Quick facts: Horn lake, MS

Quick Facts

92.7
Cost of Living
below US average
26,550
Population
22.6
Crime Rate per 1000
below US average
$57,111
Median Income
below US average
$229,000
Median House Price
above US average
$1541.55
Average Rent
above US average
19%
Poverty Rate
above US average
3.7%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,111.

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Income Needed to Buy

βœ— Stretch
$72k/year
Based on $229,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $72k vs median $57,111
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Income Needed to Rent

⚠ Stretch
$66k/year
Based on $1541.55/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $66k vs median $57,111
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Horn lake, MS

Horn Lake is a vibrant city located in DeSoto County, Mississippi, just south of Memphis, Tennessee. With a population of around 27,000, it serves as a suburban community that offers a blend of small-town charm and easy access to the amenities of a larger city. The city is known for its friendly atmosphere, making it an attractive place for families and individuals alike. Horn Lake features several parks and recreational areas, including Horn Lake Park, which offers various outdoor activities such as walking trails, sports fields, and picnic areas. Additionally, the city's proximity to Memphis allows residents to enjoy a wide range of cultural and entertainment options, from music and dining to shopping and festivals. Horn Lake's growing economy benefits from its strategic location, with numerous businesses and retail options catering to the community. As part of the Memphis metropolitan area, it offers convenient access to major highways, making it easy to commute to work or explore neighboring cities. Overall, Horn Lake is a lively place to live, with a strong sense of community and plenty of opportunities for recreation and growth.

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