Cost Of Living In Petal, MS

Petal 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.
Index	Petal	Mississippi	National
Cost of living index	86	84	100
Index	Petal	Mississippi	National
Goods & Services index	84	93	100
Groceries index	98	94	100
Health care index	90	90	100
Housing index	80	63	100
Transportation index	91	93	100
Utilities index	91	90	100

The above illustration supplies generalized information for the Petal, MS cost of living index. Compared to other cities in Mississippi and cities across the country, the cost of living index in Petal, MS is 86, which is 3% higher than the Mississippi average and 14% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Petal, MS are 10% lower than the average for Mississippi and 17% lower than the rest of the country.

Did you know?

The cost of living in Petal is 3% higher than the Mississippi average.
The cost of living in Petal is 14% lower than the national average.
The cost of housing in Petal is 20% 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.

Find Real Estate Listings In Petal

New Real Estate Listings In Petal

Compare Petal, MS Cost of living To Other Cities

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

Use the salary calculator to compare your current salary in Petal, 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 Petal, MS, then you would need to earn more income in order to maintain the same standard of living. To use the Petal, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$60,598	$5,050	$1,414	$1,818
Renters	$29,922	$2,494	$698	$898

The affordability of the housing market in Petal, MS as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Petal, MS homeowners, the median income is $60,598. This indicates that a monthly maximum of $1,414 should be spent by homeowners on all housing related costs. Renters have a median income of $29,922. This indicates that renters should have a maximum of $698 used 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	3%	5%

For those who live in Petal, 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

Item	Petal	National avg.	Difference
Haircut	$14.66	$15.56	5.8%
Beauty Salon	$31.80	$36.11	11.9%
Toothpaste	$2.47	$2.47	0.2%
Shampoo	$0.87	$0.96	9.8%
Movie	$9.84	$10.13	2.9%
Bowling	$4.50	$4.74	5.0%

Groceries

Item	Petal	National avg.	Difference
Ground Beef	$4.02	$3.98	0.9%
Fried Chicken	$1.05	$1.41	25.1%
Milk	$2.30	$2.06	11.4%
Potatoes	$3.25	$2.98	9.1%
Pizza	$8.40	$9.47	11.3%
Beer	$10.09	$8.79	14.8%

Health Care

Item	Petal	National avg.	Difference
Optometrist	$79.33	$101.04	21.5%
Doctor	$85.42	$107.44	20.5%
Dentist	$84.75	$90.42	6.3%
Ibuprofen	$9.43	$9.28	1.6%
Lipitor	$397.84	$426.50	6.7%

Housing

Item	Petal	National avg.	Difference
Home Price	$129,400.00	$175,700.00	26.4%
Avg. Mortgage Payment	$862.28	$1,133.23	23.9%
Apartment Rent	$873.00	$920.00	5.1%

Transportation

Item	Petal	National avg.	Difference
Gasoline	$1.76	$1.99	11.4%
Tire Balancing	$44.53	$45.76	2.7%

Utilities

Item	Petal	National avg.	Difference
All Electricity	$137.14	$163.81	16.3%
Phone	$28.65	$28.39	0.9%

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, State	Population	Cost of Living Index	National Avg.
New Augusta, MS	763	76	-24%
Rawls Springs, MS	1,084	79	-21%
Glendale, MS	1,428	79	-21%
Purvis, MS	1,990	80	-20%
Hattiesburg, MS	46,629	82	-18%
Petal, MS	10,675	86	-14%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Farmersville, CA	10,675	98	-2%
Waynesboro, PA	10,673	95	-5%
Burr Ridge, IL	10,678	173	73%
Bedford Heights, OH	10,680	92	-8%
Smyrna, DE	10,681	105	5%
Petal, MS	10,675	86	-14%

Source: The Petal, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Petal, MS Cost of Living