Greenville, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Greenville is 7% lower than the Mississippi average
  • The cost of living in Greenville is 22% lower than the national average
  • Greenville housing is 47% 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 Greenville

See all the best places to live around Greenville

Compare Greenville, MS Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$50,212$4,184$1,172$1,507
      Renters$22,890$1,908$534$687
      A good way to judge both the affordability of the housing and the cost of living in Greenville 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. Greenville has a median income of about $50,212 for people who own homes. Based on that number, a maximum of $1,172 should be spent on expenses related to housing. Renters have a slightly different median income, which is $22,890. Based on this average, renters should spend no more than $534 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 Greenville National avg. Difference
      Haircut $23.22$24.264.3%
      Beauty Salon $46.11$45.561.2%
      Toothpaste $3.52$3.704.9%
      Shampoo $1.33$1.283.9%
      Movie $12.98$12.137.0%
      Bowling $20.00$18.0011.1%

      Groceries

      Item Greenville National avg. Difference
      Ground Beef $6.31$5.848.0%
      Fried Chicken $1.67$1.576.2%
      Milk $4.61$4.671.3%
      Potatoes $5.17$4.934.8%
      Pizza $10.99$12.099.1%
      Beer $9.63$10.417.5%

      Health Care

      Item Greenville National avg. Difference
      Optometrist $110.11$125.6812.4%
      Doctor $173.89$135.7828.1%
      Dentist $128.33$113.2913.3%
      Ibuprofen $10.39$10.652.5%
      Lipitor $524.60$468.6012.0%

      Housing

      Item Greenville National avg. Difference
      Home Price $79,900.00$184,700.0056.7%
      Avg. Mortgage Payment $3,477.84$2,346.6948.2%
      Apartment Rent $720.00$949.0024.1%

      Transportation

      Item Greenville National avg. Difference
      Gasoline $3.15$3.469.0%
      Tire Balancing $56.44$59.925.8%

      Utilities

      Item Greenville National avg. Difference
      All Electricity $126.52$193.9934.8%
      Phone $186.90$192.252.8%
      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.
      Arcola, MS2967525.3%
      Metcalfe, MS9537425.6%
      Lake Village, AR2,2587624.5%
      Hollandale, MS1,9807920.7%
      Leland, MS3,8668218.3%
      Greenville, MS29,8547822.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Oceanside, NY29,85015555.2%
      Texarkana, AR29,8648910.6%
      Cornelius, NC29,83612121.4%
      Chamblee, GA29,87411615.7%
      Morristown, TN29,8878514.9%
      Greenville, MS29,8547822.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.