A-
Overall 18%
Goods & Services 9%
Housing 33%
Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexHorn LakeMississippiNational
Cost of living8284100
Goods & Services9194100
Groceries8993100
Health care8189100
Housing6763100
Transportation8690100
Utilities8995100

Key findings

  • The cost of living in Horn Lake is 2% lower than the Mississippi average
  • The cost of living in Horn Lake is 18% lower than the national average
  • Horn Lake housing is 33% lower than the national average
  • Mississippi general sales tax is 37% higher than the national average
  • Mississippi state income tax is 22% higher than the national average

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Compare Horn Lake, MS Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$51,795$4,316$1,208$1,554
      Renters$35,090$2,924$819$1,053
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Horn Lake, MS, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Horn Lake, homeowners have a median income of $51,795. Using that number, a maximum of $1,208 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $35,090, which means there is a maximum of $819 to be spent on the costs of renting a home or apartment.

      Mississippi Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Mississippi7%7.25%

      Mississippi Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Mississippi3%5%

      Goods & Services

      ItemHorn LakeNational avg.Difference
      Haircut $15.07$18.6219.1%
      Beauty Salon $36.63$39.056.2%
      Toothpaste $1.65$2.3429.7%
      Shampoo $0.91$1.0614.2%
      Movie $11.50$10.687.6%
      Bowling $16.47$14.6712.2%

      Groceries

      ItemHorn LakeNational avg.Difference
      Ground Beef $3.42$4.2218.9%
      Fried Chicken $0.98$1.3929.3%
      Milk $1.79$2.0512.6%
      Potatoes $3.62$3.2910.1%
      Pizza $10.37$10.622.3%
      Beer $9.22$9.381.8%

      Health Care

      ItemHorn LakeNational avg.Difference
      Optometrist $74.47$108.5731.4%
      Doctor $84.25$116.1727.5%
      Dentist $77.68$99.1321.6%
      Ibuprofen $8.80$9.689.1%
      Lipitor $467.26$466.920.1%

      Housing

      ItemHorn LakeNational avg.Difference
      Home Price $95,600.00$184,700.0048.2%
      Avg. Mortgage Payment $882.71$1,197.4226.3%
      Apartment Rent $963.00$949.001.5%

      Transportation

      ItemHorn LakeNational avg.Difference
      Gasoline $1.94$2.2213.0%
      Tire Balancing $40.73$50.0718.6%

      Utilities

      ItemHorn LakeNational avg.Difference
      All Electricity$133.97$167.6720.1%
      Phone $184.96$175.645.3%
      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.

      Nearby cities with low cost of living

      City, StatePopulationCost of Living IndexNational Avg.
      Edmondson, AR26676-24%
      Horseshoe Lake, AR30377-23%
      West Memphis, AR25,41178-22%
      Memphis, TN655,85781-19%
      Lynchburg, MS2,19785-15%
      Horn Lake, MS26,78582-18%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Paramus, NJ26,79515858%
      Wooster, OH26,77386-14%
      Norco, CA26,80914747%
      Bristol, TN26,73484-16%
      East St. Louis, IL26,73177-23%
      Horn Lake, MS26,78582-18%
      Source: The Horn Lake, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.