Cost of Living in Yazoo City, MS

An Overview of Cost of Living in Yazoo City, MS

Knowing the cost of living in Yazoo City allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Yazoo City stands at 79, marking it 21% lower than the national average.

According to the latest cost of living report, Yazoo City stands out as one of the most budget-friendly places to reside in the nation. In fact, only a handful of cities boast a cost of living index that is at least 20% below the national average, and Yazoo City proudly belongs to that select group. This underscores the exceptional affordability of this region in comparison to other urban centers.

Housing costs often consume a significant share of your take-home income, often surpassing 30%. Fortunately, Yazoo City distinguishes itself by reporting housing expenses that are 50.7% below the national average. This indicates that both owning a home and renting in this area are notably more budget-friendly compared to the rest of the nation. With such favorable housing affordability, residents of Yazoo City can allocate more of their income to housing, enhancing their financial flexibility.

Is Yazoo City Affordable?

Is Yazoo City 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 Yazoo City, the median home price is 62% lower than what most folks pay across the country, and monthly rent prices are 24.2% lower than the usual rates. Income levels in Yazoo City come in at $24,730, which is 55.3% lower than the national average.

What Factors can Influence the Cost of Living in Yazoo City?

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Yazoo City, the housing index comes in at 50.7% 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 Yazoo City, the transportation index is 19.5% lower than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Yazoo City, the groceries index is 1.4% lower than the national average.

Where is the Data From?

The Yazoo City 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.