Income Needed to Buy a Home in Mississippi (2026)
Verdict: stretch — requires $62,027/year (#47 least affordable of 51 US states)
Mississippi ranks #47 of 51 US states for housing unaffordability in 2026. Buying the median home at $192,906 requires a household income of about $62,027. That's $2,900 more than the median household actually earns ($59,127) — a shortfall of 5% of typical income.
Mississippi's affordability ratio of 1.05 (required income ÷ actual median income) is 17.9% better than the median across all 51 US states (1.28). Home prices here sit 44.4% below the cross-state median of $346,668.
A low 0.58% effective property tax rate keeps the monthly tax bill to $93, softening the total payment — and homeowners insurance is a real burden here at $3,353/year ($279/month), well above what most states pay. All-in, the monthly PITI (principal, interest, taxes, insurance) comes to $1,447.
Mississippi monthly cost breakdown (2026)
| Median home price | $192,906 |
| Loan amount (10% down) | $173,616 |
| Monthly principal & interest | $1,075 |
| Monthly property tax (0.58% rate) | $93 |
| Monthly homeowners insurance | $279 |
| Total monthly PITI | $1,447 |
| Required household income | $62,027 |
| Median household income | $59,127 |
Run your own numbers
These figures model the median buyer. Your rate, down payment, and debts change the answer — check your personal maximum with the Home Affordability Analyzer or build a full payment schedule in the Advanced Mortgage Calculator. Closing costs typically add 2–5% on top — estimate them with the Closing Costs Estimator.
How Mississippi compares
- Alabama — similar affordability (ratio 1.06, requires $70,614)
- Ohio — similar affordability (ratio 1.02, requires $74,011)
- Indiana — similar affordability (ratio 1.02, requires $73,609)
- West Virginia — among the most affordable US states (requires $48,369)
- Iowa — among the most affordable US states (requires $74,199)
See every state and province ranked in the 2026 Mortgage Affordability Index.
Frequently asked questions
How much income do you need to buy a house in Mississippi in 2026?
About $62,027 per year to afford the median-priced home of $192,906, assuming a 10% down payment and standard 28% housing-cost-to-income guideline. The median Mississippi household earns $59,127.
What is the monthly cost of owning a median home in Mississippi?
Roughly $1,447 per month, including principal and interest, property tax, and homeowners insurance.
Is Mississippi affordable at the median income?
No. The required income exceeds the median household income by $2,900 (5%), ranking Mississippi #47 least affordable of 51 US states.
Methodology & sources
Assumes 10% down, 30-year fixed at prevailing 2026 rates, 28% housing-cost-to-income guideline. Home prices from Zillow ZHVI (March 2026); incomes from Census ACS 1-Year 2024; property taxes from Tax Foundation; insurance from Bankrate state averages. Figures model the median scenario and are not financial advice. Full sources on the affordability index.