Hernando, MS

Below Avg · 87

Mississippi · Population 17,580 · Updated March 2026

$1,163
Median Rent / Month
$71,451
Median Income
$282,200
Median Home Value
$1,314
Owner Costs / Month

Affordability

How far your income goes in Hernando

19.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Mississippi

State-level tax rates that affect your costs

5.0%
Income Tax (Top Rate)
7.0%
Sales Tax
0.67%
Property Tax Rate

Estimated Annual Costs

$13,956
Annual Rent
$3,573
State Income Tax
$1,891
Property Tax (est.)

Cost of Living Overview

Hernando offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 87 (where 100 equals the national median), Hernando residents can expect to pay median rent of $1,163/month while earning a median household income of $71,451/year.

The median home value in Hernando, MS is $282,200, with typical monthly owner costs around $1,314 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Mississippi has a moderate income tax rate of 5.0%. Combined with a 7.0% sales tax rate and 0.67% effective property tax rate, the overall tax environment is a factor in the total cost of living in Hernando.

Frequently Asked Questions

Common questions about living costs in Hernando

What is the cost of living in Hernando, MS?
The cost of living index in Hernando, MS is 87 (US average = 100). Median monthly rent is $1,163, median household income is $71,451/year, and the median home value is $282,200.
Is Hernando, MS affordable?
Yes, Hernando is more affordable than the national average with a cost index of 87. The rent-to-income ratio is 19.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hernando, MS?
The median gross rent in Hernando, MS is $1,163 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,956.
What is the median household income in Hernando?
The median household income in Hernando, MS is $71,451 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Mississippi?
Mississippi has a top income tax rate of 5.0%, a sales tax of 7.0%, and an effective property tax rate of 0.67%.