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These days, finding an affordable place to live in the Mississippi area can be challenging. Home prices in Mississippi are now at a median cost of $145,564, lower than the the United States average of $313,691.
The average cost of rent is $877/mo in Mississippi, primarily driven by the current value of real estate in the Mississippi area. While nearly 50.86% of residents own their homes outright in Mississippi, 30.14% rent.
Housing affordability isn’t just about home prices, though. The average household income in Mississippi is $4,727 per month. Households that rent pay about 18.54% of their income on rent here. Mississippi's most expensive areas are in the northeastern regions, while the cheapest areas are in the northwestern parts of the state.
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