University 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.
IndexUniversityMississippiNational
Cost of living index8181100
IndexUniversityMississippiNational
Goods & Services index10287100
Groceries index8393100
Health care index9292100
Housing index5363100
Transportation index8592100
Utilities index8786100
Here we can see a simple outline of the cost of living in University, MS. As you can see, with the average cost of living in University, MS being 81, that puts it equal to the average of Mississippi and 19% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of University, MS, the price of goods and services are 17% higher than the average of Mississippi as well as 2% higher than the nation's average.

Did you know?

  • The cost of living in University is equal to the Mississippi average.
  • The cost of living in University is 19% lower than the national average.
  • The cost of housing in University is 47% 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

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
The salary calculator allows you to compare how much your current salary in University, 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 University, MS, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The University, 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$0$0$0$0
Renters$9,766$814$228$293
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in University, MS, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. University, MS has a median income of about $0 for people who own homes. Based on that number, a person should spend a maximum of $0 on expenses related to housing. Renters have a slightly different median income, which is $9,766. Based on this average, renters should spend no more than $228 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 University, 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

ItemUniversityNational avg.Difference
Haircut $14.00$14.594.1%
Beauty Salon $35.00$34.680.9%
Toothpaste $2.96$2.4719.7%
Shampoo $0.83$1.0218.8%
Movie $10.50$9.876.4%
Bowling $5.50$4.3925.2%

Groceries

ItemUniversityNational avg.Difference
Ground Beef $3.99$4.4810.9%
Fried Chicken $1.07$1.4626.9%
Milk $2.49$2.365.7%
Potatoes $3.11$3.061.6%
Pizza $9.08$9.241.8%
Beer $8.23$8.634.7%

Health Care

ItemUniversityNational avg.Difference
Optometrist $85.00$99.7814.8%
Doctor $96.67$105.038.0%
Dentist $81.67$88.707.9%
Ibuprofen $7.97$9.4115.3%
Lipitor $285.91$298.504.2%

Housing

ItemUniversityNational avg.Difference
Home Price $0.00$175,700.00100.0%
Avg. Mortgage Payment $727.20$1,081.0332.7%
Apartment Rent $489.00$920.0046.8%

Transportation

ItemUniversityNational avg.Difference
Gasoline $1.84$2.0911.8%
Tire Balancing $34.80$45.2923.2%

Utilities

ItemUniversityNational avg.Difference
All Electricity$133.30$170.8022.0%
Phone $28.00$28.260.9%
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.
Water Valley, MS3,34576-24%
Taylor, MS26581-19%
Abbeville, MS51283-17%
Oxford, MS20,20096-4%
University, MS4,33181-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bondurant, IA4,33294-6%
Minersville, PA4,33285-15%
Medina, TX4,33274-26%
Magnolia, NJ4,32911010%
Edgewood, OH4,32877-23%
University, MS4,33181-19%
Source: The University, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.