In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Here we can see a simple outline of the cost of living in Holly Springs, MS. As you can see, with the average cost of living in Holly Springs, MS being 77, that puts it 7% lower than the average of Mississippi and 23% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Holly Springs, MS, the price of goods and services are 3% lower than the average of Mississippi as well as 13% lower than the nation's average.
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The cost of living in Holly Springs is 7% lower than the Mississippi average.
The cost of living in Holly Springs is 23% lower than the national average.
The cost of housing in Holly Springs is 54% lower than the national average.
Mississippi general sales tax is 37% higher than the national average.
Mississippi state income tax is 35% higher than the national average.
Compare Holly Springs, MS Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is meant to help you compare your salary in Holly Springs, MS to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Holly Springs, MS, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Holly Springs, MS salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Holly Springs, MS, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Holly Springs, MS, the median monthly income is $40,634 for those who own their own homes. Under the standard rule, that income level would allow for $948 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $17,500, per the median income in the area. That would allow for renters to spend up to $408 on monthly rental expenses.
Mississippi Sales Tax
General Sales Tax
With Max Surtax
Mississippi Income Tax
Income Tax (Low)
Income Tax (High)
One thing to keep in mind when considering the cost of living in Holly Springs, MS is the Mississippi sales tax and Mississippi income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Mississippi sales tax rate is 7% and the maximum surtax that can be charged is 7.25%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Mississippi income tax rates range from 3% to 5%.
Goods & Services
Avg. Mortgage Payment
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.