Cost of Living in Mignon, AL

With a cost of living index of 56, Mignon, AL is one of the most affordable cities in the country. Living here is 44% cheaper than the national average and 18% below the Alabama state average of 74. Mignon is a small community of 820 residents.

Housing costs are the biggest factor in Mignon's cost of living. The median monthly rent is $721 (45% below the US median of $1,319), and the median home value sits at $38,100 (88% below the national median of $304,900). At current prices, the median home costs roughly 1.1x the median household income — well within traditional affordability guidelines.

The median household income in Mignon is $33,217, which is 56% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Mignon. The area sees an average annual temperature of 62.3°F, with summers averaging 79°F and winters around 46°F. Annual rainfall totals 52.2 inches spread over roughly 116 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.