A+
3%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
7%
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 Ridgeland Mississippi National
Cost of living9783100
Goods & Services9592100
Groceries9997100
Health care10298100
Housing10763100
Transportation8188100
Utilities8386100

An Overview of Cost of Living in Ridgeland, MS

The cost of living in Ridgeland 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 Ridgeland is 97, which is 3% 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 Ridgeland closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Ridgeland can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Ridgeland Affordable?

Is Ridgeland 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 Ridgeland, the median home price is 6% higher than what most folks pay across the country, and monthly rent prices are 11.1% higher than the usual rates. Income levels in Ridgeland come in at $60,296, which is 9% higher than the national average.

What Factors can Influence the Cost of Living in Ridgeland?

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Ridgeland, the transportation index stands at 19.5% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Ridgeland comes in at 17.5% lower than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The Ridgeland 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 Ridgeland is 16% higher than the Mississippi average
  • The cost of living in Ridgeland is 3% lower than the national average
  • Ridgeland housing is 7% higher 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 Ridgeland

See all the best places to live around Ridgeland

Compare Ridgeland, 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$86,168$7,181$2,010$2,585
      Renters$47,633$3,969$1,111$1,429
      A good way to judge both the affordability of the housing and the cost of living in Ridgeland 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. Ridgeland has a median income of about $86,168 for people who own homes. Based on that number, a maximum of $2,010 should be spent on expenses related to housing. Renters have a slightly different median income, which is $47,633. Based on this average, renters should spend no more than $1,111 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 Ridgeland 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 Ridgeland 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 Ridgeland 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 Ridgeland National avg. Difference
      Home Price $195,700.00$184,700.006.0%
      Avg. Mortgage Payment $1,763.83$2,346.6924.8%
      Apartment Rent $1,054.00$949.0011.1%

      Transportation

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

      Utilities

      Item Ridgeland 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.
      Kearney Park, MS1,1677921.4%
      Jackson, MS163,7788317.0%
      Canton, MS11,9438415.9%
      Richland, MS7,2038613.6%
      Flora, MS2,3538812.0%
      Ridgeland, MS24,194973.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fort Dodge, IA24,1688712.9%
      Loma Linda, CA24,23913434.4%
      North Potomac, MD24,14617171.1%
      San Fernando, CA24,24414847.7%
      San Benito, TX24,2597327.0%
      Ridgeland, MS24,194973.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.