Cost of Living in New Albany, MS

Get 300+ Local Insights for Any Address in New Albany, MS

Get Access to 300+ Local Data Points
A+
13%
Overall NAT. AVG.
2%
Groceries NAT. AVG.
33%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index New Albany Mississippi National
Cost of living8786100
Groceries9897100
Health care9395100
Housing6763100
Transportation9594100
Utilities9998100
Lifestyle & Entertainment9394100
Household Items9896100
Education & Childcare9694100
Does this Area Fit Your Budget? Local Insights Report
  • Know the community before you call it home
  • Compare multiple areas side by side
  • Access over 300 data points for any address
Local Insights Report

Homes For Sale In New Albany, MS

property for sale

Tract 1C County Road 54

New Albany, MS
property for sale

691 Mississippi 15

New Albany, MS
property for sale

1566 County Road 86

New Albany, MS
property for sale

County Road 155

, MS

Cost Of Living Quick Facts

  • The cost of living in New Albany is 2% higher than the Mississippi average
  • The cost of living in New Albany is 13% lower than the national average
  • New Albany housing is 33% lower than the national average
  • Mississippi general sales tax is 37% higher than the national average
  • Mississippi state income tax is 93% higher than the national average

Most Affordable Places to Live in and Around New Albany

See all the best places to live around New Albany

Compare New Albany, MS Cost of Living

City Image
    City Default Image
      vs
      How would you rate the cost of living in New Albany?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in New Albany?
      Write a review to give others more information about this area.
      See all New Albany poll results

      The best places in Mississippi

      Here are the best places to live in MississippiMost Dangerous States In The USCheck out the 10 most dangerous cities in MississippiSafest Cities In The US
      Best Places in Mississippi

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$82,915$6,910$1,935$2,488
      Renters$44,213$3,684$1,032$1,327
      To approximate the cost of living and the housing affordability in New Albany, MS, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in New Albany have a median income of $82,915. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,935 per month to avoid calamity and poverty. The renters in the city have an income of about $44,213, which would make their monthly maximum allowable rental costs $1,032.

      Mississippi Sales Tax

      State General Sales Tax With Max Surtax
      Mississippi 7% 7.25%

      Mississippi Income Tax

      State Income Tax (Low) Income Tax (High)
      Mississippi 5% 5%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Blue Mountain, MS1,2617921.0%
      Hickory Flat, MS6918020.3%
      Dumas, MS4178416.2%
      Ecru, MS1,3708515.3%
      Myrtle, MS5298613.8%
      New Albany, MS9,0398712.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Palm Beach, FL9,038230130.3%
      McFarland, WI9,04011010.1%
      Frankfort Square, IL9,03711110.7%
      Clinton, MO9,0378614.0%
      Andalusia, AL9,0418614.2%
      New Albany, MS9,0398712.7%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
      General
      For Professionals
      Follow Us
      AV on Twitter AV on Facebook
      © AreaVibes Inc. 2010-2026