Cost of Living in Water valley, MS
Water valley cost of living index: 43.2 (below the US average). Median home price: $225,500.
Updated 2026 • Based on 1 local zip code
📍 Some data sourced from nearby metro area
% below the national average
Housing
Data from 1 zip code
Housing costs in Water valley, MS based on real market data from 1 local zip code.
Considering a move to Water valley, MS? The housing index of 61.5 suggests that the market is affordable compared to national averages, making it attractive for first-time homebuyers and renters alike. With a median home price of 225500.0 and average rent for a 2-bedroom apartment at 1309.0, affordability is key. The slightly higher price for a 2-bedroom house at might offer better space options for families. Evaluate your housing preferences carefully, as this location presents an opportunity for both rental and homeownership success.
Last updated: January 2026
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
Living in Water valley, MS could entail variable utility costs. Electricity costs sit at $13.42, while natural gas is priced at $22.19 per Thousand Cubic Feet. Expect to budget about $207.0 monthly for other services like water and garbage.
Cost Breakdown by Category
Local Income & Economy in Water valley, MS
How far does your money go in Water valley? Understanding the relationship between income and cost of living is key to evaluating affordability.
How We Calculate Adjusted Purchasing Power in Water valley
The adjusted purchasing power shows what a Water valley, MS household income is actually worth after accounting for local prices. We calculate it using the formula: Purchasing Power = Median Income ÷ Cost of Living Index × 100
For Water valley, that's $45,718 ÷ 43.2 × 100 = $105,829. This means a household earning the median income in Water valley has the equivalent buying power of $105,829 in a city where the cost of living index equals the national baseline of 100.
Water valley is well below the national cost of living average at 43.2, making it one of the more affordable places to live in MS. The median income of $45,718 has an effective purchasing power of $105,829 — a meaningful boost that allows residents to save more, invest in real estate, or enjoy a higher standard of living compared to expensive metro areas.
Combined with a low poverty rate and healthy job market (4.3% unemployment), Water valley offers strong value for families, investors, and anyone looking to relocate to a city where income goes further.
💡 Purchasing power is calculated by dividing the local median household income by the cost of living index and multiplying by 100. A result higher than the nominal income means your money goes further; a lower result means local prices erode your earnings. The US baseline cost of living index is 100.
Pros & Cons of Living in Water valley
Pros
- • Friendly community vibe
- • Family-friendly parks
- • Strong church community
- • Access to outdoor activities
- • Safe neighborhoods
- • Rich southern culture
- • Cultural local events
- • Low cost of living
- • Mild winters
- • Growing small businesses
Cons
- • Less cultural diversity
- • Limited dining choices
- • Limited nightlife options
- • Inequality in schools
- • Job market struggling
- • Political tension
- • Underdeveloped public transport
- • Few educational resources
- • Higher crime rates
- • Healthcare access issues
💡City Insights
Water valley scores 8/10 for affordability, 5/10 for safety, and 5/10 for family-friendliness — an good overall profile. Its strongest aspect is affordability, making it particularly suitable for budget-conscious buyers. This balanced profile makes Water valley worth considering for various lifestyle priorities.
Frequently Asked Questions
What is the cost of living in Water valley, MS? ▼
The cost of living in Water valley, MS is 57% lower than the national average, with a cost of living index of 43 (where 100 represents the U.S. average). Housing typically accounts for the largest portion of living expenses. See full cost of living breakdown →
How much does it cost to buy or rent a home in Water valley, MS? ▼
In Water valley, MS, The median home price is $225,500. requiring approximately $91,179 annual income to afford. Average rent is $1,309/month (requiring ~$52,360/year income). The local median household income is $45,718, making homeownership attainable for typical residents. Explore Water valley real estate data →
Is Water valley, MS a safe place to live? ▼
Water valley, MS is average in terms of safety, with crime rates near the national average. Safety varies significantly by neighborhood. View detailed Water valley crime statistics →
What salary do you need to live comfortably in Water valley, MS? ▼
To live comfortably in Water valley, MS and afford a median-priced home of $225,500, you would typically need a household income of $56,375 to $70,469 per year. The local median household income is $45,718. Renting requires approximately $52,360/year (at $1,309/month). See full affordability analysis →
What are the best neighborhoods in Water valley, MS? ▼
The best neighborhoods in Water valley, MS depend on your priorities. For families, look for areas near top-rated schools with lower crime rates. For affordability, neighborhoods throughout the city offer good value since the median home price of $225,500 is below the national average.
How are the taxes in Water valley, MS? ▼
Tax rates in Water valley, MS include state and local components. The cost of living index of 43 suggests a lower overall tax and expense burden cost environment compared to the national average. View detailed Water valley tax information →
How does Water valley, MS compare to nearby cities? ▼
Water valley, MS offers a more affordable alternative to nearby communities. With a cost of living index of 43, median home prices of $225,500, and a crime rate of 0 per 1,000 residents, you can compare these metrics side-by-side. Use the compare feature to evaluate specific cities.
What is the weather like in Water valley, MS? ▼
Weather in Water valley, MS varies by season. Climate data varies by season. View detailed Water valley climate & environment data →
What factors affect cost of living in Water valley, MS? ▼
The main factors affecting cost of living in Water valley, MS include housing costs (the biggest factor), utilities, groceries, transportation, and healthcare. Local taxes and the overall economic conditions also play a role.
Housing Costs by Zip Code
Detailed housing data across 1 zip code in Water valley, MS.
| Zip Code | Median Home Price | Avg Rent | 2BR Rent | For Sale | For Rent |
|---|---|---|---|---|---|
| 38965 | $225,500 | $1,800/mo | — | 58 | 1 |
Explore More About Water valley, MS
📅 Last Updated: January 2026
Sources: U.S. Census Bureau (ACS), Bureau of Labor Statistics, Council for Community and Economic Research (C2ER), Zillow, Redfin