Mississippi has the lowest home prices of any US state — but debt stress is severe
The typical home in Mississippi costs just $169,800, the lowest figure in the nation. But incomes are also among the lowest, and the Mississippi Delta is home to some of the highest credit card delinquency rates in the country — Sharkey, Humphreys, Tunica, and Jefferson counties all rank in the national top ten, with delinquency rates above 17%.
Good valuePopulation: 2,946,779
One of the most affordable states in the country for homebuyers.
Years of income to buy a home
3.0×
▼ 28% vs US average
Typical home price
$169,800
▼ 51% vs US average
Typical monthly rent
$954
▼ 27% vs US average
Renters paying too much for rent
43.6%
▼ 3% vs US average
Homeowners stretched thin
12.9%
▼ 20% vs US average
Typical household income
$56,447
▼ 30% vs US average
How to read the bars: the coloured bar is MS's value; the grey tick is the US average. "Paying too much" means spending more than 30% of income on housing — the standard economic threshold for cost burden.
What the data shows
Buying a home in Mississippi is still well within reach for most families. The typical home costs $169,800 — about 3.0× of the typical household income of $56,447 a year. That's one of the better ratios in the country. A family putting aside their entire income, with no other expenses, could cover the purchase price in around 3.0 years.
Renters face moderate pressure. The typical rent in Mississippi is $954 a month, and 44% of renters spend more than 30% of their income on housing — the point at which most financial advisers say rent becomes unaffordable. That figure is 3% lower than the national average of 45%.
12.9% of Mississippi homeowners with a mortgage spend more than 30% of their income on housing — close to the national average of 16.1%.
How Mississippi ranks nationally
Rank 1 = most expensive / highest burden. Compared against all 50 states and DC (51 in total).
Years to buy a home
47th
of 51 states
Typical home price
50th
of 51 states
Typical monthly rent
47th
of 51 states
Renters paying too much
34th
of 51 states
Common questions
Is Mississippi affordable to live in?
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Yes — Mississippi is one of the more affordable states in the US. The typical home costs $169,800, which is 3.0× of the typical household income. That puts it well below the national average.
What is the average rent in Mississippi?
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The typical monthly rent in Mississippi is $954, according to the 2024 American Community Survey. About 44% of MS renters spend more than 30% of their income on rent.
How much do you need to earn to buy a home in Mississippi?
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As a rough guide, you'd need a household income of around $42,000 a year to comfortably afford the typical Mississippi home of $169,800, assuming a 20% down payment and standard mortgage terms. The typical Mississippi household earns $56,447 a year.
Explore Mississippi county by county on the map
The state average is only part of the story. Drill into individual counties and census tracts to see where affordability varies most across Mississippi.