Cost of Living in Louisville, MS

With a cost of living index of 59, Louisville, MS is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 12% below the Mississippi state average of 71. Louisville is a smaller community of 6,018 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Louisville's cost of living. The median monthly rent is $539 (59% below the US median of $1,319), and the median home value sits at $135,800 (55% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Louisville is $37,679, which is 50% lower than the national median of $75,149. Residents spend roughly 17% 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 Louisville. The area sees an average annual temperature of 65.9°F, with summers averaging 82°F and winters around 50°F. Annual rainfall totals 54.8 inches spread over roughly 121 days.

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.