If you’ve never visited Elvis Preseley’s birthplace in Tupelo or had gator bites in Gulfport, then you’ve not witnessed what the good people of MIssissippi already know; they have some of the best, most affordable fun in America.
Not only does Mississippi have a boatload of affordable fun, The Magnolia State has some of the most affordable places to call home.
And lucky for you, HomeSnacks is handing you the ultimate life hack: we’ve created a list of the top ten most affordable places Mississippi for 2019. Take a look at our list below, there might be some places that’ll surprise you. But what’s not surprising is the affordable, gold star quality of life in Mississippi; and that folks, comes with a price. If you want to live in one of Mississippi’s most affordable places, you’re going to have to find a good job. This shouldn’t be too hard, Mississippi’s unemployment rate is the lowest it’s been in years. Coincidentally, Mississippi is super safe. It’s one of the least dangerous states in the country. Probably because good ‘ol fashioned southern hospitality is live and well in the delta.
So, want to know where the cheapest places in Mississippi are to live? Grab a frozen daiquiri, find a quiet spot by Mississippi River, and read on.
Ask any MIssissippian, they will say that their corner of the deep south is the most affordable. Heck, there’s a reason The Hospitality State is the 34th most populous in the country.
Yes, we think it has a little something to do with the great people; however, to the economically savvy, to truly be the best, the state must have the nicest, most affordable places to call home.
What’s the most affordable place to live in MIssissippi? The cheapest place to live in Mississippi would be Aberdeen according to the most recent Census data on incomes, rent, and home prices..
So, if you care about home values and cost of living, take a look at the list below.
And if you already knew these places were cheap, check out some more reading about Mississippi and the cheapest places in the country:
The 10 Cheapest Places To Live In Mississippi For 2019
Aberdeen is the county seat of Monroe County, Mississippi, United States. As of the 2010 census, the population was 5,612.
The median income in Aberdeen comes in at $36,544 and the median home value is $70,800 for 2019.
Clarksdale is a city in Coahoma County, Mississippi, United States, and seat of the county.
The median income in Clarksdale comes in at $29,643 and the median home value is $61,200 for 2019.
Pontotoc is a city in, and the county seat of, Pontotoc County, Mississippi, located to the west of the much larger city of Tupelo. The population was 5,625 at the 2010 census.
The median income in Pontotoc comes in at $46,305 and the median home value is $118,900 for 2019.
The median income in Ripley comes in at $36,442 and the median home value is $96,400 for 2019.
The median income in Moss Point comes in at $39,705 and the median home value is $89,200 for 2019.
Petal is a city in Forrest County, Mississippi, along the Leaf River. It is part of the Hattiesburg, Mississippi Metropolitan Statistical Area. The population was 10,454 in the 2010 census.
The median income in Petal comes in at $56,467 and the median home value is $137,600 for 2019.
Holly Springs is a city in and county seat of Marshall County, Mississippi, United States at the border with southern Tennessee.
The median income in Holly Springs comes in at $28,886 and the median home value is $77,700 for 2019.
Brandon is a city in Rankin County, Mississippi. The population was 21,705 at the 2010 census. It is the county seat of Rankin County. Brandon is part of the Jackson Metropolitan Statistical Area and located east of the state capital.
The median income in Brandon comes in at $72,529 and the median home value is $169,900 for 2019.
Southaven is a city in DeSoto County, Mississippi, United States. It is a suburb of Memphis, Tennessee, and a principal city in the Memphis metropolitan area. The 2010 census reported a population of 48,982, making Southaven the third-largest city in Mississippi. Southaven is traversed from north to south by the I-55/I-69 freeway. The city’s name derives from the fact that Southaven is located south of Whitehaven, a neighborhood in Memphis.
The median income in Southaven comes in at $60,093 and the median home value is $139,400 for 2019.
Laurel is a city in and the second county seat of Jones County, Mississippi, United States. As of the 2010 census, the city had a total population of 18,548. It is located northeast of Ellisville, the first county seat, which contains the first county courthouse. Laurel has the second county courthouse, as there are two judicial districts in Jones County.
The median income in Laurel comes in at $30,010 and the median home value is $78,900 for 2019.
How We Determined The Most Affordable Places To Live In The Magnolia State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Mississippi to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 62 places in Mississippi that have more than 5,000 people.
The place with the lowest cost of living in Mississippi according to the data is Aberdeen.
There You Have It Mr. Or Mrs. Mississippi Cheapskate
If you’re looking at the cost of living numbers in Mississippi, this is an accurate list of the most affordable places to live in mississippi for 2019.
Here’s a look at the most expensive cities in Mississippi according to the data:
- Bay St. Louis
For more Mississippi reading, check out: