West Point, MS Cost Of Living

West Point cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	West Point	Mississippi	National
Cost of living index	75	82	100
Index	West Point	Mississippi	National
Goods & Services index	81	89	100
Groceries index	91	94	100
Health care index	93	91	100
Housing index	53	63	100
Transportation index	95	91	100
Utilities index	74	89	100

An overview of the general cost of living index for West Point, MS is displayed above for your reference. Residents in West Point, MS enjoy a cost of living index of 75. This index is 9% lower than the Mississippi average, and 25% 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 West Point, MS, the average cost of goods and services is 9% lower than it is in Mississippi, and it is 19% lower than the national average.

Did you know?

The cost of living in West Point is 9% lower than the Mississippi average.
The cost of living in West Point is 25% lower than the national average.
The cost of housing in West Point is 47% lower than the national average.
Mississippi general sales tax is 37% higher than the national average.
Mississippi state income tax is 35% higher than the national average.

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Salary Calculator

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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

The salary calculator is used in order to provide a comparison of your current salary in West Point, MS to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to West Point, MS, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the West Point, MS salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

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, MS 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%

For those who live in West Point, MS and want to know what the true cost of living is, they ought to look at both the Mississippi income tax rate and the Mississippi sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Mississippi, the sales tax is 7%, while the most you'll pay in surtax is 7.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Mississippi, the income tax rate ranges between 3% to 5%.

Goods & Services

Item	West Point	National avg.	Difference
Haircut	$13.89	$16.09	13.6%
Beauty Salon	$24.32	$37.33	34.9%
Toothpaste	$1.68	$2.45	31.5%
Shampoo	$0.74	$1.00	25.7%
Movie	$9.50	$10.28	7.6%
Bowling	$4.25	$4.93	13.8%

Groceries

Item	West Point	National avg.	Difference
Ground Beef	$3.48	$3.80	8.6%
Fried Chicken	$1.04	$1.40	25.5%
Milk	$1.98	$2.01	1.5%
Potatoes	$3.20	$3.01	6.3%
Pizza	$9.36	$9.89	5.3%
Beer	$7.99	$8.90	10.2%

Health Care

Item	West Point	National avg.	Difference
Optometrist	$129.00	$102.16	26.3%
Doctor	$81.00	$108.36	25.2%
Dentist	$91.50	$92.53	1.1%
Ibuprofen	$8.18	$9.28	11.8%
Lipitor	$437.11	$425.82	2.7%

Housing

Item	West Point	National avg.	Difference
Home Price	$86,000.00	$184,700.00	53.4%
Avg. Mortgage Payment	$840.45	$1,202.44	30.1%
Apartment Rent	$631.00	$949.00	33.5%

Transportation

Item	West Point	National avg.	Difference
Gasoline	$2.03	$2.24	9.4%
Tire Balancing	$48.00	$46.29	3.7%

Utilities

Item	West Point	National avg.	Difference
All Electricity	$128.77	$165.96	22.4%
Phone	$20.00	$28.68	30.3%

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, State	Population	Cost of Living Index	National Avg.
Mississippi State, MS	4,124	84	-16%
Artesia, MS	367	70	-30%
Columbus, MS	24,833	77	-23%
Hamilton, MS	405	78	-22%
New Hamilton, MS	523	81	-19%
West Point, MS	11,042	75	-25%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Newport East, RI	11,042	126	26%
Webster, TX	11,041	94	-6%
Riverton, WY	11,044	95	-5%
Ontario, OR	11,045	84	-16%
Burkburnett, TX	11,046	79	-21%
West Point, MS	11,042	75	-25%

Source: The West Point, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

West Point, MS Cost of Living