West Point, Mississippi Cost Of Living

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A

Overall 22%

Goods & Services 9%

Housing 47%

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	West Point	Mississippi	National
Cost of living	78	82	100
Goods & Services	91	91	100
Groceries	86	92	100
Health care	86	95	100
Housing	53	63	100
Transportation	91	86	100
Utilities	87	91	100

Key findings

The cost of living in West Point is 5% lower than the Mississippi average
The cost of living in West Point is 22% lower than the national average
West Point housing is 47% lower than the national average
Mississippi general sales tax is 37% higher than the national average
Mississippi state income tax is 22% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$41,946	$3,496	$979	$1,259
Renters	$16,613	$1,384	$388	$498

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in West Point, MS, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for West Point homeowners, is $41,946. This would allow for a maximum of $979 per month to be spent on housing costs. For renters, the median monthly income is $16,613 which would result in a maximum of $388 to be spent on rental costs.

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	3%	5%

Goods & Services

Item	West Point	National avg.	Difference
Haircut	$19.56	$20.27	3.5%
Beauty Salon	$21.45	$40.39	46.9%
Toothpaste	$1.75	$2.36	25.8%
Shampoo	$0.91	$1.08	15.8%
Movie	$9.75	$10.99	11.3%
Bowling	$13.72	$15.49	11.4%

Groceries

Item	West Point	National avg.	Difference
Ground Beef	$3.13	$4.30	27.2%
Fried Chicken	$0.94	$1.40	33.1%
Milk	$1.49	$2.20	32.2%
Potatoes	$2.50	$3.22	22.3%
Pizza	$11.08	$10.74	3.2%
Beer	$8.98	$9.60	6.4%

Health Care

Item	West Point	National avg.	Difference
Optometrist	$101.78	$109.73	7.2%
Doctor	$68.89	$118.34	41.8%
Dentist	$86.78	$100.94	14.0%
Ibuprofen	$9.32	$9.93	6.2%
Lipitor	$509.24	$469.53	8.5%

Housing

Item	West Point	National avg.	Difference
Home Price	$86,000.00	$184,700.00	53.4%
Avg. Mortgage Payment	$849.35	$1,229.62	30.9%
Apartment Rent	$631.00	$949.00	33.5%

Transportation

Item	West Point	National avg.	Difference
Gasoline	$2.32	$2.71	14.5%
Tire Balancing	$52.22	$51.86	0.7%

Utilities

Item	West Point	National avg.	Difference
All Electricity	$132.83	$170.84	22.3%
Phone	$184.64	$187.18	1.4%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Mississippi State, MS	4,124	89	10.9%
Artesia, MS	367	73	26.6%
Columbus, MS	24,833	81	19.3%
Hamilton, MS	405	81	18.6%
New Hamilton, MS	523	84	15.9%
West Point, MS	11,042	78	21.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Newport East, RI	11,042	126	25.7%
Webster, TX	11,041	97	2.8%
Riverton, WY	11,044	95	4.8%
Ontario, OR	11,045	88	12.0%
Burkburnett, TX	11,046	88	12.1%
West Point, MS	11,042	78	21.9%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.