Cost of Living in Hernando, MS

With a cost of living index of 91, Hernando, MS is slightly more affordable than average. Living here is 9% cheaper than the national average and 20% above the Mississippi state average of 71. Hernando is a smaller community of 17,580 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Hernando's cost of living. The median monthly rent is $1,163 (12% below the US median of $1,319), and the median home value sits at $282,200 (7% below the national median of $304,900). At current prices, the median home costs roughly 3.9x the median household income — a moderately affordable ratio by today's standards.

The median household income in Hernando is $71,451, which is 5% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Hernando. The area sees an average annual temperature of 63.4°F, with summers averaging 82°F and winters around 44°F. Annual rainfall totals 54.9 inches spread over roughly 111 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Memphis, TN-MS-AR (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.