Better grab those apartments for rent before the line is out the door! Hattiesburg, MS has put itself on the popularity map due to a recent study that ranks the city as the 4th best place to live in the U.S. for cost of living.
The recent study, The Best and Worst Cities to Live on Six Figures, analyzed 381 major U.S. metropolitan areas to determine where you can get the most bang for your buck. Using an estimation of a two-earner household with three individuals (two adults, one child) and an annual gross income of $100,000, MagnifyMoney ranked cities from worst to best on how much money is left at the end of each month after expenses. The expenses included in the report covered seven major areas: food, childcare, housing, transportation, student loan payments, entertainment and personal savings.
Also making the top 10 cut was Jackson, MS that ranked No. 9 on the coveted list. In all, three Mississippi metro areas were researched for the report – Hattiesburg (#4), Gulfport-Biloxi-Pascagoula (#64), and Jackson (#9).
Hattiesburg, MA: Robust Economy with Low Cost of Living
If you want extra cash on hand at the end of each month then move to Hattiesburg!
According to the study, a resident in Hattiesburg would have a post-tax income of $6,585 with total expenses of $4,191, which left $2,395 at the end of the month.
This means Hattiesburg residents only use 64% of their monthly income on expenses…one of the lowest rates in the entire country. By comparison, the highest rate of expenses went to Washington-Arlington-Alexandria, DC-VA-MD-WV at a whopping 105%.
President of the Area Development Partnership, Chad Newell, reported that Hattiesburg’s overall cost of living is just 82.8% of the national average and points to the city’s affordable housing, health care and transportation as ranking factors.
He says, “Our organization has tracked 4,000 new jobs and $2 billion in capital investments over the last five years. Greater Hattiesburg leads the state among metros in the percentage of job growth. Our college town environment offers a superb quality of life at a low cost.”
Hattiesburg, MS Housing: Apartments For Rent That Don’t Break the Bank
Not surprising to anyone who has ever paid rent or a mortgage, housing was determined as the number one budget consumer in the study. In 64 of the 381 metro areas analyzed, more than ¼ of monthly income is spent on housing expenses (owned homes, or homes/condos/apartments for rent). In 18 of the 381, more than 1/3 is spent on housing expenses.
Low housing costs is what helped Hattiesburg rank so high on the list. Local apartments for rent are some of the most affordable in the nation, with housing costs sitting at 72.1% of the national average.
Affordability seems to be a regional thing as Southern areas ranked highest in the national study. The Southeast and Southwest tied as the best region for having money leftover each month, with families only using an average of 70% of their income on expenses.
The Best and Worst Cities to Live on Six Figures
Top 10 Cities
- Johnson City, Tennessee
- Morristown, Tennessee
- Cleveland, Tennessee
- Hattiesburg, Mississippi
- McAllen-Edinburg-Mission, Texas
- Jackson, Tennessee
- Chattanooga, Tennessee-Georgia
- Lafayette-West Lafayette, Indiana
- Jackson, Mississippi
- Brownsville-Harlingen, Texas
Bottom 10 Cities
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- Bridgeport-Stamford-Norwalk, Connecticut
- San Jose-Sunnyvale-Santa Clara, California
- San Francisco-Oakland-Hayward, California
- New York-Newark-Jersey City, NY-NJ-PA
- California-Lexington Park, Maryland
- Kahului-Wailuku-Lahaina, Hawaii
- Urban Honolulu, Hawaii
- Boston-Cambridge-Newton, Massachusetts-New Hampshire
- Santa Cruz-Watsonville, California
Need Help Finding Apartments For Rent in Hattiesburg?
Now that you know where your money goes the furthest, are you thinking of moving to Hattiesburg? No matter where you are at in the rental process, it always helps to have some assistance along the way.
If are seeking to rent, or even invest, in Hattiesburg apartment communities then please contact us at Hattiesburg Apartments. As the most accredited leasing and property management team in the market, our staff has the history and real-world experience to successfully serve every tenant and investment need. Search through our properties today!