Salary & Cost of Living in Southaven, MS
Southaven, MS: $55,000 median salary, cost of living index 88, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$55,000
$26/hr
Cost of Living
88
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
3.2%
rate
Southaven, MS Overview
Population
55,026
Median Salary
$55,000
Average Salary
$60,500
Avg Commute
26 min
Median Home Price
$210,000
Median Rent
$1,050/mo
Job Growth
+1.5%
Sales Tax
7%
Southaven is located in Mississippi with a population of 55,026. The median household salary is $55,000 per year ($26/hour), which is $4,384 below the national median of $59,384. The average commute time is 26 minutes, and the city has a job growth rate of +1.5%.
Southaven Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Southaven, MS, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$43,646
$3,637.17/month · $1,678.69/biweekly · Effective Rate: 20.6%
Gross Pay
$55,000
Federal Tax
-$4,562
State Tax
-$2,585
Local Tax
$0
FICA
-$4,208
Net Pay
$43,646
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,583.33 | $55,000.00 |
| Federal Income Tax | -$380.13 | -$4,561.50 |
| Mississippi State Tax (4.7%) | -$215.42 | -$2,585.00 |
| Social Security (6.2%) | -$284.17 | -$3,410.00 |
| Medicare (1.45%) | -$66.46 | -$797.50 |
| Net Take-Home Pay | $3,637.17 | $43,646.00 |
Salary Comparison: Southaven vs Other Cities
See how Southaven's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Southaven, MS | $55,000 | 88 | $62,500 |
| National Average | $59,384 | 100 | $59,384 |
| Santa Ana, CA | $55,000 | 150 | $36,667 |
| Ontario, CA | $55,000 | 108 | $50,926 |
| New Haven, CT | $55,000 | 115 | $47,826 |
| Cape Coral, FL | $55,000 | 98 | $56,122 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Southaven
Southaven's cost of living index is 88 (national average = 100). Living in Southaven is 12% less expensive than the national average.
Median Home Price
$210,000
Median Monthly Rent
$1,050
Annual Rent Cost
$12,600
Your Salary's Purchasing Power
Your $43,646 annual take-home pay in Southaven has the purchasing power of approximately $49,598 in an average-cost US area. Your $55,000 salary stretches further here than in most US cities.
Top Industries in Southaven
Southaven's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $55,000.
Salary Tips for Southaven Workers
- Your salary goes further here. Southaven has a cost of living 12% below the national average. A salary of $55,000 here has the purchasing power of about $62,500 in an average-cost area.
- Research top industries. Southaven's top industries include Logistics, Healthcare, Retail. Targeting roles in these sectors can help you earn above the $55,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Southaven, MS?
The median salary in Southaven, MS is $55,000 per year, or $26 per hour. The average salary is $60,500. This is $4,384 below the national median of $59,384.
What is the cost of living in Southaven, MS?
Southaven's cost of living index is 88 (national average = 100), meaning it is 12% less expensive compared to the national average. The median home price is $210,000 and the median monthly rent is $1,050.
What are the best industries in Southaven?
The top industries in Southaven, MS include Logistics, Healthcare, Retail. The city has a job growth rate of 1.5% and an unemployment rate of 3.2%. Workers in these industries often earn above the city's median salary of $55,000.
How does Southaven's salary compare to other cities?
Southaven's median salary of $55,000 is 7.4% below the national median of $59,384. However, when adjusted for cost of living (index: 88), the real purchasing power is approximately $62,500.
What is the minimum wage in Southaven, MS?
The minimum wage in Southaven, MS is $7.25 per hour. This equals approximately $15,080 per year for a full-time worker (40 hours/week). This matches the federal minimum wage of $7.25/hour.