Located in the heart of the South, Mississippi is well known for its southern hospitality, serene Gulf Coast, blues and bluegrass music scenes, and warm climate. If you’ve been considering moving to Mississippi or are hoping to relocate to a new city, you also probably have a budget you’d like to stay under as you look for a place to live. When it comes to buying a home in Mississippi the median home sale price is $263,400.
If that price is out of your budget, don’t worry. We’ve got options to help you find a home. Redfin has rounded up a list of 6 of the most affordable places to live in Mississippi – and they all have a median home sale price under $263,400. From Jackson to Tupelo, let’s jump in and see what cities are on the list.
#1: Meridian
Median home price: $32,500
Average sale price per square foot: $21
Average rent for a 1-bedroom apartment: $750
Median household income: $31,198
Nearest major metro: Jackson (90 miles)
Meridian, MS homes for sale
Meridian, MS apartments for rent
With a median home sale price of $32,500, Meridian claims the first spot on our list of affordable places to live in Mississippi. There are about 35,100 residents living in this mid-sized city. In Meridian, you can explore the 3,3000-acre Bonita Lakes Park where you’ll find three lakes and options to fish, horseback ride, or hike, visit the Dentzel Antique Carousel at Highland Park, or check out downtown.
#2: Jackson
Median home price: $135,000
Average sale price per square foot: $80
Average rent for a 1-bedroom apartment: $1,445
Median household income: $39,969
Jackson, MS homes for sale
Jackson, MS apartments for rent
Taking the second spot on our list of affordable cities to live in Mississippi is Jackson. When living in this city of 153,700 people, you can visit the historic Mississippi State Capitol and explore the Mynelle Gardens Arboretum & Botanical Center. There are plenty of museums to check out so make sure to see the exhibits at Mississippi Civil Rights Museum, Mississippi Museum of Art, and the Eudora Welty House and Garden.
#3: Greenville
Median home price: $150,000
Average sale price per square foot: $93
Average rent for a 1-bedroom apartment: $715
Median household income: $32,066
Nearest major metro: Memphis, TN (110 miles)
Greenville, MS homes for sale
Greenville, MS apartments for rent
Next is the city of Greenville, which has about 29,700 residents. The median home sale price is $150,000 which is about $110K less than the median home sale price in Mississippi. If you find yourself moving here, explore the Greenville Cypress Preserve Trust or grab a meal at one of the local restaurants.
#4: Tupelo
Median home price: $181,000
Average sale price per square foot: $144
Average rent for a 1-bedroom apartment: $995
Median household income: $39,969
Nearest major metro: Memphis, TN (100 miles)
Tupelo, MS homes for sale
Tupelo, MS apartments for rent
Only slightly more expensive than Greenville is none other than Tupelo, most well known as the birthplace of Elvis Presley. With roughly 37,900 residents in Tupelo, make sure to visit historic sites like the Elvis Presley Birthplace and Tupelo National Battlefield, check out the Tupelo Buffalo Park & Zoo, and explore downtown Tupelo’s Main Street.
#5: Horn Lake
Median home price: $217,500
Average sale price per square foot: $150
Average rent for a 1-bedroom apartment: $1,334
Median household income: $39,969
Nearest major metro: Memphis, TN (18 miles)
Horn Lake, MS homes for sale
Horn Lake, MS apartments for rent
Another great area to add to your list of affordable places to live in Mississippi is Horn Lake. Home to 26,700 residents, this affordable town can be a great option to add to your list. In Horn Lake, you can check out one of the beautiful parks in town or grab a meal at a local restaurant.
#6: Pearl
Median home price: $228,500
Average sale price per square foot: $149
Average rent for a 1-bedroom apartment: $807
Median household income: $54,615
Nearest major metro: Jackson (5 miles)
Pearl, MS homes for sale
Pearl, MS apartments for rent
Sixth on the list is another well-known city, Pearl, the last of our affordable places to live in Mississippi. The median home sale price is about $30K less than the state’s average. With roughly 27,100 people calling Pearl home, it’s a great area to consider moving to this year. Make sure to watch a baseball game at Trustmark Park, check out the shops and restaurants in town, or golf at one of the courses. No matter what neighborhood you move to in Pearl, you won’t get tired of exploring this city.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Mississippi. Median home sale price and median sale price per square foot from the Redfin Data Center during August 2023. Average rental data from Rent.com August 2023. Population and median household income data sourced from the United States Census Bureau.
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