Cost Of Living in Summit, MS

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	Summit	Mississippi	National
Cost of living	83	83	100
Goods & Services	95	92	100
Groceries	96	97	100
Health care	98	98	100
Housing	60	63	100
Transportation	93	88	100
Utilities	81	86	100

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Cost Of Living Quick Facts

The cost of living in Summit is equal to the Mississippi average
The cost of living in Summit is 17% lower than the national average
Summit housing is 40% 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

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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	$37,961	$3,163	$886	$1,139
Renters	$14,688	$1,224	$343	$441

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	Summit	National avg.	Difference
Haircut	$24.85	$24.26	2.4%
Beauty Salon	$46.92	$45.56	3.0%
Toothpaste	$3.72	$3.70	0.4%
Shampoo	$1.19	$1.28	6.9%
Movie	$11.93	$12.13	1.7%
Bowling	$19.00	$18.00	5.6%

Groceries

Item	Summit	National avg.	Difference
Ground Beef	$5.61	$5.84	3.9%
Fried Chicken	$1.68	$1.57	6.5%
Milk	$4.53	$4.67	3.0%
Potatoes	$5.12	$4.93	3.7%
Pizza	$10.95	$12.09	9.4%
Beer	$9.71	$10.41	6.8%

Health Care

Item	Summit	National avg.	Difference
Optometrist	$95.65	$125.68	23.9%
Doctor	$125.52	$135.78	7.6%
Dentist	$122.39	$113.29	8.0%
Ibuprofen	$10.07	$10.65	5.5%
Lipitor	$463.70	$468.60	1.0%

Housing

Item	Summit	National avg.	Difference
Home Price	$92,300.00	$184,700.00	50.0%
Avg. Mortgage Payment	$1,456.60	$2,346.69	37.9%
Apartment Rent	$800.00	$949.00	15.7%

Transportation

Item	Summit	National avg.	Difference
Gasoline	$3.18	$3.46	8.0%
Tire Balancing	$57.42	$59.92	4.2%

Utilities

Item	Summit	National avg.	Difference
All Electricity	$136.13	$193.99	29.8%
Phone	$187.85	$192.25	2.3%

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.
Magnolia, MS	2,998	78	21.6%
McComb, MS	12,788	83	17.4%
Summit, MS	2,633	83	16.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Brooklyn, IN	2,633	87	12.6%
Marionville, MO	2,633	80	20.4%
Tool, TX	2,633	98	2.4%
Winamac, IN	2,634	80	20.0%
East Newark, NJ	2,634	122	22.4%
Summit, MS	2,633	83	16.7%

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 Summit, MS