Horn Lake, MS

Very Low · 74

Mississippi · Population 26,622 · Updated March 2026

$1,293
Median Rent / Month
$56,847
Median Income
$158,900
Median Home Value
$1,132
Owner Costs / Month

Affordability

How far your income goes in Horn Lake

27.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$15,516
Annual Rent
$2,842
State Income Tax
$1,065
Property Tax (est.)

Cost of Living Overview

Horn Lake is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 74 (where 100 equals the national median), Horn Lake residents can expect to pay median rent of $1,293/month while earning a median household income of $56,847/year.

The median home value in Horn Lake, MS is $158,900, with typical monthly owner costs around $1,132 including mortgage, insurance, and taxes. With a rent-to-income ratio of 27.3%, Horn Lake falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Horn Lake.

Frequently Asked Questions

Common questions about living costs in Horn Lake

What is the cost of living in Horn Lake, MS?
The cost of living index in Horn Lake, MS is 74 (US average = 100). Median monthly rent is $1,293, median household income is $56,847/year, and the median home value is $158,900.
Is Horn Lake, MS affordable?
Yes, Horn Lake is more affordable than the national average with a cost index of 74. The rent-to-income ratio is 27.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Horn Lake, MS?
The median gross rent in Horn Lake, MS is $1,293 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,516.
What is the median household income in Horn Lake?
The median household income in Horn Lake, MS is $56,847 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%.