Cost of Living in Goodman, MS

With a cost of living index of 46, Goodman, MS is one of the most affordable cities in the country. Living here is 54% cheaper than the national average and 25% below the Mississippi state average of 71. Goodman is a small community of 1,237 residents.

Housing costs are the biggest factor in Goodman's cost of living. The median monthly rent is $372 (72% below the US median of $1,319), and the median home value sits at $37,200 (88% 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 Goodman is $14,722, which is 80% lower than the national median of $75,149. Residents spend roughly 30% 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 Goodman. The area sees an average annual temperature of 64°F, with summers averaging 81°F and winters around 47°F. Annual rainfall totals 51.8 inches spread over roughly 107 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Jackson, MS (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.