Cost of Living in Lula, MS

With a cost of living index of 47, Lula, MS is one of the most affordable cities in the country. Living here is 53% cheaper than the national average and 24% below the Mississippi state average of 71. Lula is a small community of 218 residents.

Housing costs are the biggest factor in Lula's cost of living. The median monthly rent is $325 (75% below the US median of $1,319), and the median home value sits at $63,300 (79% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Lula is $38,333, which is 49% lower than the national median of $75,149. Residents spend roughly 10% 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 Lula. The area sees an average annual temperature of 62.6°F, with summers averaging 81°F and winters around 44°F. Annual rainfall totals 50.4 inches spread over roughly 123 days.

Everyday prices in the Memphis, TN-MS-AR (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.