Best Affordable Places to Live in Mississippi in 2026
(Last Updated – 06/2026)
With the birthplace of American music in its northern reaches, charming beach towns in the south, and natural beauty, a rich history, and warm hospitality in every corner, Mississippi has a lot to offer. But perhaps one of the state’s biggest draws is its affordability.
Mississippi is typically among the least expensive places to live. The cost of living is almost 4% lower than the national average, which means car fill-ups, grocery store runs, and utility bills cost less than they would elsewhere. Housing costs run 24% below what the average American pays, thanks in large part to an abundance of land, low property taxes, and low rents.
This is all welcome news if you’re in search of an economical place to start a career, raise a family, or retire. Below, we take a closer look at some of the best places to live in Mississippi. Thinking of purchasing a home in Mississippi? Explore mortgage lenders and get a sense of what size loan you might qualify for before you kick off your home shopping experience.
Best Places to Live in Mississippi
If affordability is a top priority — and you’re looking for warm weather, friendly people, and a slower pace of life — then living in Mississippi may just fit the bill. As you consider your options, think about whether you want to live in or near a major city, like Jackson; in a centrally located town, like Hattiesburg; or in a beach town in the south. Climate is another factor to keep in mind. The state is prone to hurricanes, especially along its coastline, and tornadoes also pose a risk.
If you’re ready to put down roots, and are new to the homebuying process, a first-time homebuyer guide can be a good initial stop before you start shopping.
💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.
Best Affordable Places to Live in Mississippi
Some of the most expensive places to live in Mississippi are located outside of major cities. In fact, the two richest places in the state are the well-heeled suburbs of Madison, just north of the capital city of Jackson, and Pleasant Hill, just south of Memphis, Tennessee. If you’re on a budget, you may find you can get more bang for your housing buck in an exurb or rural area. To see how you can stretch your money even more, consider looking into first-time homebuyer programs in Mississippi.
1. Tupelo
Photo credit: iStock/DenisTangneyJr
With affordable homes, well-regarded public schools, and a strong sense of community, Tupelo is a beacon in Northern Mississippi and attracts visitors from surrounding smaller towns. Healthcare and manufacturing provide a range of jobs here. The birthplace of Elvis Presley, Tupelo is also the gateway to the beautiful Natchez Trace Parkway and home to a buffalo park and zoo. The city comes alive on weekends, with music events and attractions that draw residents of surrounding communities.
Population: 37,791
Median Household Income: $66,257
Cost of Living: 86% of U.S. average
Median Rent Price: $1,400
Home Value-to-Income Ratio: 3.2
2. Greenville
Photo credit: iStock/Geoff Eccles
Less than 30 miles from the Arkansas border, and in the heart of the Delta, sits Greenville. Move to this city of almost 28,000 and prepare to stay busy with outdoor activities, music festivals, and entertainment at the two local casinos. And good news for those on a budget: Rent and home prices here are below the state’s average.
Population: 28,166
Median Household Income: $40,083
Cost of Living: 84% of U.S. average
Average Rent Price: $879
Home Value-to-Income Ratio: 1.5
3. Meridian
Photo credit: iStock/DenisTangneyJr
Though it’s a day trip to Jackson, Birmingham, New Orleans, and Memphis, this mid-sized city offers lots of reasons to stay in town. The 3,300-acre Bonita Lakes Park provides opportunities for fishing, hiking, and horseback riding, and restaurants, boutiques, and music venues line the vibrant downtown area.
If you’re starting your home search and want to learn what type of home mortgage loan you might qualify for, consider weighing the pros and cons between mortgage prequalification vs. preapproval.
Population: 34,137
Median Household Income: $36,562
Cost of Living: 81% of U.S. average
Median Rent Price: $1,100
Home Value-to-Income Ratio: 3.2
Recommended: What to Know About Getting Preapproved for a Home Loan
Best Places to Live in Mississippi for Families
Looking to raise your crew in the Magnolia State? These three places deserve a spot on your short list.
1. Petal
Photo credit: Wikimedia Commons/Beth Bunch , Creative Commons Attribution-ShareAlike 4.0 International
Nicknamed “The Friendly City,” Petal has many qualities parents often seek, including well-rated public schools. Many of the households here have children, which could make finding playmates that much easier. There are also several city parks and playgrounds where kids can burn off steam, and sporting and cultural events to enjoy in neighboring Hattiesburg.
Population: 11,294
Median Household Income: $74,750
Cost of Living: 82% of U.S. average
Average Rent Price: $1,450
Home Value-to-Income Ratio: 3.0
2. Brandon
Photo credit: Flickr/Jimmy Emerson, DVM , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic
This mid-size suburb of 25,000 is a 15-minute drive from Jackson, which makes it a popular choice for parents who work in the capital city and want a short commute home. Parents may also be drawn here by the schools and the fact that Brandon students often earn higher-than-average scores on standardized tests.
Population: 25,542
Median Household Income: $92,783
Cost of Living: 89% of U.S. average
Average Rent Price: $2,045
Home Value-to-Income Ratio: 3.1
3. Olive Branch
Photo credit: Wikimedia Commons/Thomas R Machnitzki , Creative Commons Attribution 3.0 Unported
Tucked away a mere 30 minutes south of Memphis, Olive Branch is an upscale, family-friendly community with growing job opportunities. Its schools, some of which are among the highest-ranking in the area, are also a draw for families.
When you’re ready to start shopping for a home, consider visiting a home loan help center to learn more about mortgage options.
Population: 47,019
Median Household Income: $100,606
Cost of Living: 88% of U.S. average
Median Rent Price: $2,058
Home Value-to-Income Ratio: 3.3
💡 Quick Tip: Don’t have a lot of cash on hand for a down payment? The minimum down payment for an FHA mortgage loan is just 3.5%.
Best Places to Live in Mississippi for Young Adults
If you’re planning to start your post-collegiate life in Mississippi, you’ll probably want to zero in on areas with job opportunities, things to do, and other people your age. In that case, you may want to consider sticking to the suburbs of Jackson or college towns.
1. Ridgeland
Photo credit: iStock/Wirestock
Upscale shopping? Vibrant nightlife? Easily accessible parks, bike paths, and trails? Close to a major city? When it comes to the amenities young adults want, Ridgeland checks the boxes. It also helps that this suburb of Jackson is on the younger side — the median age is just under 36.
Population: 24,587
Median Household Income: $66,038
Cost of Living: 91% of U.S. average
Average Rent Price: $1,700
Home Value-to-Income Ratio: 4.4
Recommended: What Are the Different Types of Home Mortgage?
2. Flowood
It’s easy to see why Flowood has been among the fastest-growing cities in Mississippi — and a smart choice for young professionals who want a little more space than they’d get in nearby Jackson. The median age of residents is just under 40, and many workers are employed in white-collar positions, reflected in the healthy median household income. River Oaks Hospital and Blue Cross Blue Shield of Mississippi are among the top employers in town, or you could decide to make the 15-minute commute to Jackson for work.
If home values are rising where you plan to buy, applying for a jumbo mortgage loan is one strategy to consider.
Population: 10,587
Median Household Income: $83,880
Cost of Living: 93% of U.S. average
Median Rent Price: $1,442
Home Value-to-Income Ratio: 4.0
3. Biloxi
Photo credit: iStock/Sean Pavone
Whether you’re driving in from New Orleans or Mobile, Alabama, it’s nearly impossible to miss the signs for Biloxi. Or, more specifically, the signs for the casinos lining the city’s beachfront. In addition to gaming, restaurants, and entertainment, these establishments bring jobs (as does the other major employer in town, Keesler Air Force Base). When the workday is done, you can take in live music, enjoy fresh-from-the-Gulf seafood, or unwind with a peaceful stroll along the beach.
Population: 48,861
Median Household Income: $57,204
Cost of Living: 90% of U.S. average
Median Rent Price: $1,867
Home Value-to-Income Ratio: 4.2
Recommended: How to Qualify for a Mortgage: 9 Requirements
Best Places to Live in Mississippi for Retirees
When you’re retired, every bit of savings counts. And from a financial perspective, Mississippi is a budget-friendly place to spend your golden years. In fact, it tops the list of best states to retire for taxes. The Magnolia State doesn’t tax retirement income from Social Security, pensions, IRAs, and 401(k) plans, and it has one of the lowest costs of living in the country. Even the weather seems designed for the 65-and-up set, with hot summers, mild winters, and year-round sunshine. When you’re ready to retire in Mississippi, here are three spots to explore.
1. Diamondhead
Located an hour’s drive from New Orleans, and a few minutes away from the beach, Diamondhead offers residents a slower pace of life and easy access to modern conveniences. Almost 30% of its population is 65 or older, and many of the town’s amenities cater to retirees. This includes golf courses, a public pool, and a senior center.
Population: 9,338
Median Household Income: $87,407
Cost of Living: 83% of U.S. average
Median Rent Price: $1,875
Home Value-to-Income Ratio: 2.9
2. Tupelo
Photo credit: iStock/DenisTangneyJr
Tupelo isn’t just the birthplace of Elvis Presley, it’s also a Mississippi-certified retirement city. This is no doubt welcome news to the 23% of the population aged 60 and older, who enjoy the area’s natural beauty, warm hospitality, and health care services, including an award-winning, 750-bed hospital.
Population: 37,791
Median Household Income: $66,257
Cost of Living: 86% of U.S. average
Median Rent Price: $1,400
Home Value-to-Income Ratio: 3.2
3. Meridian
Photo credit: iStock/DenisTangneyJr
Meridian can be another good place to retire. Spend your days wandering through its museums, discovering local artists and musicians in its Hall of Fame, or getting your steps in at one of the outdoor walking trails.
Population: 34,137
Median Household Income: $36,562
Cost of Living: 81% of U.S. average
Median Rent Price: $1,100
Home Value-to-Income Ratio: 3.2
Best Places to Live in Mississippi Near the Beach
Sure, the soft white sands and emerald-green waters of Florida and Alabama are the stuff of postcards and Instagram posts. But consider leaving them to the throngs of sun worshippers and heading west to Mississippi’s beaches, which are usually less packed but no less beautiful. The 62-mile coastline is dotted with small and mid-sized towns, each with its own character and charm, and each chock-full of amenities.
As with other beach areas, the closer you get to the water, the more you can expect to pay for a home. And depending on what flood zone it’s in, you may also end up paying more for flood insurance premiums. If you’re on a fixed income, as many retirees are, you may want to bring your search more inland. Here are three locations to consider calling home.
Own your home and looking for ways to lower costs? A mortgage refinance may be worth exploring.
1. Long Beach
Photo credit: Flickr/Barry Goble , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic
Ancient, graceful oak trees, sparkling-clean beaches, and a vibrant downtown are what awaits you in Long Beach. The area is a favorite among anglers, though seashell and sea glass collectors will have plenty to keep them busy on shore.
Population: 17,009
Median Household Income: $70,332
Cost of Living: 86% of U.S. average
Average Rent Price: $1,950
Home Value-to-Income Ratio: 3.4
2. Bay St. Louis
Photo credit: iStock/Teresa Otto
There’s magic in the air in Bay St. Louis. Maybe it’s from the wide-open beaches and gentle waves. Or the colorful art bursting from galleries and mom-and-pop restaurants. Or the fact that it’s perfectly acceptable to tool around town in a golf cart and flip flops. Whatever the reason, this gem of a town may soon no longer be one of the South’s best-kept secrets, thanks to a new train line connecting it to New Orleans and Mobile.
Population: 10,188
Median Household Income: $67,442
Cost of Living: 86% of U.S. average
Average Rent Price: $1,790
Home Value-to-Income Ratio: 3.6
3. Pascagoula
Photo credit: iStock/halbergman
On the eastern end of the Mississippi Gulf Coast, Pascagoula is steeped in natural beauty and rich history. Take a marsh tour and get up close and personal with the Pascagoula River. This natural estuary is home to various critters, including several endangered species, and more than 300 species of plants. Or take a step back in time by visiting the Round Island Lighthouse or the LaPointe-Krebs House and Museum (it’s the oldest structure in the state).
Population: 21,710
Median Household Income: $52,222
Cost of Living: 83% of U.S. average
Median Rent Price: $1,129
Home Value-to-Income Ratio: 2.8
The Takeaway
Thinking about relocating to the Magnolia State? There are small towns, big cities, and affordable suburbs that may suit your budget, career goals, and lifestyle. While the cost of living by state can vary year to year, Mississippians generally find affordable prices on everyday expenses wherever in the state they choose to put down roots. From beachy towns to dynamic cities, you’re likely to find an affordable and enjoyable lifestyle in the state.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
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FAQ
Where is the cheapest suburb to live in Mississippi?
If you want to live near a major city but get more bang for your housing buck, consider Brandon, which is a half-hour from Jackson, or Olive Branch, which is a similar distance from Memphis. Each has a cost of living that’s more than 10 points below the national average.
Where is the most affordable place to live in Mississippi?
With a cost of living that’s just 81% of the national average and average rents of $1,100, Meridian is among the most affordable places to live in Mississippi.
How much money do you need to live comfortably in Mississippi?
Mississippi typically ranks as one of the top three most affordable states in the U.S. How much you need to live comfortably, though, will depend on where you live, family size, your financial profile, and other factors.
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