An overview of the general cost of living index for Lake Providence, LA is displayed above for your reference. Residents in Lake Providence, LA enjoy a cost of living index of 77. This index is 16% lower than the Louisiana average, and 23% 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 Lake Providence, LA, the average cost of goods and services is 1% lower than it is in Louisiana, and it is 4% lower than the national average.