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New homes in Mississippi.
Mississippi offers the lowest home prices of any state in the country, making it an exceptional entry-level market and an increasingly interesting target for out-of-state investors seeking yields unavailable elsewhere
Mississippi's real estate market tells two very different stories. DeSoto County — the collection of suburbs directly south of Memphis including Southaven, Olive Branch, and Horn Lake — is one of the most underappreciated housing values in the South. These communities offer Memphis metro job access, consistently strong school systems, and new construction at prices that buyers from any other major metro would find remarkable. This combination has driven steady growth and appreciation.
The rest of Mississippi offers the lowest home prices of any state in the country. Oxford, home to the University of Mississippi, provides a vibrant college-town market. Hattiesburg near the University of Southern Mississippi offers solid value. The Gulf Coast communities of Gulfport and Biloxi serve a tourism and military economy. Jackson, the state capital, presents genuine investment opportunities for sophisticated buyers at entry prices unavailable anywhere else — though its urban challenges require careful due diligence.
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At a glance
Mississippi market snapshot
Median Home Price
$198,000
Median Rent
$950
Market Trend
stable
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What makes Mississippi different
Most Affordable State in the Country
Mississippi consistently ranks as the most affordable state in the U.S. with the lowest median home prices. Even DeSoto County near Memphis — the most expensive market in the state — offers home prices dramatically below comparable Memphis Tennessee suburbs.
DeSoto County: Mississippi's Growth Leader
Southaven, Olive Branch, and Horn Lake in DeSoto County offer Memphis metro employment access at Mississippi prices and taxes. Strong school systems, new construction, and consistent in-migration from the Memphis Tennessee side make DeSoto County the most dynamic real estate market in the state.
Attorney Closing State
Mississippi requires a licensed attorney to conduct real estate closings. The attorney handles title examination and the closing process. Budget $400-$700 for attorney fees and include this in your closing cost estimate.
Generous Homestead Exemption
Mississippi's Homestead Exemption exempts the first $75,000 of assessed value from most property taxes for primary residents. This means many Mississippi homeowners pay very little in annual property taxes — often under $500/year on a median home. Apply with your county tax assessor after closing.
Gulf Coast: Tourism and Military Market
Gulfport, Biloxi, and the Mississippi Gulf Coast serve a diverse market including casino industry workers, Keesler Air Force Base military personnel, retirees, and vacation home buyers. Flood and windstorm insurance are critical budget items for any coastal Mississippi purchase.
Ole Miss and Mississippi State: University Markets
Oxford (Ole Miss) and Starkville (Mississippi State) offer distinct university-town real estate markets with consistent rental demand from students, faculty, and staff. Both towns punch above their weight for amenities and have seen meaningful appreciation driven by university growth.
Cost of Living
Mississippi consistently ranks as the most affordable state in the country. Housing, groceries, utilities, and healthcare are all substantially below national averages, making even modest incomes stretch significantly further.
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Common questions
Mississippi FAQ
Is Mississippi a good place to buy a home?
Mississippi offers the most affordable housing in the United States. DeSoto County suburbs near Memphis offer excellent value with Memphis job market access at Mississippi prices. The Gulf Coast provides an affordable beachside lifestyle. Oxford and Starkville offer university-town investment fundamentals.
What is the average home price in Mississippi?
The statewide median is approximately $198,000. DeSoto County (Southaven, Olive Branch) averages $265,000-$310,000. Hattiesburg averages $200,000. Gulf Coast markets average $250,000-$300,000. Oxford averages $295,000. Jackson proper is among the lowest at $130,000-$160,000.
Is Mississippi an attorney closing state?
Yes — Mississippi requires a licensed attorney to handle real estate closings. The attorney conducts the title examination and oversees the closing process. Fees typically range from $400-$700.
What are property taxes like in Mississippi?
Mississippi has one of the lowest effective property tax rates in the country at around 0.65%. On a $198,000 home annual taxes run roughly $1,287. The Homestead Exemption is particularly generous — primary residents receive an exemption on the first $75,000 of assessed value, meaning many Mississippi homeowners pay very little in property taxes annually.
What should I know about buying in the DeSoto County Memphis suburbs?
DeSoto County offers some of the best suburban value in the entire South. You get Memphis metro employment, quality Mississippi school systems, lower Mississippi property taxes, and Mississippi income tax treatment — while living in communities like Southaven and Olive Branch that offer excellent amenities and new construction. It is one of the more compelling cross-state-line value stories in American real estate.
Is Mississippi eliminating its state income tax?
Yes — Mississippi has passed legislation to phase out its state income tax entirely over the next several years. Combined with already-low property taxes, no estate tax, and the most affordable housing in the country, Mississippi may become one of the most tax-favorable states for residents once the income tax elimination is complete.
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