A+
12%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
20%
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 Pearl Mississippi National
Cost of living8883100
Goods & Services9592100
Groceries9997100
Health care10298100
Housing8063100
Transportation8188100
Utilities8386100

An Overview of Cost of Living in Pearl, MS

Getting a feel for the cost of living in Pearl 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 Pearl is 88, which is 12% 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.

Is Pearl Affordable?

Is Pearl an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Pearl, the median home price is 28.7% lower than what most folks pay across the country, and monthly rent prices are 0.4% higher than the usual rates. Income levels in Pearl come in at $50,614, which is 8.5% lower than the national average.

What Factors can Influence the Cost of Living in Pearl?

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 Pearl, healthcare costs are 1.6% higher than the national average.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Pearl, is 20% 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 Pearl, the transportation index is 19.5% lower than the national average.

Where is the Data From?

The Pearl 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 Pearl is 6% higher than the Mississippi average
  • The cost of living in Pearl is 12% lower than the national average
  • Pearl housing is 20% 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 Pearl

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Compare Pearl, 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$62,139$5,178$1,450$1,864
      Renters$41,306$3,442$964$1,239
      A good way to judge both the affordability of the housing and the cost of living in Pearl 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. Pearl has a median income of about $62,139 for people who own homes. Based on that number, a maximum of $1,450 should be spent on expenses related to housing. Renters have a slightly different median income, which is $41,306. Based on this average, renters should spend no more than $964 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 Pearl National avg. Difference
      Haircut $22.50$24.267.3%
      Beauty Salon $41.67$45.568.6%
      Toothpaste $3.62$3.702.1%
      Shampoo $1.24$1.283.2%
      Movie $13.59$12.1312.0%
      Bowling $20.00$18.0011.1%

      Groceries

      Item Pearl National avg. Difference
      Ground Beef $6.19$5.846.0%
      Fried Chicken $1.67$1.576.4%
      Milk $4.64$4.670.8%
      Potatoes $5.10$4.933.3%
      Pizza $12.66$12.094.7%
      Beer $9.66$10.417.2%

      Health Care

      Item Pearl National avg. Difference
      Optometrist $106.25$125.6815.5%
      Doctor $134.71$135.780.8%
      Dentist $121.33$113.297.1%
      Ibuprofen $10.31$10.653.2%
      Lipitor $495.95$468.605.8%

      Housing

      Item Pearl National avg. Difference
      Home Price $131,600.00$184,700.0028.7%
      Avg. Mortgage Payment $1,763.83$2,346.6924.8%
      Apartment Rent $953.00$949.000.4%

      Transportation

      Item Pearl National avg. Difference
      Gasoline $3.02$3.4612.7%
      Tire Balancing $38.33$59.9236.0%

      Utilities

      Item Pearl National avg. Difference
      All Electricity $141.59$193.9927.0%
      Phone $187.62$192.252.4%
      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.
      Robinhood, MS1,2957921.4%
      Jackson, MS163,7788317.0%
      Cleary, MS1,8418316.7%
      Richland, MS7,2038613.6%
      Terry, MS2,0608712.7%
      Pearl, MS26,4628811.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Batavia, IL26,47911717.4%
      Alton, IL26,4908317.4%
      Conception Bay South, NL26,497n/a 
      Garden City, KS26,403936.7%
      Paramus, NJ26,40316868.1%
      Pearl, MS26,4628811.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.