Mississippi is well-known for its affordable living, making it one of the most desirable places to live in the United States today – especially considering the current state of the economy. Many homeowners, of all ages, are finding solace in communities with a low standard cost of living.
In fact, recent studies and research suggests that Mississippi has the lowest cost of living index in the entire United States. Trips to the grocery store cost less, filling your vehicle with gas costs less, recreational activities cost less, and even goods and/or services cost less in Mississippi.
These are some of the most prominent reasons why homeowners – especially younger adults looking to kickstart their life – are so attracted to the state of Mississippi. Of course, you also have to consider how cheap homes are in Mississippi compared to other states in the US.
Why Are Houses So Cheap in Mississippi?
Affordable housing and affordable living are nothing new to the Mississippi area. Back in 2016, the Tax Foundation released a study that suggested $100 in Mississippi is worth more than other parts of the country. In fact, they suggested it was worth 15% more – a total of $115.34.
For anyone interested in getting the most bang for their buck, Mississippi is and has been the place to be. It’s no secret that houses are much cheaper in Mississippi than in other states in the US, but that begs the question – why? What makes Mississippi the cheapest state in the US?
The truth is there are a multitude of reasons and they all play an equal part in the grand scheme of things. Perhaps the most notable reasons include the abundance of land, affordable rent prices, low cost of living, and low median income. Let’s take a closer look at each one below.
1. Abundance of Land
An abundance of land means an abundance of opportunity, and an abundance of opportunity often means cheaper prices – both for the land and existing homes in the surrounding area. With so many options to choose from in the MS housing market, you’re bound to find the perfect home with little competition.
2. Affordable Rent Prices
Among the many benefits of moving to Mississippi is the low rent prices compared to the national average, but what would this do for those looking to purchase a home? Since rent prices are low, people are interested in renting – meaning less competition. Since fewer are looking to buy, you can negotiate a better deal.
3. Low Cost of Living
The low cost of living, much like we explained above, makes everything cheaper in Mississippi – including building costs, materials, renovations, and everything in-between. This all stands to benefit the home buyer because they’re able to get more of what they want for less money.
4. Low Median Income
The final reason why houses are so cheap in Mississippi is the low median household income – which might sound like a negative, but it directly affects the cost of goods and services, including housing. Just look at how expensive it is to live in places like Los Angeles or Miami.
Least Expensive Cities in Mississippi
Alright, you now understand why houses are so cheap in Mississippi, but let’s dig in a little deeper. Much like any other state, there are going to be cities that are more expensive and least expensive than others. While that’s true in Mississippi, even the expensive ones aren’t too bad.
Let’s take a look at some of the least expensive cities to live in Mississippi:
- Clarksdale
- Aberdeen
- Kosciusko
- Amory
- Crystal Springs
- Forest
- Ripley
- Booneville
- Holly Springs
- Greenwood
- Petal
- Philadelphia
- Moss Point
- Byram
And for those that were wondering, some of the most expensive cities to live in Mississippi include Madison, Ridgeland, Pass Christian, Oxford, Hernando, Natchez, Olive Branch, Ocean Springs, Starkville, Hattiesburg, Bay St. Louis, D’Iberville, Picayune, Columbus, and Gulfport.
Other Reasons to Live in Mississippi
While low housing costs are one of the most attractive benefits of living in the Mississippi area, especially in the economy we see today, it’s far from the only reason why so many people enjoy living in the state. It’s a beautiful environment and welcoming atmosphere with friendly people.
Let’s take a look at some of the other reasons why so many people are considering calling Mississippi their new home in 2022 and beyond:
- Your dollar will go much further, leading to a much happier lifestyle
- It’s a great place to pursue higher education (college, university, trade school, etc.) such as Mississippi State University
- You can find a rural home that’s close to a big city – the best of both worlds
- Traffic is rarely an issue and there are a lot of open, green spaces
- Mississippi residents are known for their hospitality and friendliness
- There’s a lot of history in Mississippi and homeowners get to be a part of it
- You’ll eat some of the best food of your life in the Mississippi area
- Amazing music and entertainment – it’s the birthplace of the blues and Elvis Presley
- The summers might be hot and humid, but you’ll get to enjoy a mild winter
- Always have access to fresh fruits and vegetables that make your mouth water
Of course, your experience in Mississippi will largely depend on the area you decide to live in. As with any location in the world, Mississippi has its beautiful areas and its questionable areas. Anytime you plan on moving – Mississippi or not – you should always do your research first.
Are You Selling a Home in Mississippi?
Do you currently own a home in Mississippi? Are you looking for a quick way of selling your home so you can downsize or turn over a new leaf in life? Do you need cash for your home? If you answered ‘yes’ to any of the questions above and want to avoid talking to a real estate agent, contact Sell Your House Fast Mississippi.
We take pride in helping homeowners get the most cash for their house as fast as possible. We understand life can put us in some peculiar situations and sometimes that calls for a change in plans. If you’re interested in how you can receive a cash offer for your home, contact us today!
