The Tupelo, Mississippi micropolitan area has been named the 8th least expensive place to live in the United States for the year-end average of 2008, by the ACCRA Cost of Living Index. The Tupelo micropolitan area includes Lee, Pontotoc, and Itawamba counties.
Tupelo’s composite index was 86.5%, well below the national average of 100%. In a regional comparison, Tupelo was the least expensive micropolitan overall among similar southern cities, and was also least expensive when compared to other cities in Mississippi. Tupelo was ranked in the top ten for lowest cost housing markets nationwide.
“As we continue to deal with tough economic times, it is reassuring to know that Tupelo remains a cost-effective community in which to reside,” said Tupelo Mayor Ed Neelly.
The ACCRA Cost of Living Index is compiled and published by the Council for Community and Economic Research. It measures regional differences and is based on six components—housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services. The survey is based on more than 50,000 prices covering almost 60 different items for which prices are collected three times a year by chambers of commerce, economic development organizations, or university applied economic centers in each participating urban area. 322 communities participated in the 2008 year-end survey.