Cost Of Living in Lake Providence, LA

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	Lake Providence	Louisiana	National
Cost of living	73	91	100
Goods & Services	88	96	100
Groceries	94	95	100
Health care	103	99	100
Housing	35	81	100
Transportation	88	96	100
Utilities	78	84	100

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Cost Of Living Quick Facts

The cost of living in Lake Providence is 20% lower than the Louisiana average
The cost of living in Lake Providence is 27% lower than the national average
Lake Providence housing is 65% lower than the national average
Louisiana general sales tax is 13% lower than the national average
Louisiana state income tax is 29% lower 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	$30,852	$2,571	$720	$926
Renters	$14,325	$1,194	$334	$430

The affordability of the housing market in Lake Providence, LA as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Lake Providence homeowners, the median income is $30,852. This indicates that a monthly maximum of $720 should be spent by homeowners on all housing related costs. Renters have a median income of $14,325. This indicates that renters would have a maximum of $334 for their rent related monthly costs.

Louisiana Sales Tax

State	General Sales Tax	With Max Surtax
Louisiana	4.45%	11.45%

Louisiana Income Tax

State	Income Tax (Low)	Income Tax (High)
Louisiana	1.85%	4.25%

Goods & Services

Item	Lake Providence	National avg.	Difference
Haircut	$23.22	$24.26	4.3%
Beauty Salon	$46.11	$45.56	1.2%
Toothpaste	$3.52	$3.70	4.9%
Shampoo	$1.33	$1.28	3.9%
Movie	$12.98	$12.13	7.0%
Bowling	$20.00	$18.00	11.1%

Groceries

Item	Lake Providence	National avg.	Difference
Ground Beef	$6.31	$5.84	8.0%
Fried Chicken	$1.67	$1.57	6.2%
Milk	$4.61	$4.67	1.3%
Potatoes	$5.17	$4.93	4.8%
Pizza	$10.99	$12.09	9.1%
Beer	$9.63	$10.41	7.5%

Health Care

Item	Lake Providence	National avg.	Difference
Optometrist	$110.11	$125.68	12.4%
Doctor	$173.89	$135.78	28.1%
Dentist	$128.33	$113.29	13.3%
Ibuprofen	$10.39	$10.65	2.5%
Lipitor	$524.60	$468.60	12.0%

Housing

Item	Lake Providence	National avg.	Difference
Home Price	$42,900.00	$184,700.00	76.8%
Avg. Mortgage Payment	$3,477.84	$2,346.69	48.2%
Apartment Rent	$598.00	$949.00	37.0%

Transportation

Item	Lake Providence	National avg.	Difference
Gasoline	$3.15	$3.46	9.0%
Tire Balancing	$56.44	$59.92	5.8%

Utilities

Item	Lake Providence	National avg.	Difference
All Electricity	$126.52	$193.99	34.8%
Phone	$186.90	$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.
Mayersville, MS	270	72	28.2%
Oak Grove, LA	1,733	76	24.0%
Forest, LA	357	78	22.2%
Kilbourne, LA	274	86	14.2%
Cary, MS	473	98	1.5%
Lake Providence, LA	2,586	73	27.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Hayfork, CA	2,586	111	11.3%
Mountain View CDP, CA	2,585	130	30.1%
Sterling, KS	2,585	85	14.5%
Parsons, TN	2,585	80	20.3%
Fillmore, UT	2,585	95	4.6%
Lake Providence, LA	2,586	73	27.5%

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 Lake Providence, LA