| Index | Southaven | Mississippi | National |
| Cost of living | 95 | 86 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 94 | 95 | 100 |
| Housing | 95 | 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 |
Understanding the cost of living in Southaven can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Southaven cost of living index is 95, which is 5% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
In Southaven, daily expenses such as food, housing, lifestyle expenses, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Southaven will resemble that of an average city, contributing to a manageable cost of living.
Is Southaven an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Southaven, the median home price is 11.4% lower than what most folks pay across the country, and monthly rent prices are 11.3% higher than the usual rates. Income levels in Southaven come in at $94,921, which is 16.7% higher than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Southaven, the transportation index stands at 7.5% lower than the national average.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Southaven, the utilities index registers 0.2% higher 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 Southaven, the prevailing sales tax rate starts at 7%, and income tax rates kick off at 5%.
The Southaven cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional 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 | $109,166 | $9,097 | $2,547 | $3,275 |
| Renters | $67,011 | $5,584 | $1,563 | $2,011 |
| 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. |
| West Memphis, AR | 25,245 | 87 | 13.4% |
| Walls, MS | 1,451 | 87 | 13.2% |
| Memphis, TN | 674,455 | 91 | 9.1% |
| Horn Lake, MS | 28,196 | 90 | 10.0% |
| Lynchburg, MS | 2,272 | 91 | 9.3% |
| Southaven, MS | 57,133 | 95 | 5.0% |
| City | Population | Cost of Living Index | National Avg. |
| Manhattan, KS | 57,133 | 100 | 0.3% |
| Kettering, OH | 57,103 | 91 | 8.8% |
| Lakewood, NJ | 57,098 | 151 | 51.0% |
| Oak Lawn, IL | 57,180 | 106 | 5.8% |
| Apex, NC | 57,037 | 122 | 22.3% |
| Southaven, MS | 57,133 | 95 | 5.0% |
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