If you’re eyeing Mississippi for your next home, or just curious about the living costs, you’re in for a ride. I’m here to guide you through ‘Living in Mississippi in 2024: Navigating Living Costs’ From housing to everyday expenses, stick around as we break down the essentials of living in this charming state. Whether you’re a local or potential resident, this video is your key to understanding the costs of living!
The cost of living in Mississippi is generally lower compared to the national average and ranked number one in the country for affordability. Factors like housing, groceries, and transportation tend to be more affordable. Keep in mind that specific expenses can vary based on your location within the state. First, we are going to dive into the current housing market in Brandon, MS. The average home price for the area is $353,000 and the average rental price is $2,300 and of course that depends on which area and neighborhood you are looking in as that effects price, currently in the Brandon market home prices range from $80,000 to $1,595,000. The larger price homes are generally waterfront or on a larger parcel of acreage and typically there is a large number of homes to choose from in all price ranges. And speaking of home prices, you can expect your property taxes to be about .007 percent of your home value in Brandon which is significantly lower than the national average so that means more cash in your pocket! Also, homeowners who are 65 and older receive additional exemptions on property taxes!
Next up, is day to day expenses such as groceries, utilities, healthcare and transportation and according to CNBC, Mississippi ranks as an A plus for affordability for everyday costs. Your dollar seems to go a little farther in the Magnolia state as the average gallon of milk is $2.37 and an average electric bill seems to average around $153/monthly.. As of today, gas was marked at $2.47 a gallon so as you can see the costs of living is very economical for the Brandon area. Adding on to expenses, Mississippi is one of the states with no state income tax on social security benefits or retirement income, a nice perk for retirees and anyone long term planning.
And if you are not close to retirement and wondering about the job market in Brandon, MS, the unemployment rate is a low 4.1 percent according to bestplaces.net and is reporting the average household income is around $86,000 and is expected to have future growth. The public-school districts in Brandon are also A rated so would not have to worry about private school costs unless you chose to go that route! As a Brandon resident myself, I can say I honestly love this town and everything about it and stay tuned and we will take a quick tour of an average price home in Brandon so you can get an idea of what you can get and hopefully you will be calling Brandon home soon!
If you’re thinking of moving to Mississippi, be sure and check out our website www.taylorgroupms.com, it has all MLS listings in Central MS and is updated every 10 minutes. Whether you're buying or selling, our team is here to help every step of the way. Contact us today to get started.
Taylor Realty Group
601-613-9100
