Meridian 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.
IndexMeridianMississippiNational
Cost of living index7981100
IndexMeridianMississippiNational
Goods & Services index8587100
Groceries index9893100
Health care index8992100
Housing index5563100
Transportation index8892100
Utilities index9486100
Displayed above is a general overview of the Meridian, MS cost of living index. The overall cost of living index in Meridian, MS is 79, which is 3% lower than the Mississippi average and 21% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Meridian, MS are 2% lower than the Mississippi average and 15% lower than the national average.

Did you know?

  • The cost of living in Meridian is 3% lower than the Mississippi average.
  • The cost of living in Meridian is 21% lower than the national average.
  • The cost of housing in Meridian 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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Health care index
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The salary calculator allows you to compare how much your current salary in Meridian, MS would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Meridian, MS, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Meridian, MS salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$45,425$3,785$1,060$1,363
Renters$20,498$1,708$478$615
One can approximate the cost of living and the housing affordability in Meridian, MS by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Meridian, MS have a median income of $45,425. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,060 per month to avoid calamity and poverty. The renters in the city have an income of about $20,498, which would make their monthly maximum allowable rental costs $478.

Mississippi Sales Tax

StateGeneral Sales TaxWith Max Surtax
Mississippi7%7.25%

Mississippi Income Tax

StateIncome Tax (Low)Income Tax (High)
Mississippi3%5%
One thing to keep in mind when considering the cost of living in Meridian, MS is the Mississippi sales tax and Mississippi income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Mississippi sales tax rate is 7% and the maximum surtax that can be charged is 7.25%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Mississippi income tax rates range from 3% to 5%.

Goods & Services

ItemMeridianNational avg.Difference
Haircut $13.33$14.598.7%
Beauty Salon $29.40$34.6815.2%
Toothpaste $1.92$2.4722.4%
Shampoo $0.94$1.028.0%
Movie $9.50$9.873.7%
Bowling $4.50$4.392.5%

Groceries

ItemMeridianNational avg.Difference
Ground Beef $4.43$4.481.0%
Fried Chicken $1.27$1.4613.3%
Milk $2.69$2.3614.1%
Potatoes $3.38$3.0610.4%
Pizza $8.00$9.2413.4%
Beer $7.94$8.638.0%

Health Care

ItemMeridianNational avg.Difference
Optometrist $76.60$99.7823.2%
Doctor $87.00$105.0317.2%
Dentist $77.75$88.7012.3%
Ibuprofen $10.13$9.417.6%
Lipitor $281.13$298.505.8%

Housing

ItemMeridianNational avg.Difference
Home Price $85,300.00$175,700.0051.5%
Avg. Mortgage Payment $788.45$1,081.0327.1%
Apartment Rent $654.00$920.0028.9%

Transportation

ItemMeridianNational avg.Difference
Gasoline $1.75$2.0916.5%
Tire Balancing $45.33$45.290.1%

Utilities

ItemMeridianNational avg.Difference
All Electricity$144.91$170.8015.2%
Phone $29.99$28.266.1%
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.
Lauderdale, MS52273-27%
Toomsuba, MS1,02074-26%
Chunky, MS40677-23%
Nellieburg, MS1,43279-21%
Enterprise, MS65380-20%
Meridian, MS40,80979-21%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Sumter, SC40,81995-5%
Quincy, IL40,78283-17%
Streamwood, IL40,74611010%
Covington, KY40,71284-16%
Warren, OH40,92575-25%
Meridian, MS40,80979-21%
Source: The Meridian, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.