Cost of Living in Horn Lake, MS

With a cost of living index of 84, Horn Lake, MS is a very affordable place to live. Living here is 16% cheaper than the national average and 14% above the Mississippi state average of 71. With a population of 26,622, Horn Lake is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Horn Lake's cost of living. The median monthly rent is $1,293 (2% below the US median of $1,319), and the median home value sits at $158,900 (48% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Horn Lake is $56,847, which is 24% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Horn Lake. 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.