A+
2%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
9%
Housing NAT. AVG.
Search Homes for Sale
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 Olive Branch Mississippi National
Cost of living9883100
Goods & Services9492100
Groceries10097100
Health care8798100
Housing10963100
Transportation8888100
Utilities9086100

An Overview of Cost of Living in Olive Branch, MS

Are you thinking about relocating, but curious about the potential cost of living in Olive Branch? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Olive Branch stands at 98, making it 2% 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.

The cost of living in Olive Branch closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Olive Branch can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Olive Branch Affordable?

Is Olive Branch an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Olive Branch is 2.2% higher than the national average, while the average monthly rent prices are 24.6% higher than average. The affordability of any location can also be influenced by median income levels. Olive Branch has a median household income of $78,939, which is 42.7% higher than the national average.

What Factors can Influence the Cost of Living in Olive Branch?

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Olive Branch, the utilities index is 10.3% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Olive Branch, the groceries index registers 0.2% higher than the national average.

Where is the Data From?

The Olive Branch 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

New Real Estate Listings in Olive Branch Area
Search Homes for Sale in Olive Branch, MS

Cost Of Living Quick Facts

  • The cost of living in Olive Branch is 18% higher than the Mississippi average
  • The cost of living in Olive Branch is 2% lower than the national average
  • Olive Branch housing is 9% 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

Most Affordable Places to Live in and Around Olive Branch

See all the best places to live around Olive Branch

Compare Olive Branch, MS Cost of Living

      vs
      How would you rate the cost of living in Olive Branch?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Olive Branch?
      Write a review to give others more information about this area.
      See all Olive Branch poll results

      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$86,510$7,209$2,018$2,596
      Renters$63,060$5,255$1,471$1,892
      To approximate the cost of living and the housing affordability in Olive Branch, MS, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Olive Branch have a median income of $86,510. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,018 per month to avoid calamity and poverty. The renters in the city have an income of about $63,060, which would make their monthly maximum allowable rental costs $1,471.

      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 Olive Branch National avg. Difference
      Haircut $26.94$24.2611.0%
      Beauty Salon $41.92$45.568.0%
      Toothpaste $3.62$3.702.1%
      Shampoo $1.11$1.2813.1%
      Movie $11.99$12.131.2%
      Bowling $13.75$18.0023.6%

      Groceries

      Item Olive Branch National avg. Difference
      Ground Beef $6.10$5.844.5%
      Fried Chicken $1.46$1.577.0%
      Milk $4.71$4.670.8%
      Potatoes $5.15$4.934.3%
      Pizza $10.66$12.0911.8%
      Beer $9.95$10.414.4%

      Health Care

      Item Olive Branch National avg. Difference
      Optometrist $77.39$125.6838.4%
      Doctor $124.94$135.788.0%
      Dentist $91.51$113.2919.2%
      Ibuprofen $10.19$10.654.4%
      Lipitor $518.09$468.6010.6%

      Housing

      Item Olive Branch National avg. Difference
      Home Price $188,800.00$184,700.002.2%
      Avg. Mortgage Payment $2,240.45$2,346.694.5%
      Apartment Rent $1,182.00$949.0024.6%

      Transportation

      Item Olive Branch National avg. Difference
      Gasoline $3.14$3.469.3%
      Tire Balancing $55.67$59.927.1%

      Utilities

      Item Olive Branch National avg. Difference
      All Electricity $163.38$193.9915.8%
      Phone $192.72$192.250.2%
      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.
      Byhalia, MS1,6438316.6%
      Memphis, TN650,9108613.9%
      Horn Lake, MS27,2348811.6%
      Lynchburg, MS2,2168910.7%
      Southaven, MS55,026946.5%
      Olive Branch, MS38,270982.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Waipahu, HI38,27617777.0%
      Tupelo, MS38,2518614.0%
      Stanton, CA38,31714242.2%
      Brighton, CO38,35512121.2%
      Pahrump, NV38,390963.8%
      Olive Branch, MS38,270982.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.