Cost of Living in Collins, MS

With a cost of living index of 62, Collins, MS is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 9% below the Mississippi state average of 71. Collins is a small community of 2,180 residents.

Housing costs are the biggest factor in Collins's cost of living. The median monthly rent is $757 (43% below the US median of $1,319), and the median home value sits at $90,400 (70% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Collins is $35,946, which is 52% lower than the national median of $75,149. Residents spend roughly 25% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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 Collins. The area sees an average annual temperature of 66.5°F, with summers averaging 81°F and winters around 51°F. Annual rainfall totals 58.9 inches spread over roughly 118 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.