| Index | Oxford | Mississippi | National |
| Cost of living | 107 | 86 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 96 | 95 | 100 |
| Housing | 133 | 63 | 100 |
| Transportation | 93 | 94 | 100 |
| Utilities | 100 | 98 | 100 |
| Lifestyle & Entertainment | 95 | 94 | 100 |
| Household Items | 98 | 96 | 100 |
| Education & Childcare | 92 | 94 | 100 |
Knowing the cost of living in Oxford 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 Oxford stands at 107, marking it 7% higher than the national average.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Oxford are priced in a manner consistent with other areas. This means that residents of Oxford can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
When it comes to the cost of living in Oxford, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 32.6% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Oxford and this is how they responded. 33% of people said that the cost of living was affordable, with prices decreasing, while 67% of people said that the cost of living was very expensive and prices continue to rise.
Is Oxford 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 Oxford is 45.4% higher than the national average, while the average monthly rent prices are 2.7% higher than average. The affordability of any location can also be influenced by median income levels. Oxford has a median household income of $73,497, which is 9.6% lower than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Oxford, the transportation index stands at 7.1% lower than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Oxford, the groceries index is 1.6% lower than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Oxford, the standard sales tax rate starts at 7%, and the income tax rates commence at 5%.
The Oxford cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| 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 | $133,422 | $11,119 | $3,113 | $4,003 |
| Renters | $43,049 | $3,587 | $1,004 | $1,292 |
| 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. |
| University, MS | 3,833 | 96 | 3.8% |
| Water Valley, MS | 3,392 | 83 | 17.4% |
| Abbeville, MS | 377 | 88 | 11.8% |
| Taylor, MS | 304 | 95 | 4.6% |
| Oxford, MS | 28,503 | 107 | 7.1% |
| City | Population | Cost of Living Index | National Avg. |
| Kirkwood, MO | 28,511 | 117 | 16.6% |
| Big Spring, TX | 28,488 | 88 | 12.3% |
| Milton, MA | 28,525 | 167 | 66.8% |
| Huntley, IL | 28,474 | 112 | 12.0% |
| Wasco, CA | 28,473 | 110 | 10.1% |
| Oxford, MS | 28,503 | 107 | 7.1% |
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