Cost of Living in Independence, MS
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
62.1
100 = national avg
-37.9 vs national average
Living Wage (1 Adult)
$27,308
per year
Living Wage (Family of 4)
$64,547
per year
Cost Index by Category
Housing55.1
Utilities86.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$830
per month
2 Bedroom
$1,089
per month
The overall cost of living index in Independence is 62.1, which is 37.9% below the national average. Housing costs are below the national average at an index of 55.1. A single adult needs to earn approximately $27,308 per year to cover basic expenses.