Cost of Living in University, Mississippi
University is a Census-designated place in Lafayette County, Mississippi, with a population of 4,490. The total cost of housing, food, child care, transportation, health care, taxes, and other necessities for a single adult in University is $36,896 a year — greater than the annual cost of living for Mississippi of $34,395 yet less than the national figure of $38,433.
Using cost of living data from the nonprofift think tank Economic Policy Institute, 24/7 Wall St. estimated the cost of living in University and over 29,000 other cities and towns in the US.
Transportation Costs in University, Mississippi
Transportation can also be a significant component of cost of living. In University, 48.90% of commuters drive to work, compared to 85.5% of commuters nationwide. An estimated 63.30% of workers commute to jobs outside of University, a larger share than the 43.7% share of commuters nationwide who live and work in different cities. The average commute in University is 11.6 minutes long, compared to the 26.6-minute average commute nationwide. Taking into account the cost of gas, as well as public transit and car maintenance, the EPI estimates that a single person in University spends $10,789 a year on transportation, more than the national average of $9,760.
Health Care Costs in University, Mississippi
Out-of-pocket health care costs and insurance premiums — assuming at least a basic level of health insurance coverage — are slightly lower than they are on average nationwide in University and also below what they are across Mississippi as a whole.
For a single adult living in the area, average health care costs come out to $3,925 per year, compared to an average of $4,217 across Mississippi and $4,266 nationwide.
Child care Costs in University, Mississippi
For families with children, child care adds thousands of dollars to overall annual spending. In University, the average annual cost of child care for two children — one 4 year old and one 8 year old — is $4,461, about $1,300 less than the comparable average of $5,784 across all of Mississippi. Meanwhile, across the U.S. as a whole, childcare expenses for two children averages $15,853 per year.
Food Costs in University, Mississippi
In University, a single adult spends an average of $3,816 on food annually, and a family of four spends $11,020 on average. For context, average annual food expenditure across Mississippi and the U.S., respectively, are $3,202 and $3,240 for a single adult, and $9,248 and $9,354 for a family of four. These estimates are calculated for a nutritionally adequate diet of food purchased at a grocery store for at-home preparation.
Taxes in University, Mississippi
Few expenses vary as much from city to city and town to town as taxes. Accounting for state and federal income taxes, as well as Social Security contributions and Medicare payroll taxes, the average adult working in University, Mississippi pays $6,335 annually — a relatively high sum compared to the the statewide average of $5,784.
It is important to note that these calculations do not include other common taxes such as property, sales, and excise taxes. Accounting for these taxes, while excluding taxes levied at the federal level, University residents live in a state with a low average tax burden. Per capita state tax collections in Mississippi total $2,642 per year, compared to the $3,151 average across all states.
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