Cost of Living in Southaven, MS
Updated November 2026 · DeSoto County · Memphis, TN-MS-AR metro area · population 56,226
Prices in Southaven are 5.8% below the US average (local index 94.2; the BEA index for the Memphis, TN-MS-AR metro area is 92.2), with utilities the biggest saving at 74.1; a single adult's modelled budget is about $2,672 a month and the median rent is $1,445.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Southaven's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Memphis, TN-MS-AR metro area, unchanged.
Southaven price index by category, US average = 100: All items 94.2, Housing (rents) 87.8, Goods 96.2, Utilities 74.1, Other services 95.4
Cheaper than 76% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 91.3 | 90.3 | 90.3 | 91.8 | 91.9 | 92.2 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Southaven, MS
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,086 | $13,032 | 41% |
| Utilities | $236 | $2,832 | 9% |
| Food at home | $271 | $3,252 | 10% |
| Transportation | $583 | $6,996 | 22% |
| Health care | $335 | $4,020 | 13% |
| Clothing, personal care & supplies | $161 | $1,932 | 6% |
| Total | $2,672 | $32,064 | 100% |
2 adults · 2-bedroom · modelled estimate for Southaven, MS
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,184 | $14,208 | 29% |
| Utilities | $371 | $4,452 | 9% |
| Food at home | $501 | $6,012 | 12% |
| Transportation | $1,155 | $13,860 | 28% |
| Health care | $621 | $7,452 | 15% |
| Clothing, personal care & supplies | $316 | $3,792 | 8% |
| Total | $4,148 | $49,776 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Southaven, MS
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,296 | $15,552 | 26% |
| Utilities | $452 | $5,424 | 9% |
| Food at home | $715 | $8,580 | 14% |
| Transportation | $1,533 | $18,396 | 31% |
| Health care | $579 | $6,948 | 12% |
| Clothing, personal care & supplies | $408 | $4,896 | 8% |
| Total | $4,983 | $59,796 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Southaven
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $1,276 modelled from city median rent |
| 1 bedroom | $1,274 |
| 2 bedrooms | $1,389 |
| 3 bedrooms | $1,520 |
| 4 bedrooms | $2,091 |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $1,445 |
| Median contract rent (excl. utilities) | $1,232 |
| Median home value | $236,300 |
| Owner costs with a mortgage | $1,565/mo |
| Median household income | $78,483 |
| Rent as % of renter income Expensive | 30.0% |
| Home value ÷ household income Affordable | 3.0× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in Mississippi
14.43¢ per kWh, August 2026
12-month change: +6.0% (from 13.61¢) · US 18.16¢
Average household uses 1,170 kWh a month in Mississippi ≈ $174/month. Source: EIA-861M (statewide average).
Regular gasoline regional figure: Gulf Coast (PADD 3)
$3.64 per gallon, week of 2026-11-02
12-month change: +44.8% (from $2.51) · US $4.15
EIA weekly retail price survey; Mississippi is covered by the Gulf Coast (PADD 3) average.
Inflation in the South
Consumer prices in the South Census region rose +3.4% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Southaven are 5.8% below the US average, $60,000 here has the buying power of about $63,700 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 94.2. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Nearby cities
| City | Distance | Index | Budget (single) | Median rent |
|---|---|---|---|---|
| Memphis, TN | 11 mi | 91.3 | $2,332 | $1,181 |
| Collierville, TN | 17 mi | 97.0 | $2,886 | $1,691 |
| Bartlett, TN | 21 mi | 96.4 | $2,618 | $1,638 |
| Jonesboro, AR | 72 mi | 87.7 | $2,166 | $956 |
| Jackson, TN | 81 mi | 89.5 | $2,233 | $1,145 |
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| San Marcos, TX | 94.2 | $2,688 | $1,322 |
| Sherman, TX | 94.2 | $2,483 | $1,324 |
| Lee's Summit, MO | 94.2 | $2,735 | $1,422 |
| Reading, PA | 94.2 | $2,366 | $1,067 |
| Indianapolis, IN | 94.2 | $2,454 | $1,156 |
| Idaho Falls, ID | 94.2 | $2,285 | $1,075 |
Compare Southaven with another city
Frequently asked questions
Is Southaven, MS an expensive place to live?
Southaven has a local cost of living index of 94.2, which is 5.8% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Memphis, TN-MS-AR metro area (92.2) and adjusts housing to Southaven's own rents. It is 7.3 points above the Mississippi average. Cheaper than 76% of the cities we cover.
How much money do you need to live in Southaven?
Our modelled estimate of basic monthly costs is $2,672 for a single adult, $4,148 for a couple and $4,983 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $56,500 in Southaven.
What is the average rent in Southaven?
The median gross rent (rent plus tenant-paid utilities) is $1,445 a month (Census ACS 2020-2024). By size: 1 bedroom $1,274, 2 bedrooms $1,389, 3 bedrooms $1,520. The typical renter spends 30.0% of household income on rent (expensive).
How much does a house cost in Southaven?
The median owner-estimated home value is $236,300, 3 times the median household income of $78,483 (affordable). Owners with a mortgage pay a median $1,565 a month in housing costs.
How much is electricity and gas in Southaven?
Mississippi residential electricity averaged 14.43¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $3.64 a gallon (Gulf Coast (PADD 3) average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Memphis, TN-MS-AR metropolitan statistical area (BEA index 92.2) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 2869280 (Southaven city).
- Electricity: EIA-861M, Mississippi residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Gulf Coast (PADD 3), week of 2026-11-02.
- Inflation: BLS CPI-U South region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
- Gasoline price: regional figure (EIA publishes weekly prices for only 9 states).
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources