Cost of Living in Lyman, MS

With a cost of living index of 88, Lyman, MS is a very affordable place to live. Living here is 12% cheaper than the national average and 17% above the Mississippi state average of 71. Lyman is a small community of 2,041 residents.

Housing costs are the biggest factor in Lyman's cost of living. The median monthly rent is $1,315 (0% below the US median of $1,319), and the median home value sits at $205,000 (33% below the national median of $304,900). At current prices, the median home costs roughly 2.1x the median household income — well within traditional affordability guidelines.

The median household income in Lyman is $97,500, which is 30% higher than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Lyman. The area sees an average annual temperature of 68.3°F, with summers averaging 82°F and winters around 54°F. Annual rainfall totals 62.8 inches spread over roughly 117 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Gulfport-Biloxi, 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.