Lower cost of living & higher income gives this MS Coast county most buying power in area

Mona Moore
·2 min read

Mississippi is one of the most affordable states for singles.

According to research from GOBankingRates, the Magnolia state had the third lowest cost of living in 2023.

Mississippi has the lowest cost of living in the country, according to the website.

A single adult’s basic monthly costs run around $2,309.

Here are the 10 states with the lowest monthly costs for one adult

  1. Kentucky: $2,275

  2. Arkansas: $2,278

  3. Mississippi: $2,309

  4. Oklahoma: $2,311

  5. West Virginia: $2,313

  6. South Dakota: $2,317

  7. Alabama: $2,318

  8. Iowa: $2,338

  9. Kansas: $2,338

  10. Montana: $2,344

Looking at living expenses, housing, food, taxes, education, childcare, health care and transportation, SmartAsset ranked the cost of living for each county in Mississippi.

The least expensive counties to live were DeSoto, with a median income of $67,038 and cost of living of $45,153; Rankin, with a median income of $65,996 and cost of living of $45,682; and Madison, with a median income of $71,824 and cost of living of $50,123.

On the Coast, Jackson County had the highest median income ($51,657), ranking fifth in the state.

Hancock County had the best purchasing power, coming in at the 10th most favorable county in the state.

SmartAssett determined the purchasing power by weighing the cost of living as a percentage of the per capita income.

Hancock had the highest per capita income relative to the cost of living in the area. Hancock’s median income was $48,119 and the cost of living was listed at $39,002.

Cost of living and median incomes for south MS counties

George

  • COL: $37,825

  • MI: $47,292

Harrison

  • COL: $38,883

  • MI: $47,894

Hancock

  • COL: $39,002

  • MI: $48,119

Jackson

  • COL: $42,270

  • MI: $51,657

Pearl River

  • Cost of living: $38,409

  • Median income: $46,901

Stone

  • COL: $37,904

  • MI: $45,483

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