Cost of Living in Shelby, MS

With a cost of living index of 57, Shelby, MS is one of the most affordable cities in the country. Living here is 43% cheaper than the national average and 14% below the Mississippi state average of 71. Shelby is a small community of 1,709 residents.

Housing costs are the biggest factor in Shelby's cost of living. The median monthly rent is $613 (54% below the US median of $1,319), and the median home value sits at $82,400 (73% below the national median of $304,900). At current prices, the median home costs roughly 3x the median household income — well within traditional affordability guidelines.

The median household income in Shelby is $27,728, which is 63% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Shelby. The area sees an average annual temperature of 64°F, with summers averaging 81°F and winters around 46°F. Annual rainfall totals 49 inches spread over roughly 104 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.