Cost of Living in Summit, MS
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
71.1
100 = national avg
-28.9 vs national average
Living Wage (1 Adult)
$31,293
per year
Living Wage (Family of 4)
$73,966
per year
Cost Index by Category
Housing79.7
Food76.0
Transportation51.9
Healthcare80.8
Utilities81.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$845
per month
2 Bedroom
$986
per month
The overall cost of living index in Summit is 71.1, which is 28.9% below the national average. Housing costs are below the national average at an index of 79.7. A single adult needs to earn approximately $31,293 per year to cover basic expenses.