Cost of Living in Raleigh, MS

With a cost of living index of 55, Raleigh, MS is one of the most affordable cities in the country. Living here is 45% cheaper than the national average and 16% below the Mississippi state average of 71. Raleigh is a small community of 1,104 residents.

Housing costs are the biggest factor in Raleigh's cost of living. The median monthly rent is $475 (64% below the US median of $1,319), and the median home value sits at $110,700 (64% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Raleigh is $35,833, which is 52% lower 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. 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 Raleigh. The area sees an average annual temperature of 63.2°F, with summers averaging 79°F and winters around 47°F. Annual rainfall totals 58.2 inches spread over roughly 115 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

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.