The $100,000 Salary Analysis for Biloxi

This guide treats a $100,000 salary as raw data, not a lifestyle promise. Biloxi offers affordability, but taxes and inflation erode nominal income. We focus on Purchasing Power—what you actually keep and spend.

1. The Verification Test

A $100,000 salary is not $100,000 in your pocket. Deductions hit immediately. We estimate annual taxes based on standard 2023-2024 rates for a single filer taking the standard deduction.

• Gross Salary: $100,000
• Federal Tax: ~$14,000 (Effective rate ~14% after deductions).
• FICA (Social Security/Medicare): ~$7,650 (Flat 6.2% + 1.45%).
• Mississippi State Tax: ~$4,600 (Mississippi has a progressive tax; effective rate ~4.6% at this income. Note: MS is phasing this out, but for this calculation, we use current liability).
• Net Pay (Annual): ~$73,750
• Net Pay (Monthly): ~$6,145

Purchasing Power Reality: Your actual take-home is roughly 74% of your gross.

2. Smart Budget (50/30/20 Rule)

Using the $6,145 monthly net pay:

• Needs (50% = $3,072):
  • Rent (1BR Avg): $923
  • Utilities/Electricity: $200 (High humidity AC costs).
  • Groceries: $400
  • Transportation (Car Insurance/Gas): $300
  • Remaining for Needs: $1,249 (Buffer for health insurance premiums or maintenance).
• Wants (30% = $1,843):
  • Dining out, entertainment, shopping. Biloxi's casino and tourism economy offers options, but spending here accumulates fast.
• Savings/Debt (20% = $1,229):
  • This is your build-wealth number. If you have student loans or high-interest debt, this category vanishes quickly.

3. Biloxi Tax Context

Mississippi is not a "Tax-Free" state like Texas or Florida, but it is significantly cheaper than high-tax states.

• Vs. Texas/Florida: You lose ~$4,600 annually to state income tax here that you would keep in those states.
• Vs. California/New York: You save roughly $6,000 - $8,000 annually in state income tax compared to CA/NY at the $100k mark.
• Sales Tax: Biloxi sales tax is 7%. This is high and acts as a regressive tax, hitting your "Needs" and "Wants" equally.

4. FAQ

"Is $100k good here?"

• Realistically: Yes, it is a good salary. You live comfortably above the median household income. However, do not confuse "good" with "wealthy." You will budget carefully for major purchases (buying a home) and still feel the pinch of inflation.

"Local income tax?"

• No. Biloxi does not levy a local income tax. The only income taxes are Federal and Mississippi State.