The median home price in Mississippi is $169,792 which has been maintained since the last year. The Mississippi housing market has witnessed a 6.6% year-over-year increase in the number of homes listed. There is a 5-month supply left. This gives buyers ample options to choose from, creating a buyer-favorable market.
As per our research, home prices are relatively higher in southern cities like Biloxi. On the other hand, as you move towards the inland cities of the Hospitality State like Jackson, you can find cheaper housing options.
4 Reasons to live in Mississippi 🦋
- Cheaper Houses: The median home sale price in Mississippi is ~169K. But you can get houses between $61K and $115K in cities like Jackson, Greenwood, and Grenada.
- Tax Benefits: Mississippi provides pre-tax benefits for state employees, allowing them to contribute to eligible expenses through different plans.
- Affordable Healthcare: Healthcare in cities mentioned in this blog is up to 19% lower than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than the national average. You can save up to $1350 per month in rent.
Cheapest Places to Live in Mississippi in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Jackson | $39,969 | $59,779 | 156,803 | 2.5% | 26.1% |
| Yazoo City | $30,092 | $62,908 | 10,887 | 3% | 39.1% |
| Greenville | $32,066 | $64,308 | 30,175 | 5.5% | 32.4% |
| Greenwood | $28,221 | $78,360 | 14,521 | 9.5% | 30% |
| McComb | $32,515 | $91,387 | 12,400 | 7.8% | 35.5% |
| Meridian | $31,198 | $104,972 | 35,625 | 2.8% | 30.4% |
| Grenada | $34,771 | $115,067 | 12,675 | 3.1% | 30.2% |
7 Cheapest Places to Live in MS
The annual population decline of 1% since 2010 has created a favorable environment for property buyers, especially in terms of affordability. If you’re considering shifting to Mississippi, here are some cities that offer affordable living options:
1. Jackson
| 🟢 Cost of Living Compared to National Average | 23.9%⬇️ |
| 🏡 Median Home Price | $59,779 |
| 💲 Median Rent | $1,095 |
| 🌅 Known For | Old Capitol Museum |
Jackson is an affordable place to live in Mississippi. Its median house rent ranges from $180 – $10,500. It also offers affordable transportation which is 16.4% lower than the national average.
Jackson thrives as a vibrant city in the heart of the Deep South, offering cultural attractions like the Mississippi Museum of Art and the Old Capitol Museum. Residents can delve into history and art in Jackson.
Additionally, the city hosts organizations like the Better Business Bureau and Downtown Jackson Partners. These organizations help the growth of local businesses.
» Homes for Sale in Jackson, MS: Find your dream home in this city.
2. Yazoo City
| 🟢 Cost of Living Compared to National Average | 26.6%⬇️ |
| 🏡 Median Home Price | $62,908 |
| 💲 Median Rent | $638 |
| 🏞️ Known For | Wardell Leach Recreation Complex |
Yazoo City is one of the most budget-friendly rental destinations in Mississippi with home rents that are up to $1300 cheaper than the national average. It also offers affordable groceries 5.2% lower than the national average.
Yazoo City offers diverse activities including visits to Robinson Brothers Automotive and The Flower Box. Outdoor enthusiasts can enjoy biking and fishing in nearby lakes and streams.
The Yazoo County Tourism Association provides information on local attractions and events. Residents unite at sporting events, like basketball games at Yazoo City High School, fostering community spirit.
» Homes for Sale in Yazoo City, MS: Browse thousands of property listings in Yazoo.
3. Greenville
| 🟢 Cost of Living Compared to National Average | 30.2%⬇️ |
| 🏡 Median Home Price | $64,308 |
| 💲 Median Rent | $1,200 |
| 🏖️ Known For | Greenville Cypress Preserve |
With rental costs below the national average, Greenville stands as one of the most affordable cities to live in Mississippi. The house rent price is between $950 – $2,100.
Greenville, MS, nestled in the Mississippi Delta, boasts a welcoming atmosphere, reasonable living expenses, and a lively music culture. The city hosts various employers like Tyson Foods, Walmart Distribution Center, and LULAC Corporation, providing ample job opportunities for residents.
» Homes for Sale in Greenville, MS: View all the properties for sale in this city.
4. Greenwood
| 🟢 Cost of Living Compared to National Average | 34.1%⬇️ |
| 🏡 Median Home Price | $78,360 |
| 💲 Median Rent | $525 |
| 🏖️ Known For | The Winery at Williams Landing |
Greenwood offers budget-friendly living with a median rent of $1,475 lower than the national median. With utility costs being 4.2% lower than the national average, the city stands out as one of the most inexpensive places to live in Mississippi.
Greenwood, MS, located south of Jackson, is famous for landmarks such as Bevens Creek Missionary Baptist Church (1868) and Rathbone Cemetery, honoring veterans. The community hosts lively events like the Cotton Pickin’ Festival, fostering local camaraderie annually.
» Homes for Sale in Greenwood, MS: Browse through thousands of affordable properties.
5. McComb
| 🟢 Cost of Living Compared to National Average | 27.2%⬇️ |
| 🏡 Median Home Price | $91,387 |
| 💲 Median Rent | $755 |
| 🎨 Known For | Sugar Beets |
Often referred to as the ‘Rural City,’ McComb’s cost of living is 27.2% lower than the state average. The utility expenses are 4.9% lower than the national average.
McComb is a family-friendly destination, ideal for outdoor enthusiasts with activities like fishing, camping, and hiking available year-round.
Additionally, residents can enjoy various sporting events like baseball, basketball, and football. The city boasts a diverse range of local businesses, including restaurants, shops, and entertainment venues.
» Homes for Sale in McComb, MS: Browse through thousands of properties in McComb.
6. Meridian
| 🟢 Cost of Living Compared to National Average | 26.9%⬇️ |
| 🏡 Median Home Price | $104,972 |
| 💲 Median Rent | $1,000 |
| 🏫 Known For | Lake Okabena |
The house rent in Meridian is between $495 – $3,200. With an average household income of $32,797, you can comfortably live in this city.
Meridian is a compelling real estate choice for outdoor enthusiasts seeking affordable living in Mississippi. The annual cost for housing, food, health care, and other essentials for a single adult in Meridian is $32,802.
» Homes for Sale in Meridian, MS: Find a home in one of the cheapest places to live in Mississippi.
7. Grenada
| 🟢 Cost of Living Compared to National Average | 29.2%⬇️ |
| 🏡 Median Home Price | $115,067 |
| 💲 Median Rent | $775 |
| 🖼️ Known For | Schwan Food Company |
Grenada is indeed one of the best places to live in Mississippi, with a slight year-over-year median home price decline of 2.1% in December 2023. The annual expenditure on food for an individual amounts to $3,364. This makes it one of the most budget-friendly options across the country.
Grenada is renowned for its stunning natural beauty. The city has a strong connection to agriculture, food production, and bioscience, which are integral to its history, culture, and economy.
» Homes for Sale in Grenada, MS: Get yourself a home in Grenada.
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Bottom Line
The cost of living in Mississippi is 16% lower than the national average. Nevertheless, it is still home to some of the most expensive cities in America. However, if you want to shift to Mississippi, you can find affordable housing in cities like Jackson, Grenada, and Greenwood.
Cities like McComb and Meridian have a slightly expensive cost of living but provide better job opportunities. It would be best if you researched the city’s home prices and living costs before relocating.
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Research Methodology
We’ve created this list by considering the cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Mississippi, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, Zillow, and Best Places.
Frequently Asked Questions
Where is the cheapest place to live in Mississippi?
The cheapest place to live in Mississippi is Jackson. It offers one of the most affordable utilities in the state, which is 12.8% lower than the national average.
» 7 Cheapest Places to Live in Mississippi: Find out the other cheapest places to live in Mississippi.
Is Mississippi the cheapest place to live in?
No, it is not. The median home value is $169,792. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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