Mississippi Housing Market: Home Prices, Rent and Affordability
The typical Mississippi home is worth $197,606, up 2.3% over the past year and up 12.5% over five years, 46.4% below the national $368,697 (latest release). That ranks #49 of 50 on price. A 20%-down mortgage runs $1,017 a month and takes about $55,591 of income; the median Mississippi household earns $59,127, enough to clear that bar.
In Jackson, the state's largest metro, typical rent is $1,506 a month against a $1,103 principal-and-interest payment on the typical home, so buying is $403 a month cheaper before taxes, insurance and maintenance. The market is cool: 24.2% of listings cut their price (national 26.4%), homes go pending in 72 days (national 53), and for-sale inventory is up 8.4% from a year ago.
All housing figures are the latest published numbers for August; median household income is from the Census Bureau.
Mississippi Housing by the Numbers
How much does a house cost in Mississippi? The typical home is worth $197,606, the median sale price is $263,833 and the median list price $277,967. The six figures below describe the market this month, each with the national comparison.
- Typical home
- $197,606
- #49 priciest · national $369K
- Mortgage payment
- $1,017/mo
- P&I, 20% down · national $1,897
- Income needed
- $56K
- median earns $59K (-6%)
- Rent, Jackson
- $1,506/mo
- +3.8% in 1 yr · national $1,948
- Price cuts
- 24.2%
- of listings · national 26.4%
- Days to pending
- 72
- national 53 · 11,751 for sale (+8.4%)
How Have Mississippi Home Prices Changed?
The typical Mississippi home value every month since 2000, with the national typical home as a dashed line. Values rose 2.3% over the past year, are up 12.5% over five years, up 43.9% over ten, and up 115% since January 2000.
- Peak
- $198,129
- April 2026 · now -0.3%
- 10-year change
- +43.9%
- national +77.9%
- Median sale price
- $263,833
- list price $277,967
- Payment, 1-yr change
- +3.1%
- Rates and prices combined
Is It Cheaper to Rent or Buy in Mississippi?
Two direct answers from the data. Rent versus buy sets typical asking rent in Jackson, the state's largest metro, against the mortgage payment on the typical home there, since rent indexes are published by metro rather than by state. The affordability gap is the income needed to buy the typical Mississippi home minus what the median household actually earns.
Rent vs. buy · Jackson, MS
Buying is $403/month cheaper
The payment excludes property tax (0.76% of value in Mississippi), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (12.5%), equity would narrow that gap over a long stay.
Affordability gap · #3 of 50
The median household can afford the typical home, with $3,536 to spare
A $1,017 monthly payment takes 20.6% of the median Mississippi household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%.
Full budget for your household →Is Mississippi a Buyer's or a Seller's Market?
Market temperature is our label from three market signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Mississippi is cool: it leans toward buyers: two of the three market signals point cooler than the national market.
Median sale price $263,833 against a median list price of $277,967, so the typical home closes 5.1% below asking.
Where the Mississippi market is heading
Compared with a year ago, all three signals point looser, in buyers' favor: the share of listings with a price cut is up 0.5 points from a year ago to 24.2%, homes take 10 days longer to go pending than a year ago (72 now), and the number of homes for sale is up 8.4%. The typical home value rose 2.3% over the same period and is 0.3% below its April 2026 peak of $198,129. We publish no forecasts: these are the current-month readings, not a prediction of where Mississippi home prices go next.
Home Values and Rents in Mississippi Cities
A city-level home value or rent is available for 20 of the Mississippi cities we track. The most expensive is Oxford ($416,262) and the cheapest Greenville ($53,407). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Jackson | 146,631 | $86,367 | +1.1% | ||||
| Gulfport | 73,003 | $206,071 | +2.0% | ||||
| Southaven | 56,226 | $273,007 | +1.5% | ||||
| Biloxi | 48,861 | $238,012 | +3.0% | ||||
| Hattiesburg | 48,619 | $221,289 | +3.0% | ||||
| Olive Branch | 47,019 | $332,043 | +1.0% | ||||
| Tupelo | 37,791 | $215,014 | +5.6% | ||||
| Meridian | 34,137 | $115,679 | +1.3% | ||||
| Greenville | 28,166 | $53,407 | -6.2% | ||||
| Madison | 27,946 | $414,316 | +0.6% | ||||
| Pearl | 27,737 | $211,439 | +4.4% | ||||
| Clinton | 27,195 | $238,090 | +2.0% | ||||
| Horn Lake | 26,647 | $202,312 | +0.8% | ||||
| Oxford | 26,411 | $416,262 | +3.3% | ||||
| Starkville | 25,721 | $285,560 | +3.7% | ||||
| Brandon | 25,542 | $290,329 | +2.7% | ||||
| Ridgeland | 24,587 | $285,651 | +1.7% | ||||
| Columbus | 23,348 | $179,537 | +2.9% | ||||
| Pascagoula | 21,710 | $143,942 | -0.5% | ||||
| Vicksburg | 20,589 | $149,319 | -0.1% |
Home value and rent are city-level indexes; population and median household income are Census ACS. Cities without a published index are omitted.
All Mississippi cities ranked →How Mississippi Compares With Nearby States
The South states closest to Mississippi on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Mississippi
Mississippi dashboard
Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Mississippi
Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Mississippi
IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Mississippi Housing Market FAQ
What is the average house price in Mississippi?
$197,606 is the typical Mississippi home value according to the latest release of the home value index, which tracks homes in the middle third of the market. The median sale price was $263,833 and the median list price $277,967. That makes Mississippi the #49 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Mississippi?
No. The typical Mississippi home value rose 2.3% over the past year, though it remains 0.3% below its April 2026 peak of $198,129. Over five years it is up 12.5% and over ten years up 43.9%. Nationally, values rose 1.2% over the year.
How have Mississippi home prices changed over the past 1, 5 and 10 years?
+2.3% over one year, +12.5% over five years and +43.9% over ten years for the typical Mississippi home value, per the latest release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Mississippi home is up 115%. The monthly chart above shows the full series against the national line.
Will the Mississippi housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Mississippi home value is 0.3% below its April 2026 peak of $198,129 after it rose 2.3% over the past year; 24.2% of listings have cut their price (national 26.4%), homes go pending in 72 days (national 53), and inventory is up 8.4% from a year ago, per Zillow Research. The largest decline in the monthly value series for Mississippi was 10.4% from November 2007 to April 2012, and values took 38 months to regain that peak.
Is it a good time to buy a house in Mississippi?
The Mississippi market is cool right now, which means it leans toward buyers: two of the three market signals point cooler than the national market. 24.2% of listings cut their price (national 26.4%), homes go pending in 72 days (national 53), and for-sale inventory is up 8.4% from a year ago. Affordability is better than most states: the $55,591 of income needed to buy the typical home is below the median household income of $59,127. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Mississippi a buyer's or seller's market?
Mississippi leans toward buyers. Fewer listings are cutting prices than the national average (24.2% vs. 26.4%), homes take 72 days to go pending (national 53), and the number of homes for sale is up 8.4% from a year ago at 12K listings. Two of those three signals point toward buyers.
What is the average rent in Mississippi?
In Jackson, Mississippi's largest metro, the typical asking rent is $1,506 a month, up 3.8% over the past year and up 26.1% over five years, per the rent index. The national typical rent is $1,948. Among Mississippi cities we track, rents range from $840 to $2,348 a month.
Is it cheaper to rent or buy in Mississippi?
Buying is cheaper month to month in Jackson, Mississippi's largest metro. Typical rent is $1,506 and the principal-and-interest payment on the typical home with 20% down is $1,103, a difference of $403 a month in favor of buying. The payment excludes property tax (0.76% of value in Mississippi), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Mississippi?
About $55,591 a year, using the standard assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Mississippi household earns $59,127, so the typical household clears the bar with $3,536 to spare. That is the #3 smallest affordability gap of the 50 states. The monthly payment of $1,017 equals 20.6% of the median household's income.
Where are homes cheapest and most expensive in Mississippi?
Among the Mississippi cities we track with a published home value, the most expensive typical home is in Oxford ($416,262) and the cheapest in Greenville ($53,407). Also at the top: Madison ($414,316), Olive Branch ($332,043), and Brandon ($290,329). The city table above lists every tracked Mississippi city with its value, one-year change and rent.
How does Mississippi compare with nearby states?
In the South, the closest comparisons on price are West Virginia ($179,496, up 3.1% in a year), Louisiana ($217,039, up 2.1% in a year), and Oklahoma ($223,261, up 2.8% in a year). Mississippi's typical home is $197,606, up 2.3%. On affordability, Mississippi ranks #3 of 50 versus West Virginia at #1, Louisiana at #14, and Oklahoma at #7.
How current is the Mississippi housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →