Buying a house in Mississippi: What you should know

Looking to buy your first home or relocate? Consider moving to Mississippi. Its housing costs are at least 40% below the national average, it offers an affordable cost of living, and it provides Southern charm you won't find anywhere else.

Read on to learn more about the state's real estate market, the pros and cons of deciding to buy a house in Mississippi, and how to navigate the homebuying process in this state.

Why should you consider living in Mississippi?

Let's look at what draws many to living in Mississippi:

• Affordable homes: Mississippi's housing costs are at least 40% below the national average, making it one of the cheapest states to buy a house.
• Low cost of living: The cost of living in Mississippi is nearly 14% lower than the national average, which means your income will stretch further here.
• Higher education options: Mississippi has 23 colleges and universities, including eight public universities, four research institutions, and 15 community colleges.
• Below-average crime rate: Mississippi's violent crime rate in 2024 was 41% below the national average. The property-crime rate for the same year was 23% lower than the national average.
• Southern hospitality and community: Locals are known for their warmth, friendliness, and willingness to help each other and build lasting relationships.
• Natural beauty and warm climate: Mississippi is home to several parks, lakes, and rivers, offering natural beauty and ample outdoor recreation options. Plus, its humid subtropical climate offers long, hot summers.
• Tax-friendly environment: Mississippi is the most tax-friendly state for retirees. Of all states that don't tax retirement income, it has the lowest property taxes.

That said, living in Mississippi also has some risks. For example, some areas are prone to thunderstorms, flooding, and hurricanes, while others may have limited job opportunities.

Mississippi housing market: At a glance

Here's a snapshot of the Mississippi real estate market as of September 2025:

Mississippi real estate market trends

Before buying a home in Mississippi, consider the following housing trends:

Home prices

In September 2025, Mississippi's median home price was $263,400, more than 40% below the national median of $435,285. It was also up from the state median 5 years ago, which was $198,800. In other words, homeowners in Mississippi benefit from affordable housing and home appreciation.

Some of the key factors that affect Mississippi home values include:

• Location: For example, the median home price is higher in Oxford at $479,950,  and Madison at $347,500, than in Jackson at $138,750 and Gulfport at $207,000.
• Property type: A property's size, age, condition, and features all affect what sale price it can command.
• Local amenities: Home buyers often pay a premium to live near good school districts, entertainment, outdoor recreation, dining, and more.

To estimate how much house you can afford in a particular Mississippi ZIP code, enter your details into this free home affordability calculator from Rocket Mortgage®. For example, if you had a state median household income of $54,203, a 720-plus credit score, zero debt, and $10,000 to put down, you could comfortably afford a home price of $202,719 in Clinton, Mississippi.

Housing demand vs. inventory

Much of Mississippi's housing market can be explained by supply and demand.

Between June and August 2025, there were more than 1,000 people searching to move into Mississippi versus out of the state on Redfin, indicating high demand.

Meanwhile, the number of homes for sale in Mississippi jumped by 5.3% from a year earlier, indicating an expanding supply. In other words, Mississippi's housing market is balanced and growing.

For more local Mississippi housing statistics and predictions, find a reputable real estate agent.

Home buying seasons

The most popular times to buy a house in Mississippi are late spring and summer, when warmer weather and the end of the school year make it easier to move. This is when home inventory tends to be at its peak. However, buying in the fall or winter can have its advantages. For example, you may face less competition and lower prices. Ultimately, the best time of year to buy a house in Mississippi depends on your priorities.

Best places to live in Mississippi

When choosing where to live in Mississippi, carefully weigh your finances, preferred lifestyle, work and education needs, and the climate. Here are some of the best cities in Mississippi:

Jackson

• Population: 143,633
• Median household income: $42,336
• Median home price: $138,750
• Crime and safety grade: D-
• Public school quality grade: C

Jackson is the capital and most populous city of Mississippi. It offers a diverse economy, outdoor recreation opportunities, and a low cost of living. Plus, it has a rich soul music heritage and access to quality health care and other urban amenities.

In August 2025, the city's unemployment rate was 3.8%, lower than the national rate of 4.3%. However, the city suffers from a relatively high crime rate of 40.5 crimes per 1,000 residents, which is higher than 95% of cities in the United States.

If you're raising a family, some of Jackson's suburbs include family-friendly cities such as Madison, Flowood, and Clinton.

Oxford

• Population: 26,086
• Median household income: $59,901
• Median home price: $479,950
• Crime and safety grade: B-
• Public school quality grade: A

Oxford is a small college town. As home of the University of Mississippi, aka "Ole Miss," it offers quality academic and sports programs as well as college arts and entertainment attractions.

Meanwhile, the town has a low cost of living compared to the rest of the U.S. while still offering access to quality health care, not to mention a vibrant culture and community.

That said, housing can be more expensive in Oxford than in other places in Mississippi. The median home price is $479,950, which is $216,550 more than the state median of $263,400.

Hattiesburg

• Population: 48,507
• Median household income: $44,140
• Median home price: $222,000
• Crime and safety grade: C
• Public school quality grade: B+

Hattiesburg is a small city located an hour and a half from each of the following: Jackson, New Orleans, the Gulf Coast, and Mobile, Alabama. It also has a low cost of living and strong job opportunities. Plus, its rural feel makes it ideal for nature lovers. For those interested in higher education, the city also has two universities.

That said, newcomers should know that the crime rate in Hattiesburg is 44.97 per 1,000 residents, higher than 97% of cities. However, not all areas are equally dangerous. Some of the best nearby suburbs to live in include Petal and Glendale.

Gulfport

• Population: 72,824
• Median household income: $47,564
• Median home price: $207,000
• Crime and safety grade: C
• Public school quality grade: B+

Gulfport is a city on the Gulf Coast and the second-largest city in Mississippi. New residents can expect stunning beaches, lots of outdoor recreation opportunities, a low cost of living, an international airport, and business-friendly regulations that boost the city's economy.

However, Gulfport also has downsides, including a high risk of hurricanes and high crime rates.

Southaven

• Population: 55,531
• Median household income: $76,159
• Median home price: $298,000
• Crime and safety grade: C+
• Public school quality grade: B+

Southaven is a small city just across the Mississippi-Tennessee border from Memphis. As a result, it offers close access to Memphis's amenities, including its health care facilities.

Meanwhile, Southaven itself is one of the fastest-growing cities in Mississippi, known for its strong family culture, low cost of living, and great food scene.

That said, Southaven has a relatively high crime rate and isn't very walkable, so it's best to have a car and to choose one of its safer neighborhoods to live in.

Biloxi

• Population: 49,011
• Median household income: $55,958
• Median home price: $253,720
• Crime and safety grade: C
• Public school quality grade: A

Biloxi is another city on the Gulf Coast, right next to Gulfport. It offers beautiful coastlines, a diverse culture, a mild year-round climate, and lots of water sports and other outdoor activities.

On the flip side, public transportation options are limited, the economy is heavily dependent on tourism, and the area is prone to hurricanes.

Still, Biloxi's real estate market is booming, with median home prices steadily rising. Those who buy a home now may benefit from long-term appreciation.

Tupelo

• Population: 37,825
• Median household income: $66,314
• Median home price: $199,900
• Crime and safety grade: C
• Public school quality grade: A

Tupelo is a small city in northern Mississippi famous for being the birthplace of Elvis Presley. Today, its art scene remains alive and well. Plus, the town has excellent food options and a highly rated public school system.

However, the town may not be ideal for those seeking nightlife and other urban amenities. But if you're looking for a low cost of living and low home prices, Tupelo is hard to beat.

How to buy a house in Mississippi

If you're ready to buy a house in Mississippi, follow these steps:

1. Get your finances in order: Assess your credit, income, debt, and savings to determine what size house you can afford. Enter your details into our home affordability calculator for a quick estimate.
2. Explore your mortgage options: Conventional loans and government-backed loans each have their pros and cons. Check out our home loans to see which type of mortgage best suits your needs.
3. Research Mississippi's home-buyer assistance programs: For example, the city of Vicksburg offers down payment assistance for eligible first-time home buyers.
4. Consider finding a real estate agent: They can help you understand the local housing market, find a home, make an offer, negotiate with sellers, and more.
5. Shop for the right place in Mississippi: Choose a city that meets your budget, lifestyle preferences, and family needs.
6. Make an offer and negotiate: After you make an offer, the seller may accept, reject, or counter it. Respond accordingly and be prepared to negotiate.
7. Complete the closing process: Closing on a house typically involves transferring funds to an escrow agent and signing closing documents.

FAQ

Here are answers to some frequently asked questions about buying a house in Mississippi:

Is it a good time to buy a house in Mississippi?

It can be. Mississippi home prices are relatively affordable and rising, and the number of homes for sale is up from last year, offering more selection. However, whether it's a good time to buy a house in Mississippi ultimately depends on your personal finances and goals.

How much do I have to put down on a Mississippi home?

Some government-backed loan programs require no down payment. Some conventional loans require as little as 3% down. The more you put down, the less you'll pay in interest. Plus, down payments of at least 20% eliminate the need for private mortgage insurance, or PMI. Use a down payment calculator to estimate how much you'll need for a down payment.

Can I buy a home in Mississippi if I have bad credit?

Conventional loans generally require a minimum credit score of 620, but FHA loans are available to those with a credit score of at least 580 through Rocket Mortgage. Regardless of the required credit score to buy a house, improving it can help you qualify for better loans and terms.

Do I need hurricane insurance for a house in Mississippi?

While there is no specific hurricane insurance, there is multiple-peril insurance that covers wind or hail damage caused by a hurricane. A standard homeowners insurance policy covers damage from wind and hail but does not cover flood damage, so you may want a separate flood insurance policy if you live in an area prone to hurricanes.

How long does it take to buy a house in Mississippi?

From accepted offer to closing day, buying a house in Mississippi typically takes around 35 days.

Bottom line: Decide if buying a house in Mississippi is right for you

Mississippi offers a rare combination of affordability, Southern charm, and diverse living options. From lively college towns like Oxford to coastal cities like Gulfport and Biloxi, newcomers have a lot to choose from.

Before making the move, consider the local housing market, cost of living, job opportunities, lifestyle options, and climate risk. That way, you can pick a town that best fits your needs.

Ready to take the next step toward homeownership in Mississippi? Apply for a loan from Rocket Mortgage today and see how much home you can afford.