| Index | Horn Lake | Mississippi | National |
| Cost of living | 90 | 86 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 94 | 95 | 100 |
| Housing | 79 | 63 | 100 |
| Transportation | 93 | 94 | 100 |
| Utilities | 100 | 98 | 100 |
| Lifestyle & Entertainment | 96 | 94 | 100 |
| Household Items | 95 | 96 | 100 |
| Education & Childcare | 87 | 94 | 100 |
Getting a feel for the cost of living in Horn Lake is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Horn Lake is 90, which is 10% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Horn Lake aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Horn Lake residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Is Horn Lake an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Horn Lake is 36.2% lower than the national average, while the average monthly rent prices are 13.2% higher than average. The affordability of any location can also be influenced by median income levels. Horn Lake has a median household income of $78,534, which is 3.4% lower than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Horn Lake, the prevailing sales tax rate starts at 7%, and income tax rates kick off at 5%.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
The Horn Lake cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $89,637 | $7,470 | $2,091 | $2,689 |
| Renters | $71,437 | $5,953 | $1,667 | $2,143 |
| State | General Sales Tax | With Max Surtax |
| Mississippi | 7% | 7.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Mississippi | 5% | 5% |
| City | Population | Cost of Living Index | National Avg. |
| Horseshoe Lake, AR | 449 | 81 | 19.4% |
| West Memphis, AR | 25,245 | 87 | 13.4% |
| Edmondson, AR | 413 | 88 | 11.7% |
| Walls, MS | 1,451 | 87 | 13.2% |
| Memphis, TN | 674,455 | 91 | 9.1% |
| Horn Lake, MS | 28,196 | 90 | 10.0% |
| City | Population | Cost of Living Index | National Avg. |
| Erie, CO | 28,201 | 153 | 53.2% |
| Bergenfield, NJ | 28,186 | 133 | 33.4% |
| Oak Forest, IL | 28,144 | 104 | 3.9% |
| Mililani Town, HI | 28,249 | 185 | 85.0% |
| Millville, NJ | 28,134 | 106 | 6.2% |
| Horn Lake, MS | 28,196 | 90 | 10.0% |
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