A+
14%
Overall NAT. AVG.
14%
Goods & Services NAT. AVG.
18%
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 Tupelo Mississippi National
Cost of living8683100
Goods & Services8692100
Groceries9697100
Health care8698100
Housing8263100
Transportation8988100
Utilities8586100

An Overview of Cost of Living in Tupelo, MS

Are you thinking about relocating, but curious about the potential cost of living in Tupelo? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Tupelo stands at 86, making it 14% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Everyday necessities such as clothing, personal hygiene products and recreational activities collectively contribute to the overall cost of living. The favorable news is that in Tupelo, these essential goods and services are priced 14.3% below the national average. This translates to the ability to procure essential items and indulge in leisure activities without depleting one's financial resources excessively. With the resulting savings, individuals have the opportunity to allocate additional funds towards their savings or other financial objectives.

What Do Locals Say About the Cost of Living in Tupelo?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 6 locals to understand their opinions on the cost of living in Tupelo. The results indicated that 83% found it reasonably priced with decreasing prices of goods and services, while 17% viewed it as quite expensive, with increasing prices.

Is Tupelo Affordable?

Is Tupelo affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Tupelo, for instance, where the median home price falls 19.4% lower than the national average, and monthly rent rates are 16.2% lower than usual. Additionally, median income levels contribute to the equation, with Tupelo flaunting a median household income of $54,691, 1.1% lower than the national norm.

What Factors can Influence the Cost of Living in Tupelo?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Tupelo, the transportation index is 10.8% lower than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Tupelo, the prevailing sales tax rate starts at 7%, and income tax rates kick off at 0%.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Where is the Data From?

The cost of living in Tupelo, 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 Tupelo is 3% higher than the Mississippi average
  • The cost of living in Tupelo is 14% lower than the national average
  • Tupelo housing is 18% 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 Tupelo

See all the best places to live around Tupelo

Compare Tupelo, 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$75,004$6,250$1,750$2,250
      Renters$32,272$2,689$753$968
      The affordability of the housing market in Tupelo, MS 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 Tupelo homeowners, the median income is $75,004. This indicates that a monthly maximum of $1,750 should be spent by homeowners on all housing related costs. Renters have a median income of $32,272. This indicates that renters would have a maximum of $753 for their rent related monthly costs.

      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 Tupelo National avg. Difference
      Haircut $23.45$24.263.4%
      Beauty Salon $26.75$45.5641.3%
      Toothpaste $3.71$3.700.3%
      Shampoo $1.06$1.2817.2%
      Movie $10.65$12.1312.3%
      Bowling $12.50$18.0030.6%

      Groceries

      Item Tupelo National avg. Difference
      Ground Beef $6.01$5.842.9%
      Fried Chicken $1.62$1.573.3%
      Milk $4.51$4.673.4%
      Potatoes $5.06$4.932.5%
      Pizza $11.06$12.098.5%
      Beer $9.17$10.4112.0%

      Health Care

      Item Tupelo National avg. Difference
      Optometrist $120.17$125.684.4%
      Doctor $78.94$135.7841.9%
      Dentist $108.33$113.294.4%
      Ibuprofen $10.05$10.655.7%
      Lipitor $486.28$468.603.8%

      Housing

      Item Tupelo National avg. Difference
      Home Price $148,900.00$184,700.0019.4%
      Avg. Mortgage Payment $1,755.69$2,346.6925.2%
      Apartment Rent $795.00$949.0016.2%

      Transportation

      Item Tupelo National avg. Difference
      Gasoline $3.00$3.4613.4%
      Tire Balancing $57.33$59.924.3%

      Utilities

      Item Tupelo National avg. Difference
      All Electricity $148.63$193.9923.4%
      Phone $186.87$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.
      Nettleton, MS2,4557723.5%
      Shannon, MS1,8417822.2%
      Verona, MS3,1857921.4%
      Plantersville, MS7897921.0%
      Mantachie, MS1,7267920.6%
      Tupelo, MS38,2518614.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Olive Branch, MS38,270982.1%
      Waipahu, HI38,27617777.0%
      Stanton, CA38,31714242.2%
      Brighton, CO38,35512121.2%
      Pahrump, NV38,390963.8%
      Tupelo, MS38,2518614.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.