The Tupelo, Mississippi micropolitan area has been named the 6th least expensive place to live in the United States for the third quarter 2008, by the ACCRA Cost of Living Index. The Tupelo micropolitan area includes Lee, Pontotoc, and Itawamba counties.
Tupelo’s composite index was 85.5%, 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.
“During these tough economic times, it is a comfort to know that Tupelo remains among the most affordable places to live in our nation,” said Tupelo Mayor Ed Neelly.
In the first quarter 2008, Tupelo ranked 17th nationally with a score of 87.0%, from 311 contributing urban areas.
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. 315 communities participated in the third quarter survey.