The Mississippi Real Estate Market: 2024 Trends

I want to... ๐Ÿ  Sell my home | ๐Ÿ—๏ธ Buy a home | ๐Ÿ—บ๏ธ Find a new place to live in Mississippi

๐Ÿ’ก Key Mississippi housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $179,749[1]#49 of 50 states51% lower
Median Listing Price $285,000[2]#46 of 50 states34.8% lower
Median Sale Price $242,500[3]#48 of 50 states40.6% lower
30 Year Mortgage Rate 7.03%[4]#34 of 50 states0.8% higher
Median Days on Market 63[5]#45 of 50 states26.2% longer
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๐Ÿ—บ๏ธ Buying a house in the Mississippi real estate market

Mississippi has an affordability score of 5.2, meaning it takes 5.2 years of the median household income ($46,511) to afford Mississippi's median home sale price ($242,500). Because of this, we rank Mississippi as the 18th most affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $242,500[6]#48 of 50 states40.6% lower
30 Year Mortgage Rate 7.03%[7]#34 of 50 states0.8% higher
Median Household Income $46,511[8]#50 of 50 states27.9% lower
Affordability Ratio 5.2#18 of 50 states16.5% lower
Buyers Agent Commission 2.79%[9]#34 of 50 states4.3% higher
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Resources for Mississippi home buyers

๐Ÿ—บ๏ธ Selling a house in the Mississippi real estate market

According to our detailed survey of Mississippi real estate agents, listing agents (those representing the seller) charge an average commission in Mississippi of 3.29%, which is the 3rd highest in the United States. Buyers' agents charge an average commission of 2.79%, which is the 17th highest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $285,000[10]#46 of 50 states34.8% lower
Median Sale Price $242,500[11]#48 of 50 states40.6% lower
Median Days on Market 63[12]#45 of 50 states26.2% longer
Buyer's Agent Commission 2.79%[13]#34 of 50 states4.3% higher
Listing Agent Commission 3.29%[14]#48 of 50 states15.1% higher
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Resources for Mississippi home sellers

Moving to Mississippi

According to our recent moving trends survey[15], 4% of Americans indicated that they would choose to move to Mississippi if money were no object. Likewise, 8% of survey respondents indicated that they would move to Jackson among a choice of America's medium-sized cities.

Here's how Mississippi cities rank in a number of our research studies.

StudyBest Mississippi cityRank
Best Pizza Cities[16]No ranking Mississippi citiesNo ranking Mississippi cities
Best Coffee Cities[17]No ranking Mississippi citiesNo ranking Mississippi cities
Best LGBTQ Cities[18]No ranking Mississippi citiesNo ranking Mississippi cities
Best Bike Cities[19]No ranking Mississippi citiesNo ranking Mississippi cities
Best Commuter Cities[20]No ranking Mississippi citiesNo ranking Mississippi cities
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Article Sources

[1] Zillow โ€“ "Zillow Home Value Index". Updated April 30, 2024.
[2] Realtor.com โ€“ "Realtor.com Data Library". Updated March 2024.
[3] Redfin โ€“ "Redfin Data Center". Updated March 2024.
[4] Bankrate โ€“ "Bankrate". Updated May 2024.
[5] Realtor.com โ€“ "Realtor.com Data Library". Updated March 2024.
[6] Redfin โ€“ "Redfin Data Center". Updated March 2024.
[7] Bankrate โ€“ "Bankrate". Updated May 2024.
[8] US Census โ€“ "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate โ€“ "Clever Real Estate survey of American real estate agents". Updated May 2024.
[10] Realtor.com โ€“ "Realtor.com Data Library". Updated March 2024.
[11] Redfin โ€“ "Redfin Data Center". Updated March 2024.
[12] Realtor.com โ€“ "Realtor.com Data Library". Updated March 2024.
[13] Clever Real Estate โ€“ "Clever Real Estate survey of American real estate agents". Updated May 2024.
[14] Clever Real Estate โ€“ "Clever Real Estate survey of American real estate agents". Updated May 2024.
[15] Home Bay โ€“ "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate โ€“ "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate โ€“ "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[18] Clever Real Estate โ€“ "The Most (and Least) LGBTQ-Friendly Cities in America". Updated October 23, 2023.
[19] Clever Real Estate โ€“ "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate โ€“ "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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