A+
16%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
35%
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 Canton Mississippi National
Cost of living8483100
Goods & Services9592100
Groceries9997100
Health care10298100
Housing6563100
Transportation8188100
Utilities8386100

An Overview of Cost of Living in Canton, MS

Are you thinking about relocating, but curious about the potential cost of living in Canton? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Canton stands at 84, making it 16% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Is Canton Affordable?

Wondering if Canton 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 Canton, for example, the median home price is 42.4% lower than what folks pay nationally, and monthly rent is 16.6% lower than the usual rates. Plus, income levels matter too, with Canton boasting a median household income of $32,158, which is 41.9% lower than the national average.

What Factors can Influence the Cost of Living in Canton?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Canton, the housing index is 34.7% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Canton comes in at 17.5% lower than the national average.

Where is the Data From?

The Canton cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Canton is 1% higher than the Mississippi average
  • The cost of living in Canton is 16% lower than the national average
  • Canton housing is 35% 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 Canton

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Compare Canton, MS Cost of Living

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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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$40,906$3,409$954$1,227
      Renters$29,062$2,422$678$872
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Canton, 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 Canton homeowners, is $40,906. This would allow for a maximum of $954 per month to be spent on housing costs. For renters, the median monthly income is $29,062 which would result in a maximum of $678 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 5% 5%

      Goods & Services

      Item Canton 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 Canton 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 Canton 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 Canton National avg. Difference
      Home Price $106,300.00$184,700.0042.4%
      Avg. Mortgage Payment $1,763.83$2,346.6924.8%
      Apartment Rent $791.00$949.0016.6%

      Transportation

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

      Utilities

      Item Canton 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.
      Ridgeland, MS24,194973.3%
      Madison, MS25,65011010.2%
      Canton, MS11,9438415.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Macedonia, OH11,9421022.3%
      Elon, NC11,94111212.3%
      Les Îles-de-la-Madeleine, QC11,947n/a 
      Blackfoot, ID11,936919.5%
      St. Peter, MN11,934972.9%
      Canton, MS11,9438415.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.