Cost of Living in Lexington, MS

With a cost of living index of 58, Lexington, MS is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 13% below the Mississippi state average of 71. Lexington is a small community of 1,202 residents.

Housing costs are the biggest factor in Lexington's cost of living. The median monthly rent is $629 (52% below the US median of $1,319), and the median home value sits at $90,300 (70% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Lexington is $39,375, which is 48% lower than the national median of $75,149. Residents spend roughly 19% 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 Lexington. 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.