Mississippi Homes for Sale Under 400K

10,742 Homes for Sale

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Mississippi Housing Market Overview

Mississippi is a balanced market, giving buyers and sellers room to negotiate. With 4 months of supply and homes averaging 55 days on the market, you can make decisions without the pressure of a highly competitive market.

Status

Balanced Market

Days on Market

55

Inventory

10,742

Aug 2021May 2024Aug 2026

Median Home Price

$272,763Down 0.81%

In Aug 2026 · YoY

Aug 2021May 2024Aug 2026

Mortgage Rates 30-Yr Fixed

6.23%Down 0.58%

Current rate · YoY

Loan Type

30-Year Fixed

Housing Supply

Homes For Sale
10,742 Up 50.34%
Newly Listed Homes
2,203 Up 7.31%
Months of Supply
4 Up 97.91%

Housing Demand

Homes Sold
1,898 Down 30.83%
Sale-to-List Ratio
98.5% Up 2.25%
Homes Sold Above List
13.3% Up 36.02%

30-yr fixed rate 6.23% · Data as of Aug 2026 · Source: Houzeo Research.

View Full Mississippi Market Report
No. of Homes
Prices
Days on Market
Homes for Sale in Jackson
2,234
$140,250
-
Homes for Sale in Gulfport
1,055
$250,000
68
Homes for Sale in Biloxi
656
$311,900
63
Homes for Sale in Ocean Springs
564
$309,850
61
Homes for Sale in Hattiesburg
135
$322,900
62

Frequently Asked Questions

Where is the cheapest place to buy a house in Mississippi?

Jackson is the most affordable city to buy a home in Mississippi, with a median price of $78,333. The cost of living is about 26.1% lower than the national average.

Other budget-friendly cities include Yazoo City, Greenville, and Greenwood, where average home prices are under $100K. These areas also offer a lower overall cost of living compared to most of the US.

What is the average cost of a house in Mississippi?

The average home price in Mississippi is around $272,800. Prices have increased by 2.8% compared to last year. Overall, the cost of living in Mississippi is about 13% lower than the national average.

How many homes are available for sale in Mississippi?

There are currently 8,473 homes for sale in Mississippi. Of these, 16 are Mississippi's hot properties and 24 are Mississippi homes without HOA fees.

What are the average HOA fees in Mississippi?

The average HOA fee in Mississippi is around $396 per month, which is slightly below the national average. Fees vary depending on location, property type, and amenities offered in the community.

In larger cities like Jackson or Gulfport, condo owners may pay anywhere from $200 to $500 monthly. HOA fees tend to be higher in gated communities or buildings with amenities like pools, gyms, or security services.

For single-family homes in HOA neighborhoods, fees usually range between $250 and $450 per month. These often cover services like landscaping, road maintenance, and shared amenities. It's important to check what's included before purchasing a home in an HOA.

What is the average utility cost in Mississippi?

The average monthly utility cost for a family in Mississippi is around $253. This includes electricity, natural gas, water, sewer, and trash services.

Electricity costs typically range between $120 and $150, natural gas around $50 to $70, and water, sewer, and trash combined add about $50 to $60. During the summer, costs may rise due to higher air conditioning use.

If you include internet and phone services, the total monthly utility bill can go up to $310 to $360. Overall, Mississippi's utility costs are in line with or slightly below the national average, thanks to low energy rates and mild winters.

Is it smarter to rent or buy a home in Mississippi?

Buying a home is often the smarter long-term choice in Mississippi's housing market. The average home price is around $272,800, and property taxes are among the lowest in the country. Monthly mortgage payments are usually close to or even less than rent in many parts of the state.

Renting in Mississippi costs about $1,000 to $1,300 per month for a two-bedroom, depending on the location. While renting offers flexibility and lower upfront costs, it doesn't build equity or provide long-term financial stability.

If you plan to stay several years, buying typically provides better value. A mortgage calculator can help estimate monthly payments and compare them with local rent prices to guide your decision.

Is Mississippi a good place to live?

Yes, Mississippi is a good place to live for those who value low housing costs, warm weather, and a slower pace of life. The cost of living is approximately 16.7% lower than the national average, making everyday expenses, such as housing, groceries, and utilities, more affordable.

One of the top cities in the state is Oxford, home to the University of Mississippi. It offers a lively downtown, good schools, and a strong sense of community. The median home price in Oxford is around $492,500, reflecting its popularity and quality of life.

Mississippi also has plenty of nature, quiet small towns, and mild winters. However, healthcare and education rankings are lower, and job options can vary. Still, for families, retirees, or anyone looking for affordable Southern living, it's a solid choice.

What's the safest place to live in Mississippi?

Madison is considered the safest city in Mississippi. It has a violent crime rate of just 0.3 and a property crime rate of 4.1 per 1,000 residents. Both are well below the national average. The city is known for strong schools, clean neighborhoods, and a high quality of life.

Other safe cities include Brandon, Petal, and Hernando. These places offer low crime, strong community values, and family-friendly environments. They are top choices for anyone seeking safety and stability in the state of Mississippi.

Can a foreigner buy a house in Mississippi?

Yes, foreigners can buy residential property in Mississippi. There are no restrictions based on citizenship or residency.

However, foreign buyers are limited to 5 acres for residential use and 320 acres for agricultural land. Financing can also be challenging, as most lenders require a down payment of 20% to 30%, proof of income, and a US tax ID.

What are the disadvantages of moving to Mississippi?

Limited healthcare access: Mississippi ranks low in healthcare, with fewer hospitals and doctors in many areas. This can make it harder to find timely or specialized care.

Higher poverty levels: The state has a higher poverty rate than most, which can affect access to strong public services and job opportunities in certain areas.

Challenging weather conditions: Summers are hot and humid, and some regions experience storms or hurricanes. This may increase energy costs or require extra storm preparation.

Lack of public transportation: Most towns and cities don't have widespread transit options. Owning a car is often necessary for daily travel.
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    Based on information from MLS United, LLC. through Sep 21, 2026, 7:00 AM. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. © 2026 MLS United, LLC. All Rights Reserved.

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Mississippi Housing Marketlink qauare
Homes Available icon

10,742

Homes Available

Median List Price icon

$ 272,763

Median List Price

Avg on Market icon

55 Days

Avg on Market

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