The 39212 zip code in Jackson tops our ranking of the most affordable places to live in Mississippi.
Whether you're searching for affordable cities and towns to buy a home or the places with the lowest cost of living to rent, consider the following zip codes.
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Top 10 most affordable places to live in Mississippi
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Jackson 🥇 | 100.0 | $96,492 | $1,204 |
| 2 | Vicksburg 🥈 | 98.1 | $149,735 | $1,599 |
| 3 | Clarksdale 🥉 | 97.3 | $42,959 | $1,599 |
| 4 | Philadelphia | 97.0 | $137,094 | $1,599 |
| 5 | Meridian | 96.2 | $96,582 | $1,599 |
| 6 | Greenville | 95.9 | $57,590 | $1,599 |
| 7 | Laurel | 95.7 | $112,692 | $1,599 |
| 8 | Ripley | 95.7 | $138,209 | $1,599 |
| 9 | Southaven | 95.6 | $330,930 | $2,167 |
| 10 | Grenada | 94.6 | $133,991 | $1,599 |
What these affordable cities and towns have in common
The 10 zip codes we ranked share a common trait: a low cost of living relative to the Mississippi median.
Median home values, rental costs, and property taxes generally sit below the state averages, while household incomes remain strong enough to keep home affordability ratios manageable. Below, we look at each market in detail.
1. Jackson
Here's why the 39212 zip code in Jackson is Mississippi's most affordable place to live.
🔎 Key data about Jackson
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $96,492[1] | No. 11 | -$107,323 |
| Home affordability ratio | 1.9 | No. 7 | -1.4 |
| Home value five-year change | 2.3%[2] | No. 3 | -20.6% |
| Home value one-year forecast | -0.3%[3] | No. 38 | 0.7% |
| Rental costs | $1,204[4] | No. 7 | -$394 |
| Rent affordability ratio | 2.37% | No. 17 | -0.2% |
| Median household income | $50,722[5] | No. 57 | -$10,589 |
| Property taxes | $1,350[6] | No. 64 | $4 |
| Energy costs | $0.13 kWh[7] | No. 44 | $0.02 |
Jackson's 39212 zip code is the cheapest place to live in Mississippi, leading the 94 markets we evaluated.
The median home value is $96,492, making it the 11th-cheapest housing market in the state. Forecasts project a -0.3% change in home values in the next year. Rent in the zip code averages $1,204 per month, which is the 17th cheapest amount in Mississippi.
The median property tax for homeowners in Jackson is $1,350 per household, the No. 64 ranked market in Mississippi.
Residents pay $0.13 per kWh of electricity, which ranks No. 44 among Mississippi markets.
📈 Thinking about buying in Mississippi? See our complete housing market outlook for the data, trends, and timing insights Mississippi buyers need to know.
2. Vicksburg
The 39183 zip code is the 2nd-cheapest place to live in Mississippi.
🔎 Key data about Vicksburg
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.1 | No. 2 | N/A |
| Median home value | $149,735[1] | No. 36 | -$54,079 |
| Home affordability ratio | 2.0 | No. 8 | -1.3 |
| Home value five-year change | 1.2%[2] | No. 1 | -21.7% |
| Home value one-year forecast | -3.1%[3] | No. 14 | -2.1% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $73,946[5] | No. 13 | $12,635 |
| Property taxes | $1,276[6] | No. 55 | -$70 |
| Energy costs | $0.15 kWh[7] | No. 93 | $0.03 |
Vicksburg's 39183 zip code has a median home value of $149,735, which is the 36th-cheapest housing market in Mississippi. You can rent for an average of $1,599 per month. That's the 23rd-cheapest price in the state.
The average household income in the zip code is $73,946, which ranks 13th-highest in the state.
Homeowners in Vicksburg pay a median property tax of $1,276 per year, making it the 55th-most affordable market in Mississippi.
Vicksburg ranks No. 93 among Mississippi energy markets. You'll pay $0.15 per kWh of electricity.
3. Clarksdale
The 3rd-least-expensive place to live in Mississippi is Clarksdale's 38614 zip code.
🔎 Key data about Clarksdale
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.3 | No. 3 | N/A |
| Median home value | $42,959[1] | No. 1 | -$160,855 |
| Home affordability ratio | 1.1 | No. 1 | -2.2 |
| Home value five-year change | 22.9%[2] | No. 34 | 0.0% |
| Home value one-year forecast | -7.8%[3] | No. 3 | -6.8% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $37,383[5] | No. 86 | -$23,928 |
| Property taxes | $1,233[6] | No. 48 | -$113 |
| Energy costs | $0.07 kWh[7] | No. 2 | -$0.05 |
The No. 1 cheapest housing market in Mississippi is Clarksdale's 38614 zip code, with a median home value of $42,959. Rents in the market average $1,599 per month, making it the 23rd-most affordable rental market in the state.
The median property tax for households in Clarksdale is $1,233, which makes it the 48th-cheapest place in Mississippi. Clarksdale ranks No. 2 among Mississippi markets by energy costs. Residents pay $0.07 per kWh of electricity.
4. Philadelphia
The 39350 zip code in Philadelphia comes in at No. 4 on our list of the cheapest places to live in Mississippi.
🔎 Key data about Philadelphia
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.0 | No. 4 | N/A |
| Median home value | $137,094[1] | No. 24 | -$66,721 |
| Home affordability ratio | 2.5 | No. 15 | -0.8 |
| Home value five-year change | 2.2%[2] | No. 2 | -20.8% |
| Home value one-year forecast | -1.0%[3] | No. 20 | 0.0% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $54,779[5] | No. 47 | -$6,532 |
| Property taxes | $950[6] | No. 19 | -$396 |
| Energy costs | $0.10 kWh[7] | No. 23 | -$0.02 |
The No. 24 cheapest housing market in Mississippi is Philadelphia's 39350 zip code, where the median home value is $137,094. Renters here pay an average of $1,599 per month.
When it comes to energy costs, Philadelphia ranks 23rd among Mississippi markets. Residents pay $0.10 per kWh of electricity.
The median property tax for households in the zip code is $950, which makes it the 19th-cheapest market in Mississippi.
5. Meridian
The 39301 zip code in Meridian ranks No. 5 among Mississippi's most affordable places to live.
🔎 Key data about Meridian
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.2 | No. 5 | N/A |
| Median home value | $96,582[1] | No. 12 | -$107,233 |
| Home affordability ratio | 2.3 | No. 11 | -1.0 |
| Home value five-year change | 7.0%[2] | No. 7 | -15.9% |
| Home value one-year forecast | -3.8%[3] | No. 10 | -2.8% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $41,766[5] | No. 80 | -$19,545 |
| Property taxes | $1,091[6] | No. 32 | -$255 |
| Energy costs | $0.14 kWh[7] | No. 91 | $0.03 |
Meridian's 39301 zip code has a median home value of $96,582, the 12th-cheapest housing market in the state. Forecasts project a -3.8% change in home values in the next year.
The median property tax per household in Meridian is $1,091. It's the 32nd-cheapest market by tax rate in Mississippi.
6. Greenville
The No. 6 most affordable city in Mississippi is the 38703 zip code.
🔎 Key data about Greenville
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.9 | No. 6 | N/A |
| Median home value | $57,590[1] | No. 5 | -$146,224 |
| Home affordability ratio | 1.3 | No. 2 | -2.0 |
| Home value five-year change | 22.9%[2] | No. 34 | 0.0% |
| Home value one-year forecast | -10.5%[3] | No. 2 | -9.5% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $44,291[5] | No. 73 | -$17,020 |
| Property taxes | $594[6] | No. 2 | -$752 |
| Energy costs | $0.13 kWh[7] | No. 51 | $0.02 |
The back half of our top 10 kicks off with Greenville's 38703 zip code, which has the 5th-cheapest home values in Mississippi. The median home value is $57,590. Rents average $1,599 per month, making it the 23rd-most affordable rental market in the state.
Residents pay $0.13 per kWh of electricity. It's the 51st-cheapest energy market.
7. Laurel
Laurel's 39440 zip code is the 7th-cheapest place to live in Mississippi.
🔎 Key data about Laurel
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.7 | No. 7 | N/A |
| Median home value | $112,692[1] | No. 16 | -$91,123 |
| Home affordability ratio | 2.4 | No. 12 | -0.9 |
| Home value five-year change | 10.7%[2] | No. 13 | -12.2% |
| Home value one-year forecast | -3.8%[3] | No. 10 | -2.8% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $46,947[5] | No. 66 | -$14,364 |
| Property taxes | $1,224[6] | No. 45 | -$122 |
| Energy costs | $0.14 kWh[7] | No. 58 | $0.02 |
You'll find the 16th-cheapest home values in Mississippi in Laurel's 39440 zip code. The median value: $112,692. Renters in Laurel pay an average of $1,599 per month.
Homeowners in Laurel pay a median property tax of $1,224 per year, which is Mississippi's 45th-most affordable market.
The average household income is $46,947, which ranks 66th-highest in the state.
8. Ripley
The 8th-least-expensive place to live in Mississippi is Ripley's 38663 zip code.
🔎 Key data about Ripley
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.7 | No. 8 | N/A |
| Median home value | $138,209[1] | No. 25 | -$65,606 |
| Home affordability ratio | 2.7 | No. 20 | -0.7 |
| Home value five-year change | 8.5%[2] | No. 11 | -14.4% |
| Home value one-year forecast | -1.0%[3] | No. 20 | 0.0% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $52,141[5] | No. 55 | -$9,170 |
| Property taxes | $1,038[6] | No. 30 | -$308 |
| Energy costs | $0.09 kWh[7] | No. 18 | -$0.02 |
The 25th-cheapest housing market in Mississippi is Ripley's 38663 zip code, with a median home value of $138,209. Renters pay an average of $1,599 per month, the No. 23 rental market in the state.
The median property tax for households in Ripley is $1,038, which makes it the 30th-cheapest place in Mississippi. The average household income of $52,141 ranks 55th.
9. Southaven
Southaven's 38672 zip code is one of Mississippi's most affordable towns, sneaking into the top ten of our rankings.
🔎 Key data about Southaven
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.6 | No. 9 | N/A |
| Median home value | $330,930[1] | No. 90 | $127,116 |
| Home affordability ratio | 2.8 | No. 28 | -0.5 |
| Home value five-year change | 20.7%[2] | No. 29 | -2.3% |
| Home value one-year forecast | -0.3%[3] | No. 38 | 0.7% |
| Rental costs | $2,167[4] | No. 91 | $569 |
| Rent affordability ratio | 1.87% | No. 4 | -0.7% |
| Median household income | $116,184[5] | No. 2 | $54,873 |
| Property taxes | $1,848[6] | No. 87 | $502 |
| Energy costs | $0.07 kWh[7] | No. 2 | -$0.05 |
The 90th-cheapest housing market in Mississippi is Southaven's 38672 zip code, where the median home value is $330,930. Renters pay an average of $2,167 per month. It's the state's 91st-cheapest rental market.
The median property tax for households within the zip code is $1,848, which makes it the 87th-cheapest property tax rate in Mississippi.
10. Grenada
The final spot on our list of the most affordable places to live in Mississippi goes to the 38901 zip code in Grenada.
🔎 Key data about Grenada
| Data point | Value | Rank (out of 94 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 94.6 | No. 10 | N/A |
| Median home value | $133,991[1] | No. 23 | -$69,824 |
| Home affordability ratio | 2.7 | No. 26 | -0.6 |
| Home value five-year change | 16.8%[2] | No. 23 | -6.2% |
| Home value one-year forecast | -2.4%[3] | No. 18 | -1.4% |
| Rental costs | $1,599[4] | No. 23 | $0 |
| Rent affordability ratio | 2.61% | No. 22 | 0.0% |
| Median household income | $48,848[5] | No. 63 | -$12,463 |
| Property taxes | $1,440[6] | No. 72 | $94 |
| Energy costs | $0.10 kWh[7] | No. 29 | -$0.02 |
Rounding out our top 10 is Grenada's 38901 zip code, with the 23rd-cheapest home values in Mississippi.
The median home value is $133,991. Rent in the market costs $1,599 per month on average.
The median property tax for households in Grenada is $1,440, which is the 72nd-cheapest property tax rate in the state.
Grenada ranks No. 29 among Mississippi markets by energy costs, with households paying $0.10 per kWh of electricity.
What questions about these cities should I ask local agents?
Once you've found a town you're interested in, you'll want to ask a local agent for details our rankings can't capture. Start with these four questions:
- What neighborhoods inside this zip code have the best resale value?
- What's the rental market like right now?
- Are there local property tax exemptions or homestead programs you'd qualify for?
- What are the most common surprises buyers run into here?
🏡 Need a local agent? We can connect you with an expert who knows the market.
Frequently asked questions about the least expensive places to live in Mississippi
Based on Clever's Affordability Score, the 39212 zip code in Jackson is the cheapest place to live in Mississippi.
The median home value is $96,492, and the median household income is $50,722, giving Jackson a home affordability ratio of 1.9, meaning a typical home costs about that many times the median annual income.
See our Affordability Score methodology and the full ranking of the 10 cheapest places to live in Mississippi.
The median home value in Mississippi is $203,815.
See the rankings above for how individual cities compare to these state-wide figures.
Mississippi is currently a neutral market, according to Clever's Market Heat Index.
The index reflects the balance between buyer demand and seller supply, which affects how much negotiating power buyers and sellers have in any given market.
Markets also vary by city, county, and neighborhood. It's always good to check with a local real estate agent to understand the dynamics of a given local market.
The median amount homeowners pay in property taxes in Mississippi is $1,346 per year.
Property taxes are a key part of the overall cost of living, and they vary significantly by location. The per-city tax figures in the rankings above show how each of the 10 cheapest places stacks up against the Mississippi median.
📍 The 10 cheapest places to live in your region
How we ranked the most affordable cities and towns in Mississippi
We evaluated 94 zip codes in Mississippi with a population over 10,000 on home values, rental costs, energy rates, property taxes, and five other affordability indicators. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Mississippi, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Mississippi average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Mississippi average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Why you should trust us
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Our team is committed to making home purchasing more transparent by educating buyers and sellers through guides like this one. Our writers, editors, and industry-leading researchers strive to provide readers with the most up-to-date, accurate, and useful information.
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