New Hope 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.
IndexNew HopeMississippiNational
Cost of living index9084100
IndexNew HopeMississippiNational
Goods & Services index9093100
Groceries index8794100
Health care index9690100
Housing index9163100
Transportation index9893100
Utilities index8090100

Did you know?

  • The cost of living in New Hope is 7% higher than the Mississippi average.
  • The cost of living in New Hope is 10% lower than the national average.
  • The cost of housing in New Hope is 9% 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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Compare New Hope, MS Cost of living To Other Cities

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$63,375$5,281$1,479$1,901
Renters$61,114$5,093$1,426$1,834

Mississippi Sales Tax

StateGeneral Sales TaxWith Max Surtax
Mississippi7%7.25%

Mississippi Income Tax

StateIncome Tax (Low)Income Tax (High)
Mississippi3%5%

Goods & Services

ItemNew HopeNational 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

ItemNew HopeNational 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

ItemNew HopeNational 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

ItemNew HopeNational avg.Difference
Home Price $143,100.00$175,700.0018.6%
Avg. Mortgage Payment $757.17$1,133.2333.2%
Apartment Rent $1,036.00$920.0012.6%

Transportation

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

Utilities

ItemNew HopeNational 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.
Macedonia, AL14666-34%
Ethelsville, AL8174-26%
Carrollton, AL1,13878-22%
Columbus, MS23,48381-19%
Columbus AFB, MS1,47898-2%
New Hope, MS3,52490-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Broken Bow, NE3,52578-22%
Bethel, WA3,52313030%
Gramercy, LA3,52391-9%
Ridgecrest, FL3,52694-6%
Wills Point, TX3,52789-11%
New Hope, MS3,52490-10%
Source: The New Hope, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.