| Index | Laurel | Mississippi | National |
| Cost of living | 84 | 86 | 100 |
| Groceries | 96 | 97 | 100 |
| Health care | 93 | 95 | 100 |
| Housing | 58 | 63 | 100 |
| Transportation | 96 | 94 | 100 |
| Utilities | 96 | 98 | 100 |
| Lifestyle & Entertainment | 94 | 94 | 100 |
| Household Items | 94 | 96 | 100 |
| Education & Childcare | 93 | 94 | 100 |
Knowing the cost of living in Laurel allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Laurel stands at 84, marking it 16% lower than the national average.
Housing expenses can absorb a substantial portion of your net income, sometimes exceeding 30%. Thankfully, Laurel 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 Laurel can allocate a more reasonable portion of their income to housing, allowing for greater financial flexibility.
The real experts on a city are its residents. That's why we reached out to 8 locals to get their views on the cost of living in Laurel. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 38% found it budget-friendly with decreasing prices, while 63% said it's simply not affordable as prices have continued to rise.
Is Laurel 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 Laurel, for instance, where the median home price falls 47.8% lower than the national average, and monthly rent rates are 27% lower than usual. Additionally, median income levels contribute to the equation, with Laurel flaunting a median household income of $51,203, 37% lower than the national norm.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Laurel, the groceries index is 4.2% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Laurel, healthcare costs are 7.1% 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 Laurel, the general sales tax rate starts at 7%, and income tax rates begin at 5%.
The cost of living data for Laurel 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.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $66,955 | $5,580 | $1,562 | $2,009 |
| Renters | $26,062 | $2,172 | $608 | $782 |
| 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. |
| Sharon, MS | 1,849 | 79 | 20.6% |
| Ellisville, MS | 4,819 | 83 | 16.6% |
| Heidelberg, MS | 931 | 84 | 16.0% |
| Sandersville, MS | 684 | 86 | 13.9% |
| Soso, MS | 485 | 87 | 12.8% |
| Laurel, MS | 18,971 | 84 | 16.2% |
| City | Population | Cost of Living Index | National Avg. |
| Brownwood, TX | 18,977 | 87 | 12.8% |
| Hyattsville, MD | 18,985 | 130 | 29.9% |
| Milledgeville, GA | 18,956 | 93 | 7.2% |
| East Massapequa, NY | 18,953 | 149 | 48.6% |
| Eloy, AZ | 18,990 | 92 | 8.3% |
| Laurel, MS | 18,971 | 84 | 16.2% |
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