Richland 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.
IndexRichlandMississippiNational
Cost of living index8481100
IndexRichlandMississippiNational
Goods & Services index8587100
Groceries index9893100
Health care index8992100
Housing index7163100
Transportation index8892100
Utilities index9486100
Displayed above is a general overview of the Richland, MS cost of living index. The overall cost of living index in Richland, MS is 84, which is 3% higher than the Mississippi average and 16% 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 Richland, MS are 2% lower than the Mississippi average and 15% lower than the national average.

Did you know?

  • The cost of living in Richland is 3% higher than the Mississippi average.
  • The cost of living in Richland is 16% lower than the national average.
  • The cost of housing in Richland is 29% 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 income in Richland, MS to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Richland, MS, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Richland, MS salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$58,878$4,907$1,374$1,767
Renters$41,098$3,425$959$1,233
One can approximate the cost of living and the housing affordability in Richland, 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 Richland, MS have a median income of $58,878. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,374 per month to avoid calamity and poverty. The renters in the city have an income of about $41,098, which would make their monthly maximum allowable rental costs $959.

Mississippi Sales Tax

StateGeneral Sales TaxWith Max Surtax
Mississippi7%7.25%

Mississippi Income Tax

StateIncome Tax (Low)Income Tax (High)
Mississippi3%5%
The Mississippi sales tax and Mississippi income tax rates should definitely be considered when determining the overall cost of living in Richland, MS. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Mississippi sales tax is 7% and the maximum surtax is 7.25%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Mississippi income tax rates range from 3% to 5%.

Goods & Services

ItemRichlandNational 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

ItemRichlandNational 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

ItemRichlandNational 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

ItemRichlandNational avg.Difference
Home Price $112,300.00$175,700.0036.1%
Avg. Mortgage Payment $788.45$1,081.0327.1%
Apartment Rent $814.00$920.0011.5%

Transportation

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

Utilities

ItemRichlandNational 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.
Robinhood, MS1,40576-24%
Raymond, MS2,16079-21%
Braxton, MS26679-21%
Jackson, MS173,63181-19%
Cleary, MS1,07082-18%
Richland, MS7,01284-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lower Allen, PA7,0121000%
Lake Lorraine, FL7,01198-2%
Idabel, OK7,01586-14%
Manhattan, IL7,0171055%
Milton, PA7,01791-9%
Richland, MS7,01284-16%
Source: The Richland, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.