The 10 Cheapest Places To Live In Mississippi In 2023


The cheapest places to live in Mississippi for 2023 are Holly Springs, Ripley, and Forest.

If you’re searching for the cheapest places to live in Mississippi, you’re in for a treat! From Elvis Presley’s birthplace of Tupelo to the delicious gator bites of Gulfport, Mississippi places are known for their affordable, fun-filled lifestyle. But did you know that places in the Magnolia State boast some of America’s most economical real estate and living costs?

Living in Mississippi is not just about affordable fun; it is also home to a few of the cheapest places to buy a house. We looked at Mississippi Census data to find the communities with low home prices, reduced living costs, and a rich array of local amenities to enjoy.

Mississippi’s most affordable places to live maintain safety and quality of life. Mississippi has some of the safest places to live in the country. And finding a good job should be eminently doable as the unemployment rate in these Mississippi towns is lower than the national average.

So, want to know where the cheapest places in Mississippi are to live? Find a quiet spot by the Mississippi River and read on.

The 10 most affordable places to live in Mississippi

  1. Holly Springs
  2. Ripley
  3. Forest
  4. Pontotoc
  5. Clarksdale
  6. Leakesville
  7. Philadelphia
  8. Booneville
  9. Byram
  10. Yazoo City

What’s the most affordable place to live in Mississippi? The cheapest place to live in Mississippi is Holly Springs according to the most recent Mississippi Census data on incomes, rent, and home prices.

Ask any Mississippian; they will say that their corner of the deep South is the most affordable. Heck, there’s a reason The Hospitality State is the 34th most populous in the country.

But, if you care about home values and the cost of living, look at the list below of Mississippi’s cheapest places to live.

Check out some more reading about Mississippi and the cheapest places in the country:

The 10 cheapest places to live in Mississippi for 2023

Holly Springs is a top contender for the most affordable places to live in Mississippi. Its overall cost of living is rated at 74.0 out of 100, making it an attractive place to settle down. The median home value in Holly Springs is $86,300, which is significantly lower than the state’s median home value. Similarly, the median rent is only $636 per month, which is below the national average.

Despite being affordable, Holly Springs offers a great quality of life. The city has a population of 6,743, and it is the county seat of Marshall County.

Overall SnackAbility

4
/10

Population: 6,743
Rank Last Year: 8 (Up 7)
Home Price To Income Ratio: 2.1x (most affordable)
Income To Rent Ratio: 65.4x (36th cheapest)
More On Holly Springs: Real Estate | Cost Of Living

Holly Springs, MS

Ripley makes the cut as the second least expensive city in Mississippi thanks to being an excellent place for renters. The median rent in Ripley is a measly $546, and with residents earning a median income of $54,647, Ripley residents pay the smallest portion of their income statewide on rent. If you’d rather settle down and buy rather than rent, a home will set you back about $113,700. With all that extra cash you’ll have leftover, you can buy some seriously unique pieces at Ripley’s First Monday Day Trades, one of the oldest flea markets in the country.

Ripley is located in hills region of northern Mississippi, a half hour south of the Tennessee border.

Overall SnackAbility

5
/10

Population: 5,412
Rank Last Year: 3 (Up 1)
Home Price To Income Ratio: 2.1x (2nd most affordable)
Income To Rent Ratio: 100.1x (38th cheapest)
More On Ripley: Real Estate | Cost Of Living

Ripley, MS

Located about 50 miles east of Jackson off of Route 20 is Forest our third cheapest place to live in mississippi for 2023. Because of its proximity to the interstate, several prominent companies have manufacturing and processing plants in town. Those companies include Koch Foods, Tyson Foods, and the Forest Packing Company. Additionally, Raytheon has a manufacturing center in Forest, which means the local economy offers diversity for would be residents.

On a cost of living basis, the town is over 20% cheaper than the national average with particular affordability in housing. The median home value comes in at a level of $106,600. However, the real deals come when you enter the rental market. The median rent in the area stands at $610. That counts as the seventh lowest mark in the state. Not to mention that Forest is also incredibly safe for families. A good deal all around.

Overall SnackAbility

5
/10

Population: 5,464
Rank Last Year: 2 (Down 1)
Home Price To Income Ratio: 2.4x (9th most affordable)
Income To Rent Ratio: 74.2x (4cheapest)
More On Forest: Real Estate | Cost Of Living

Forest, MS

Source: Public domain

If you’re lucky enough to have walked Mississippi’s Tanglefoot Trail, you may have already passed through Pontotoc, a quickly growing city just west of Tupelo. One reason that Pontotoc is growing is that it’s an absolute haven for renters. The median rent in Pontotoc is $675, and renters pay the eighth smallest portion of their income on rent statewide.

The median income in Pontotoc is $49,036 and the median home price is $123,400.

Overall SnackAbility

6
/10

Population: 5,621
Rank Last Year: 25 (Up 21)
Home Price To Income Ratio: 2.5x (15th most affordable)
Income To Rent Ratio: 72.7x (5th cheapest)
More On Pontotoc: Real Estate | Cost Of Living

Pontotoc, MS

A city in the Mississippi Delta region, Clarksdale is a city with historic ties to the development of blues music in America. Blues musicians such as Ike Turner and Duke Ellington were hosted at the Riverside Hotel, a popular stop on the Mississippi Blues Trail. You’ll certainly have no reason to sing the blues if you decide to buy a home in Clarksdale, where the median home price is the second in the state at $73,800. With residents earning a median income of $30,711, Clarksdale has the 11th best home price to income ratio in Mississippi.

Overall SnackAbility

4
/10

Population: 15,124
Rank Last Year: 4 (Down 1)
Home Price To Income Ratio: 2.4x (11th most affordable)
Income To Rent Ratio: 47.4x (53rd cheapest)
More On Clarksdale: Real Estate | Cost Of Living

Clarksdale, MS

Leakesville in Mississippi is one of the most affordable places to live in the state, making it a great option for people searching on a budget. With a population of 5,598, this small town offers residents a median home value of just $95,600, which is significantly lower than the state median, and a median rent of $689 per month.

Overall SnackAbility

3
/10

Population: 5,598
Rank Last Year: 23 (Up 17)
Home Price To Income Ratio: 2.5x (18th most affordable)
Income To Rent Ratio: 54.7x (59th cheapest)
More On Leakesville: Real Estate

Located about 40 miles northwest of Meridian, Philadelphia, Mississippi is a heck of a lot cheaper than it’s northern namesake. With a median rent of $757, Philadelphia is the least economical place to rent on this list. However, the city makes up for it by having the 12th cheapest homes in the state. Paying of a median mortgage of $94,200 on a median income of $37,551 is no sweat for Philadelphia residents. Since you’re already lucky enough to live in the seventh most affordable city in Mississippi, we vote you let your luck ride at Philadelphia’s Silver Star Casino. Even if you lose at the casino, you’ll be winning big on housing costs.

Overall SnackAbility

5
/10

Population: 7,107
Rank Last Year: 5 (Down 2)
Home Price To Income Ratio: 2.5x (13th most affordable)
Income To Rent Ratio: 49.6x (62nd cheapest)
More On Philadelphia: Real Estate | Cost Of Living

Philadelphia, MS

Like Pontotoc, Booneville’s position on this list is largely due to being a boon to renters. At $534, Booneville’s median rent is less than half the average rent in Mississippi, which is already substantially lower than the national average. However, Booneville is the least economical place to buy a home on this list, with a median home price of $120,300 and a median income of $41,992.

Booneville is located about a half hour north of Tupelo.

Overall SnackAbility

5
/10

Population: 8,702
Rank Last Year: 16 (Up 8)
Home Price To Income Ratio: 2.9x (3most affordable)
Income To Rent Ratio: 78.6x (17th cheapest)
More On Booneville: Real Estate | Crime Rate | Cost Of Living

Booneville, MS

Like Diamondhead, housing in Byram is a bit on the expensive side for this list. However, because Byram’s median income is also high at $68,819, residents don’t pay as big a chunk of their earnings towards housing as elsewhere in the state. While a median home price of $147,600 may seem high, folks in Byram enjoy the third lowest home price to income ratio in Mississippi. Might we suggest using the extra cash you’ll have on the freshest produce in town at the local farmer’s market.

Byram is a southern suburb of Jackson.

Overall SnackAbility

8
/10

Population: 12,591
Rank Last Year: 10 (Up 1)
Home Price To Income Ratio: 2.1x (3rd most affordable)
Income To Rent Ratio: 60.2x (6th cheapest)
More On Byram: Real Estate | Crime Rate | Cost Of Living

Yazoo City is an affordable place to live in Mississippi with a median home value of $66,400 and median rent of $747.

As the county seat of Yazoo County, it boasts a rich history and culture. Named after the Yazoo River, which was named after the Yazoo tribe, this city has deep roots in Native American history. Today, residents can enjoy exploring local museums and landmarks that showcase the city’s history. Plus, with a population of 10,887, Yazoo City maintains a small-town feel while still offering all the amenities and services residents need to live comfortably.

Overall SnackAbility

4
/10

Population: 10,887
Rank Last Year: 35 (Up 25)
Home Price To Income Ratio: 2.2x (5th most affordable)
Income To Rent Ratio: 40.3x (63rd cheapest)
More On Yazoo City: Real Estate | Cost Of Living

Yazoo City, MS

Source: Public domain

Cheapest places to live in Mississippi FAQs

The county in Mississippi with the lowest cost of living is Holmes County. The average living wage in Holmes County is $72,424 according to MIT data. Holmes County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Mississippi as a whole. Childcare costs $4,791 a year in Holmes County for two children compared to the Mississippi average of $10,663. Housing costs, defined as a blend of the average rent and average mortgage payment, are $8,208 per year in Holmes County compared to $9,444 on average in Mississippi.

The cost of living in Mississippi is 10.3% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Mississippi is $80,523 vs the national average for a family of four with two working parents of $89,744. The median income of a Mississippi household is $46,511.

The cheapest housing market in Mississippi is Clarksdale. The average home value in Clarksdale is $65,100, the lowest in the state. The average home value in Mississippi is $125,500, almost 1.9 times higher than Clarksdale.

Methodology: How we determined the most affordable places to live in the Magnolia State for 2023

Map Of The Cheapest Places To Live In Mississippi
Determining affordability for places in Mississippi boils down to two factors:

  1. How much money do I make?
  2. How much does it cost to live here?

You need to understand your costs in the context of how much money you make to determine affordability. For example, imagine a place in Mississippi where median incomes are $100,000 and housing costs $200,000 to buy. That’s more affordable than living in a place with a median income of $50,000 where houses cost $101,000. The ratio of income to home prices is higher in the first example.

With that logic in mind, we derived several cost of living statistics from the latest Census American Community Survey 2017-2021 for Mississippi. The cost of living statistics are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (higher is better)
  • Median Home Price

You can include median home price as a stand alone variable because high home prices generally correlate with higher costs for all goods and services (heating, electricity, food, etc). You then compare these cost of living metrics for each place in Mississippi to figure out which is the least expensive.

We aggregate those rankings into a “Cost of Living Index” for each city in Mississippi. The “Cost of Living Index” allows you to rank all of the 63 places in Mississippi that have more than 5,000 people from least expensive to most expensive.

The place in Mississippi with the lowest cost of living according to the data is Holly Springs. You can download the entre cost of living data set for Mississippi here.

Mississippi affordabilility summary

This is an accurate list of the most affordable places to live in Mississippi for 2023, if you’re looking at the cost of living numbers in Mississippi.

Here’s a look at the most expensive cities in Mississippi according to the data:

  1. Starkville
  2. Oxford
  3. Cleveland

For more Mississippi reading, check out:

The cheapest places to live in Mississippi

Rank City Cost of Living Index
1 Holly Springs 6.33
2 Ripley 9.0
3 Forest 11.33
4 Pontotoc 18.33
5 Clarksdale 19.0
6 Leakesville 19.33
7 Philadelphia 20.33
8 Booneville 21.67
9 Byram 21.67
10 Yazoo City 22.0
11 Louisville 22.0
12 Moss Point 22.33
13 Senatobia 23.0
14 Jackson 24.17
15 Horn Lake 24.33
16 Amory 25.33
17 Greenville 25.33
18 Tupelo 26.0
19 Madison 26.0
20 Brookhaven 26.17
21 Laurel 26.33
22 Richland 26.33
23 Pascagoula 26.67
24 Long Beach 26.67
25 Petal 27.0
26 Brandon 27.67
27 Olive Branch 28.33
28 Southaven 28.33
29 Pearl 29.0
30 New Albany 29.17
31 Greenwood 30.0
32 Grenada 30.33
33 Diamondhead 31.0
34 Gautier 31.33
35 Clinton 31.67
36 Vicksburg 32.33
37 Mccomb 32.33
38 Meridian 34.67
39 Batesville 35.0
40 Natchez 36.0
41 Indianola 36.33
42 Ocean Springs 36.67
43 Corinth 37.0
44 West Point 37.33
45 Bay St. Louis 38.0
46 Columbia 40.0
47 Flowood 40.67
48 Ridgeland 40.67
49 Biloxi 41.0
50 D’iberville 41.0
51 Kosciusko 41.33
52 Carthage 41.67
53 Columbus 43.5
54 Waveland 44.0
55 Gulfport 46.0
56 Pass Christian 46.0
57 Hattiesburg 46.33
58 Picayune 47.67
59 Canton 48.0
60 Hernando 48.33
61 Cleveland 49.67
62 Oxford 53.0
63 Starkville 58.0
Editor’s Note: We updated this article for 2023. This is our tenth time ranking the cheapest places to live in Mississippi.

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.