Cost of Living in Water Valley, MS
Population 3,380 · Mississippi · Data vintage 2023
(100 = US avg)
Water Valley's median household income of $47,167 is a meaningful share below the national figure, which shapes most of the downstream economic indicators — from housing affordability to the share of residents living below the poverty line (27% here).
Water Valley is about 70 miles south of Memphis, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 29% lower than Memphis' $157,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Water Valley
The median home value in Water Valley is $111,000 — 64% below the national median of $305,000. Median rent runs $592/month, 55% lower than the national median of $1,314/month. The median household income of $47,167/year is 37% lower than the US median of $74,580. The local unemployment rate is 4.1%, below the national average of 4.8%. Mississippi's top state income tax rate is 4.7% and the combined sales tax is 7.1%. Overall, Water Valley has a cost of living index of 40 versus the US average of 100, meaning it is 60% less expensive.
Water Valley is within a protected area
This area is within or adjacent to protected federal land. Residential housing is concentrated in nearby towns — here are the closest communities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Water Valley, MS?
Water Valley has a cost index of 40 (100 = national average). It is 60% below the national average.
What is average rent in Water Valley, MS?
The median gross rent in Water Valley is $592 per month based on 2023 Census data.
What is the average home price in Water Valley?
The median home value in Water Valley is $111,000 according to Zillow and Census data.
What is the median income in Water Valley?
The median household income in Water Valley is $47,167 per year (2023 ACS 5-year estimates).
What is the sales tax in Water Valley, MS?
The combined state and local sales tax rate in Water Valley is 7.1%. The Mississippi state income tax top rate is 4.7%.
Is Water Valley, MS affordable?
Yes, Water Valley is generally considered affordable, with a cost of living index of 40 — about 60% below the US national average of 100.
Water Valley at a Glance
- Population
- 3,380
- Median Income
- $47,167
- Home Value
- $111,000
- Median Rent
- $592/mo
- Unemployment
- 4.1%
- Sales Tax
- 7.1%
Explore county-level cost of living data
Mississippi Rankings
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