Waveland 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.
IndexWavelandMississippiNational
Cost of living index9081100
IndexWavelandMississippiNational
Goods & Services index9887100
Groceries index9493100
Health care index9492100
Housing index7363100
Transportation index9792100
Utilities index9786100
An overview of the general cost of living index for Waveland, MS is displayed above for your reference. Residents in Waveland, MS enjoy a cost of living index of 90. This index is 10% higher than the Mississippi average, and 10% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Waveland, MS, the average cost of goods and services is 13% higher than it is in Mississippi, and it is 2% lower than the national average.

Did you know?

  • The cost of living in Waveland is 10% higher than the Mississippi average.
  • The cost of living in Waveland is 10% lower than the national average.
  • The cost of housing in Waveland is 27% 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 Waveland, MS Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Waveland, 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 Waveland, MS, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Waveland, 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$40,000$3,333$933$1,200
Renters$30,394$2,533$709$912
The affordability of the housing market in Waveland, 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 Waveland, MS homeowners, the median income is $40,000. This indicates that a monthly maximum of $933 should be spent by homeowners on all housing related costs. Renters have a median income of $30,394. This indicates that renters should have a maximum of $709 used for their rent related monthly costs.

Mississippi Sales Tax

StateGeneral Sales TaxWith Max Surtax
Mississippi7%7.25%

Mississippi Income Tax

StateIncome Tax (Low)Income Tax (High)
Mississippi3%5%
When considering the overall cost of living expenses in Waveland, MS, it's important to take into account the sales tax for Mississippi, as well as the rate for income tax in Mississippi. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Mississippi is 7.25%, and the sales tax in the state of Mississippi is 7%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Mississippi starts from 3% and goes up to 5%.

Goods & Services

ItemWavelandNational avg.Difference
Haircut $14.75$14.591.1%
Beauty Salon $41.00$34.6818.2%
Toothpaste $2.15$2.4713.1%
Shampoo $0.99$1.023.1%
Movie $10.13$9.872.7%
Bowling $4.75$4.398.2%

Groceries

ItemWavelandNational avg.Difference
Ground Beef $3.97$4.4811.3%
Fried Chicken $1.31$1.4610.5%
Milk $2.54$2.367.8%
Potatoes $3.28$3.067.1%
Pizza $8.49$9.248.1%
Beer $8.02$8.637.1%

Health Care

ItemWavelandNational avg.Difference
Optometrist $79.88$99.7819.9%
Doctor $88.60$105.0315.6%
Dentist $81.00$88.708.7%
Ibuprofen $10.68$9.4113.5%
Lipitor $317.51$298.506.4%

Housing

ItemWavelandNational avg.Difference
Home Price $123,300.00$175,700.0029.8%
Avg. Mortgage Payment $920.65$1,081.0314.8%
Apartment Rent $726.00$920.0021.1%

Transportation

ItemWavelandNational avg.Difference
Gasoline $1.92$2.098.3%
Tire Balancing $50.50$45.2911.5%

Utilities

ItemWavelandNational avg.Difference
All Electricity$151.97$170.8011.0%
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.
Pearlington, MS1,50485-15%
Kiln, MS1,70990-10%
DeLisle, MS99694-6%
Bay St. Louis, MS10,31394-6%
Long Beach, MS15,22496-4%
Waveland, MS6,46390-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Carbondale, CO6,46414545%
Prospect Park borough, PA6,46411111%
Gladewater, TX6,46190-10%
Metropolis, IL6,46682-18%
Inwood, FL6,46885-15%
Waveland, MS6,46390-10%
Source: The Waveland, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.