A+
9%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
11%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 Byram Mississippi National
Cost of living9183100
Goods & Services9592100
Groceries9997100
Health care10298100
Housing8963100
Transportation8188100
Utilities8386100

An Overview of Cost of Living in Byram, MS

Knowing the cost of living in Byram 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 Byram stands at 91, marking it 9% lower than the national average.

In Byram, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Byram will resemble that of an average city, contributing to a manageable cost of living.

Is Byram Affordable?

Wondering if Byram is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Byram, for example, the median home price is 23% lower than what folks pay nationally, and monthly rent is 15.9% higher than the usual rates. Plus, income levels matter too, with Byram boasting a median household income of $67,318, which is 21.7% higher than the national average.

What Factors can Influence the Cost of Living in Byram?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Byram, the baseline sales tax rate begins at 7%, and income tax rates start at 0%.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Byram, the housing index is 11.3% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Byram, healthcare costs are 1.6% higher than the national average.

Where is the Data From?

The cost of living data in Byram displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Byram is 9% higher than the Mississippi average
  • The cost of living in Byram is 9% lower than the national average
  • Byram housing is 11% 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 Byram

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Compare Byram, MS Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$77,956$6,496$1,819$2,339
      Renters$51,076$4,256$1,192$1,532
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Byram, MS, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Byram, homeowners have a median income of $77,956. Using that number, a maximum of $1,819 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $51,076, which means there is a maximum of $1,192 to be spent on the costs of renting a home or apartment.

      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%

      Goods & Services

      Item Byram National avg. Difference
      Haircut $22.50$24.267.3%
      Beauty Salon $41.67$45.568.6%
      Toothpaste $3.62$3.702.1%
      Shampoo $1.24$1.283.2%
      Movie $13.59$12.1312.0%
      Bowling $20.00$18.0011.1%

      Groceries

      Item Byram National avg. Difference
      Ground Beef $6.19$5.846.0%
      Fried Chicken $1.67$1.576.4%
      Milk $4.64$4.670.8%
      Potatoes $5.10$4.933.3%
      Pizza $12.66$12.094.7%
      Beer $9.66$10.417.2%

      Health Care

      Item Byram National avg. Difference
      Optometrist $106.25$125.6815.5%
      Doctor $134.71$135.780.8%
      Dentist $121.33$113.297.1%
      Ibuprofen $10.31$10.653.2%
      Lipitor $495.95$468.605.8%

      Housing

      Item Byram National avg. Difference
      Home Price $142,300.00$184,700.0023.0%
      Avg. Mortgage Payment $1,763.83$2,346.6924.8%
      Apartment Rent $1,100.00$949.0015.9%

      Transportation

      Item Byram National avg. Difference
      Gasoline $3.02$3.4612.7%
      Tire Balancing $38.33$59.9236.0%

      Utilities

      Item Byram National avg. Difference
      All Electricity $141.59$193.9927.0%
      Phone $187.62$192.252.4%
      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.
      Bolton, MS8687524.7%
      Crystal Springs, MS4,7538019.6%
      Jackson, MS163,7788317.0%
      Cleary, MS1,8418316.7%
      Raymond, MS2,0078416.2%
      Byram, MS11,519918.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Los Alamitos, CA11,52118383.4%
      Lac Ste. Anne County, AB11,522n/a 
      Bacliff, TX11,513955.4%
      Branson, MO11,5269010.3%
      Hamilton Square, NJ11,52612322.7%
      Byram, MS11,519918.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.