Cost Of Living in Florence, MS

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	Florence	Mississippi	National
Cost of living	95	83	100
Goods & Services	95	92	100
Groceries	99	97	100
Health care	102	98	100
Housing	102	63	100
Transportation	81	88	100
Utilities	83	86	100

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Cost Of Living Quick Facts

The cost of living in Florence is 14% higher than the Mississippi average
The cost of living in Florence is 5% lower than the national average
Florence housing is 2% higher 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

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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	$69,857	$5,821	$1,630	$2,096
Renters	$0	$0	$0	$0

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Florence, 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 Florence homeowners, is $69,857. This would allow for a maximum of $1,630 per month to be spent on housing costs. For renters, the median monthly income is $0 which would result in a maximum of $0 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	Florence	National avg.	Difference
Haircut	$22.50	$24.26	7.3%
Beauty Salon	$41.67	$45.56	8.6%
Toothpaste	$3.62	$3.70	2.1%
Shampoo	$1.24	$1.28	3.2%
Movie	$13.59	$12.13	12.0%
Bowling	$20.00	$18.00	11.1%

Groceries

Item	Florence	National avg.	Difference
Ground Beef	$6.19	$5.84	6.0%
Fried Chicken	$1.67	$1.57	6.4%
Milk	$4.64	$4.67	0.8%
Potatoes	$5.10	$4.93	3.3%
Pizza	$12.66	$12.09	4.7%
Beer	$9.66	$10.41	7.2%

Health Care

Item	Florence	National avg.	Difference
Optometrist	$106.25	$125.68	15.5%
Doctor	$134.71	$135.78	0.8%
Dentist	$121.33	$113.29	7.1%
Ibuprofen	$10.31	$10.65	3.2%
Lipitor	$495.95	$468.60	5.8%

Housing

Item	Florence	National avg.	Difference
Home Price	$162,500.00	$184,700.00	12.0%
Avg. Mortgage Payment	$1,763.83	$2,346.69	24.8%
Apartment Rent	$1,276.00	$949.00	34.5%

Transportation

Item	Florence	National avg.	Difference
Gasoline	$3.02	$3.46	12.7%
Tire Balancing	$38.33	$59.92	36.0%

Utilities

Item	Florence	National avg.	Difference
All Electricity	$141.59	$193.99	27.0%
Phone	$187.62	$192.25	2.4%

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.
Robinhood, MS	1,295	79	21.4%
D'Lo, MS	600	80	20.1%
Crystal Springs, MS	4,753	80	19.6%
Mendenhall, MS	3,003	81	18.8%
Braxton, MS	190	82	17.6%
Florence, MS	4,446	95	4.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Millsboro, DE	4,448	107	7.3%
Saukville, WI	4,448	101	1.3%
Winfield, AL	4,443	81	18.7%
Beecher, IL	4,443	97	3.2%
Lebanon, IL	4,443	89	11.1%
Florence, MS	4,446	95	4.9%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Florence, MS