Home Affordability Calculator in Mississippi

In Mississippi, the median home costs $253K and the median household income is $59K/year. Find out how much house you can afford based on your income, debts, and down payment. Formula shown, sources cited — no account required.

Mississippi offers some of the best affordability numbers in the country. At a median home price of $253,000 against a median household income of $59,127, the price-to-income ratio sits at roughly 4.3 times — elevated compared to the comfortable three-to-four times guideline, but meaningful context is needed here. With a cost-of-living index of 86.0, Mississippi households have more disposable income per dollar earned than the national average, effectively improving real affordability. A 10% down payment requires saving $25,300, and the MHC Smart6 program can reduce that barrier for qualifying first-time buyers. Property taxes at just 0.65% keep monthly holding costs low — a key advantage for buyers stretching to reach a purchase. The Jackson metro, Hattiesburg, and the Gulf Coast are the most active markets, but even in those areas, inventory is generally plentiful and competition moderate compared to national standards. For buyers who want maximum square footage per dollar, Mississippi consistently ranks near the top. Use the affordability calculator to determine exactly what price range your income and savings can support in this market.

$253K

Median Home Price

$59K/yr

Median Income

10%

Avg Down Payment

86 / 100

Cost of Living

Know your real number before you decide.

Free. No email. The math is right there.

See all 20 calculators →

How Much House Can You Afford in Mississippi?

Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Mississippi's median income of $59,127/year ($4,927/month), that means a maximum housing payment of roughly $1,380/month.

At 6.65% over 30 years with a 10% down payment ($25,300), that monthly budget supports a purchase price of approximately $240,350–$253,000. The median home price in Mississippi is $253,000, which means housing is more affordable than the national average.

Questions You Might Ask — Home Affordability in Mississippi

How much house can I afford in Mississippi?

With the median household income of $59,127 in Mississippi, the 28% housing rule allows a maximum monthly payment of $1,380. At 6.65% over 30 years with 10% down, that supports a purchase price of roughly $240K. The median home in Mississippi is $253K.

What is the median home price in Mississippi?

The median home price in Mississippi is $253,000 (2026). Prices vary significantly by metro — urban areas typically run 20–50% above the state median, while rural areas may be well below. The cost of living index for Mississippi is 86 (100 = national average).

What income do I need to afford the median home in Mississippi?

To afford the $253K median home in Mississippi with a 10% down payment ($25,300) and 6.65% rate (30 years), you need a gross annual income of at least $69,127 — following the 28% rule. The state median household income is $59,127.

What debt-to-income ratio do lenders require in Mississippi?

Lenders in Mississippi (and nationwide) generally require a total DTI below 43% for conventional loans, with 36% preferred. FHA loans allow up to 50% DTI in some cases. This means your total monthly debt payments — mortgage, car loan, student loans, and credit cards — should not exceed 43% of your gross monthly income ($2,119 on the Mississippi median income).

How does Mississippi's cost of living affect home affordability?

Mississippi has a cost of living index of 86 (100 = national average). Mississippi's below-average cost of living is a significant affordability advantage — lower everyday expenses mean more of your income can go toward housing.

Data Sources & Methodology

Median home prices from the National Association of Realtors (NAR). Median household income from U.S. Census Bureau ACS. Mortgage rates from Freddie Mac PMMS. Affordability calculations use the 28/36 DTI rule per Fannie Mae guidelines. Last updated 2026.