Collins, MS vs Lake City, AR: Cost of Living

Which city costs less?

Lake City, AR has a modeled overall cost index 1.5% lower than Collins, MS.

Collins, MS · modeled 2BR rent
$950 / month
Lake City, AR · modeled 2BR rent
$930 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare Collins, MS and Lake City, AR using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

$
Numbers update automatically as you type

Estimated savings: $72.25/month in Lake City, AR

$150,000 in your current city has a modeled equivalent of $149,133 in Lake City, AR

Regional cost estimates: Collins, MS uses New Orleans, LA. Lake City, AR uses Memphis, TN. Available city ZIP rent estimates are shown separately.
Overall Cost
↓ 1.5%
Less expensive
Monthly Impact
$72.25
Savings
Annual Impact
$867
Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Collins, MS

Population:2K
Cost Index:
78.7
100 = national average
Typical Home:$152K

Lake City, AR

Population:3K
Cost Index:
77.5
100 = national average
Typical Home:$157K

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Collins, MS

The Magnolia State

2K
Population
State Tax
Yes

Located in Mississippi, this city has a population of 2K residents.

Lake City, AR

The Natural State

3K
Population
State Tax
Yes

Located in Arkansas, this city has a population of 3K residents.

Cost Breakdown by Category

Estimated monthly spending: Collins, MS vs Lake City, AR

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Housing
↓ 15.2%
Collins, MS
$2,177
Lake City, AR
$1,846
Difference
$330
less
Transportation
↑ 9.9%
Collins, MS
$1,257
Lake City, AR
$1,382
Difference
$125
more
Healthcare
↑ 17.3%
Collins, MS
$526
Lake City, AR
$617
Difference
$90.78
more
All Utilities
↑ 14.3%
Collins, MS
$543
Lake City, AR
$621
Difference
$77.50
more
Other
↓ 2.7%
Collins, MS
$1,914
Lake City, AR
$1,861
Difference
$52.24
less
Groceries
↑ 1.6%
Collins, MS
$1,083
Lake City, AR
$1,100
Difference
$17.31
more

🏠Rent Comparison

Studio
From$740
To$720
↓ $20.00
1 Bed
From$800
To$780
↓ $20.00
2 Bed
From$950
To$930
↓ $20.00
3 Bed
From$1,260
To$1,250
↓ $10.00
Collins, MSZIP-level data

1BR range: $800–$800/mo

Lake City, ARZIP-level data

1BR range: $780–$780/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500
Monthly in Collins, MS
$7,428
Monthly in Lake City, AR
$72.25
Difference

Home Values

Collins
Lake City
$152K
Median Value
$157K
↓ -4.2%
YoY Change
↑ +1.7%
↑ +25.9%
5-Year Change
↑ +34.4%

Homes in Lake City are 3% more expensive than Collins

Calculate payment - CollinsCalculate payment - Lake City

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
↓ $1.7K
More taxes
Monthly Difference
$139
Less take-home
Effective Rate Diff
1.1%
Rate difference

Collins, MS

Federal Income Tax
Effective: 18.9%
$25.5K
Mississippi State Tax
Effective: 4.9%
$7.3K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 29.6%
$44.4K
Take-Home Pay
$8,803/month
$105.6K

Lake City, AR

Federal Income Tax
Effective: 18.9%
$25.5K
Arkansas State Tax
Effective: 6.0%
$9.0K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 30.7%
$46.0K
Take-Home Pay
$8,664/month
$104.0K

Additional Tax Information

Collins, MS Tax Rates

Sales Tax:7.1%
Property Tax:0.6%

Lake City, AR Tax Rates

Sales Tax:9.4%
Property Tax:0.6%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Collins
Lake City
41 Good
Air Quality
55 Moderate
70.2%
Good Air Days
34.4%
98 High
Climate Risk
99 High
🌊🌀🌡
Top Hazards
🌊🌡🫨
▲+2.2°F
2050 Outlook
▲+2.8°F
46 days
Heat Days >95°F
54 days
▲+2.2°F
2050 Outlook
▲+2.8°F
46 days
Heat Days >95°F
54 days

Before moving from Collins, MS to Lake City, AR

Use this comparison to shortlist a move, then check the costs that depend on your household.

  1. Compare actual homes. Get current quotes in Lake City, AR for the same bedroom count and included utilities as your home in Collins, MS. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
  2. Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
  3. Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
  4. Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Collins to Lake City moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Lake City, AR by cost, housing, population and region.

Frequently Asked Questions: Collins, MS vs Lake City, AR

How do the cost estimates for Collins, MS and Lake City, AR compare?

Lake City, AR has a modeled overall cost index 1.5% lower than Collins, MS. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Collins, MS, the model estimates $149,133 in Lake City, AR. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Collins, MS and Lake City, AR?

The modeled two-bedroom rents are $950/month in Collins, MS and $930/month in Lake City, AR. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Mississippi and Arkansas on TaxTakeHome.com

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