Grenada cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexGrenadaMississippiNational
Cost of living index7984100
IndexGrenadaMississippiNational
Goods & Services index9093100
Groceries index8794100
Health care index9690100
Housing index5563100
Transportation index9893100
Utilities index8090100
A general summary of the cost of living index in Grenada, MS is shown above. Compared to the state average of Mississippi the cost of living index in Grenada, MS is 79, which is 6% lower than the average in Mississippi and compared to the national average it is 21% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Grenada, MS goods and services come in at 4% lower than the average in Mississippi and are 10% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Grenada is 6% lower than the Mississippi average.
  • The cost of living in Grenada is 21% lower than the national average.
  • The cost of housing in Grenada is 45% lower than the national average.
  • Mississippi general sales tax is 37% higher than the national average.
  • Mississippi state income tax is 35% higher than the national average.

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Salary Calculator

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Use the salary calculator to compare your current salary in Grenada, MS to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Grenada, MS, then you would need to earn more income in order to maintain the same standard of living. To use the Grenada, MS salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$41,497$3,458$968$1,245
Renters$14,189$1,182$331$426
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Grenada, MS as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Grenada, MS homeowners, is $41,497. This would allow for a maximum of $968 per month to be spent on housing costs. For renters, the median monthly income is $14,189 which would result in a maximum of $331 to be spent on rental costs.

Mississippi Sales Tax

StateGeneral Sales TaxWith Max Surtax
Mississippi7%7.25%

Mississippi Income Tax

StateIncome Tax (Low)Income Tax (High)
Mississippi3%5%
For those who live in Grenada, MS and want to know what the true cost of living is, they ought to look at both the Mississippi income tax rate and the Mississippi sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Mississippi, the sales tax is 7%, while the most you'll pay in surtax is 7.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Mississippi, the income tax rate ranges between 3% to 5%.

Goods & Services

ItemGrenadaNational avg.Difference
Haircut $14.11$15.569.3%
Beauty Salon $20.55$36.1143.1%
Toothpaste $1.59$2.4735.8%
Shampoo $0.76$0.9621.2%
Movie $9.33$10.137.8%
Bowling $3.75$4.7420.8%

Groceries

ItemGrenadaNational avg.Difference
Ground Beef $3.43$3.9813.9%
Fried Chicken $0.96$1.4132.0%
Milk $1.98$2.064.1%
Potatoes $2.97$2.980.5%
Pizza $9.00$9.475.0%
Beer $7.48$8.7914.9%

Health Care

ItemGrenadaNational avg.Difference
Optometrist $125.00$101.0423.7%
Doctor $84.78$107.4421.1%
Dentist $90.45$90.420.0%
Ibuprofen $8.07$9.2813.1%
Lipitor $436.15$426.502.3%

Housing

ItemGrenadaNational avg.Difference
Home Price $94,800.00$175,700.0046.0%
Avg. Mortgage Payment $757.17$1,133.2333.2%
Apartment Rent $527.00$920.0042.7%

Transportation

ItemGrenadaNational avg.Difference
Gasoline $1.89$1.995.0%
Tire Balancing $47.89$45.764.7%

Utilities

ItemGrenadaNational avg.Difference
All Electricity$122.15$163.8125.4%
Phone $25.01$28.3911.9%
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, StatePopulationCost of Living IndexNational Avg.
Tillatoba, MS25189-11%
Coffeeville, MS96675-25%
Elliott, MS1,17075-25%
Duck Hill, MS92376-24%
Holcomb, MS42780-20%
Grenada, MS12,95179-21%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Joppatowne, MD12,94811414%
Phelan, CA12,9471033%
Cayce, SC12,94496-4%
New Kensington, PA12,95982-18%
Black Forest, CO12,95912727%
Grenada, MS12,95179-21%
Source: The Grenada, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.