The $100,000 Salary Analysis for Meridian

This guide assumes a single filer taking the standard deduction. No dependents. No state-level deductions. Numbers are estimates based on 2023-2024 tax brackets.

1. The Verification Test

Gross Salary: $100,000

Federal Income Tax: ~ $13,888
(Based on 2023 Single Filer brackets; includes 22% marginal rate applied to taxable income after standard deduction)

FICA (Social Security & Medicare): ~ $7,650
(6.2% SS up to wage base limit + 1.45% Medicare)

Mississippi State Income Tax: ~ $4,600
(Mississippi has a flat tax of 4.7% on income over $10,000. This is an estimate.)

Total Deductions: ~ $26,138

Net Pay (Take-Home): ~ $73,862
(This is roughly $6,155 per month)

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

Based on the $73,862 net annual income ($6,155 monthly).

Needs (50%): $3,077/month

• Rent (1BR): $750 - $900 (Average for Meridian).
• Utilities: $150 - $200 (Electric, Water, Internet).
• Groceries: $350.
• Car Payment/Gas: $400 (Assumption: Reliable used car).
• Remaining buffer: ~$1,300 (Covers insurance, phone, potential medical).

Wants (30%): $1,846/month

• Dining out, entertainment, hobbies, travel.
• Note: In Meridian, this amount goes far. You likely won't spend this full amount unless you are a heavy traveler.

Savings/Debt (20%): $1,231/month

• Retirement (401k/IRA), Student Loans, Emergency Fund.

3. Meridian Tax Context

Mississippi is not a tax haven, but it is moderate.

• Vs. Texas/Florida (0% State Tax): You lose roughly $4,600 annually to the state compared to living in Houston or Orlando.
• Vs. California/NY (High Tax): You save roughly $6,000 - $8,000 annually in state taxes compared to living in LA or NYC.
• Purchasing Power: Meridian has no "City Income Tax," which keeps the burden lower than places like Philadelphia or NYC.

4. FAQ

"Is $100k good here?"
Yes. It is a high earner status for the area. The median household income in Meridian is roughly $35,000. You are earning nearly 3x the local average. Your purchasing power is high; you can afford a mortgage on a nice home and drive a new car.

"Local income tax?"
No. Meridian does not levy a local city income tax. You pay Federal and Mississippi State only.

"Rent is listed as $None."
Correct. We do not provide real-time listing prices. Based on aggregate data, 1BR apartments range from $750 to $950. If you find one for less, your "Needs" budget surplus increases significantly.