Summit 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.
IndexSummitMississippiNational
Cost of living index8481100
IndexSummitMississippiNational
Goods & Services index9787100
Groceries index9693100
Health care index9992100
Housing index5563100
Transportation index9292100
Utilities index9886100

Did you know?

  • The cost of living in Summit is 3% higher than the Mississippi average.
  • The cost of living in Summit is 16% lower than the national average.
  • The cost of housing in Summit 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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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$36,464$3,039$851$1,094
Renters$16,321$1,360$381$490

Mississippi Sales Tax

StateGeneral Sales TaxWith Max Surtax
Mississippi7%7.25%

Mississippi Income Tax

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

Goods & Services

ItemSummitNational avg.Difference
Haircut $13.75$14.595.8%
Beauty Salon $37.17$34.687.2%
Toothpaste $2.28$2.477.8%
Shampoo $1.08$1.025.7%
Movie $10.50$9.876.4%
Bowling $3.95$4.3910.1%

Groceries

ItemSummitNational avg.Difference
Ground Beef $4.37$4.482.4%
Fried Chicken $1.29$1.4611.9%
Milk $2.61$2.3610.7%
Potatoes $2.98$3.062.7%
Pizza $8.49$9.248.1%
Beer $7.96$8.637.8%

Health Care

ItemSummitNational avg.Difference
Optometrist $97.00$99.782.8%
Doctor $96.50$105.038.1%
Dentist $86.00$88.703.0%
Ibuprofen $10.44$9.4110.9%
Lipitor $314.93$298.505.5%

Housing

ItemSummitNational avg.Difference
Home Price $87,000.00$175,700.0050.5%
Avg. Mortgage Payment $802.76$1,081.0325.7%
Apartment Rent $633.00$920.0031.2%

Transportation

ItemSummitNational avg.Difference
Gasoline $1.95$2.096.9%
Tire Balancing $39.92$45.2911.8%

Utilities

ItemSummitNational avg.Difference
All Electricity$154.94$170.809.3%
Phone $30.76$28.268.9%
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.
Magnolia, MS1,92681-19%
McComb, MS12,77183-17%
Summit, MS2,10884-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
New Athens, IL2,10889-11%
Kountze, TX2,10879-21%
Churchill, OH2,10877-23%
New Miami, OH2,10784-16%
Hanley Hills, MO2,10987-13%
Summit, MS2,10884-16%
Source: The Summit, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.