Cost of Living in Southaven, MS

With a cost of living index of 91, Southaven, 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. With a population of 55,531, Southaven 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 Southaven's cost of living. The median monthly rent is $1,361 (3% above the US median of $1,319), and the median home value sits at $214,800 (30% 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 Southaven is $76,159, which is 1% higher than the national median of $75,149. Residents spend roughly 21% 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 Southaven. 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.