| Index | Grenada | Mississippi | National |
| Cost of living | 85 | 86 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 93 | 95 | 100 |
| Housing | 58 | 63 | 100 |
| Transportation | 95 | 94 | 100 |
| Utilities | 99 | 98 | 100 |
| Lifestyle & Entertainment | 93 | 94 | 100 |
| Household Items | 98 | 96 | 100 |
| Education & Childcare | 96 | 94 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Grenada? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Grenada stands at 85, making it 15% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Housing expenses can absorb a substantial portion of your net income, sometimes exceeding 30%. Thankfully, Grenada stands out by reporting housing costs that are 41.6% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more budget-friendly compared to the rest of the country. With such favorable housing affordability, residents of Grenada can allocate a more reasonable portion of their income to housing, allowing for greater financial flexibility.
Is Grenada an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Grenada is 46.8% lower than the national average, while the average monthly rent prices are 29.6% lower than average. The affordability of any location can also be influenced by median income levels. Grenada has a median household income of $46,933, which is 42.3% lower than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Grenada, the transportation index is 4.6% lower than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Grenada, the general sales tax rate starts at 7%, and income tax rates begin at 5%.
The cost of living data for Grenada shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $62,228 | $5,186 | $1,452 | $1,867 |
| Renters | $37,627 | $3,136 | $878 | $1,129 |
| State | General Sales Tax | With Max Surtax |
| Mississippi | 7% | 7.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Mississippi | 5% | 5% |
| City | Population | Cost of Living Index | National Avg. |
| Tillatoba, MS | 50 | 96 | 3.8% |
| Elliott, MS | 786 | 79 | 21.5% |
| Duck Hill, MS | 1,014 | 81 | 18.9% |
| Coffeeville, MS | 1,037 | 83 | 17.1% |
| Holcomb, MS | 344 | 92 | 7.5% |
| Grenada, MS | 12,751 | 85 | 15.1% |
| City | Population | Cost of Living Index | National Avg. |
| Lakeland Village, CA | 12,752 | 132 | 32.5% |
| Centralia, IL | 12,756 | 84 | 16.2% |
| Fairfax Station, VA | 12,757 | 171 | 71.4% |
| Markham, IL | 12,759 | 94 | 5.7% |
| Goldenrod, FL | 12,742 | 112 | 11.9% |
| Grenada, MS | 12,751 | 85 | 15.1% |
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