An Overview of Cost of Living in Hattiesburg, MS
Are you thinking about relocating, but curious about the potential cost of living in Hattiesburg? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Hattiesburg stands at 87, making it 13% 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.
What Do Locals Say About the Cost of Living in Hattiesburg?
The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Hattiesburg. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 60% found it budget-friendly with decreasing prices, while 40% said it's simply not affordable as prices have continued to rise.
Is Hattiesburg Affordable?
Is Hattiesburg affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Hattiesburg, for instance, where the median home price falls 40.2% lower than the national average, and monthly rent rates are 14.9% lower than usual. Additionally, median income levels contribute to the equation, with Hattiesburg flaunting a median household income of $36,111, 34.7% lower than the national norm.
What Factors can Influence the Cost of Living in Hattiesburg?
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Hattiesburg, the healthcare costs are 6.3% higher than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Hattiesburg, the housing index is 32.6% lower than the national average.
Where is the Data From?
The cost of living data in Hattiesburg displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
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