Canton, MS

Very Low · 55

Mississippi · Population 10,863 · Updated March 2026

$949
Median Rent / Month
$34,812
Median Income
$111,800
Median Home Value
$921
Owner Costs / Month

Affordability

How far your income goes in Canton

32.7%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Mississippi

State-level tax rates that affect your costs

5.0%
Income Tax (Top Rate)
7.0%
Sales Tax
0.67%
Property Tax Rate

Estimated Annual Costs

$11,388
Annual Rent
$1,741
State Income Tax
$749
Property Tax (est.)

Cost of Living Overview

Canton is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 55 (where 100 equals the national median), Canton residents can expect to pay median rent of $949/month while earning a median household income of $34,812/year.

The median home value in Canton, MS is $111,800, with typical monthly owner costs around $921 including mortgage, insurance, and taxes. At 32.7% rent-to-income ratio, residents of Canton are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

Mississippi has a moderate income tax rate of 5.0%. Combined with a 7.0% sales tax rate and 0.67% effective property tax rate, the overall tax environment is a factor in the total cost of living in Canton.

Frequently Asked Questions

Common questions about living costs in Canton

What is the cost of living in Canton, MS?
The cost of living index in Canton, MS is 55 (US average = 100). Median monthly rent is $949, median household income is $34,812/year, and the median home value is $111,800.
Is Canton, MS affordable?
Yes, Canton is more affordable than the national average with a cost index of 55. The rent-to-income ratio is 32.7%—above the 30%% affordability threshold.
What is the average rent in Canton, MS?
The median gross rent in Canton, MS is $949 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,388.
What is the median household income in Canton?
The median household income in Canton, MS is $34,812 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Mississippi?
Mississippi has a top income tax rate of 5.0%, a sales tax of 7.0%, and an effective property tax rate of 0.67%.