MississippiMoney Index August 2026
"Cheapest cost in America."
Mississippi — Money Index — Key Facts
- Business Climate: 5/10. Mississippi scores 5/10 on business climate with 4/10 for remote work — moderate runway for entrepreneurs.
- Mississippi Quirk. Mississippi's cost of living is roughly 14% below the US average — the cheapest of any state.
- Banking Access: 5/10. Mississippi scores 5/10 on banking access — fine for everyday accounts, worth shopping online HYSA rates to beat local offers.
- Tax Friendliness: 7/10. Mississippi's income-tax burden is light (7/10). Paychecks here go meaningfully further than in high-tax states.
- Inflation Resilience: 6/10. Mississippi scores 6/10 on inflation resilience — middle of the national pack.
- The Short Answer. Mississippi is among the cheapest places to live in America — a median income here buys what a six-figure salary buys on the coasts.
- Remote Work: 4/10. Mississippi scores only 4/10 for remote work — infrastructure and tax math favor in-office economies here.
- Retirement: 7/10. Mississippi is workable for retirees (7/10) but not at the top of the pack.
- Affordability: 10/10. Mississippi is one of the cheapest states in the union (10/10). A modest income here lives like a high one on the coasts.
- South Money Profile. Mississippi sits in the South — and its personality is "The Frugal Powerhouse". Paychecks stretch further here — savings rates beat the national average effortlessly.
Mississippi is among the cheapest places to live in America — a median income here buys what a six-figure salary buys on the coasts.
On our 1-10 money scorecards, Mississippi ranks 7/10 on tax friendliness, 10/10 on cost of living, and 7/10 on retirement — placing it #25 of 50 states overall.
How Mississippi scores across the board
Seven dimensions of household finance, scored 1-10. Higher is better in every category.
Money personality: The Frugal Powerhouse
Paychecks stretch further here — savings rates beat the national average effortlessly.
Four Mississippi money truths
Mississippi's state income tax burden is light (7/10) — paychecks here go meaningfully further than in high-tax states.
Cost of living scores 10/10 — Mississippi is one of the cheapest states in the union, so a modest income lives like a high one elsewhere.
Retirement friendliness 7/10 — workable for retirees but not at the top of the pack.
Business climate 5/10 with 4/10 for remote work — moderate runway for entrepreneurs and laptop-class earners.
"Mississippi's cost of living is roughly 14% below the US average — the cheapest of any state."
Money lessons from Mississippi
- 1
Cheap COL = automatic 20% savings rate if you keep coastal-city habits
- 2
State tax policy is part of your investment strategy — not just where you live
Find your next account
Compare the best savings, checking, business and CD rates — all ranked monthly, all in one place.
Explore financial categories
← Swipe to explore →
Mississippi money FAQ
Is Mississippi a good state for keeping your money?+
Mississippi scores 48 on our composite money index, with a the frugal powerhouse profile. Mississippi is among the cheapest places to live in America — a median income here buys what a six-figure salary buys on the coasts.
What is the state income tax in Mississippi?+
Mississippi's state income tax burden is roughly in the middle of the pack. On our 1-10 tax-friendliness scale (10 = no income tax), Mississippi scores 7.
Is Mississippi good for retirement?+
Mississippi scores 7/10 on retirement friendliness, factoring in tax treatment of Social Security and pension income, healthcare costs, and overall affordability for fixed-income households.
Is Mississippi good for business owners and remote workers?+
Mississippi scores 5/10 on business climate and 4/10 on remote-work suitability — covering tax incentives, talent pools, infrastructure and cost of doing business.
How affordable is Mississippi?+
Mississippi scores 10/10 on cost of living (10 = cheapest). Combined with 6/10 inflation resilience, that shapes how far paychecks stretch here.
What money personality fits Mississippi?+
The Frugal Powerhouse — Paychecks stretch further here — savings rates beat the national average effortlessly.
What's surprising about money in Mississippi?+
Mississippi's cost of living is roughly 14% below the US average — the cheapest of any state.
