News Summary
In June 2025, home values in Mississippi rose significantly, creating serious affordability challenges for residents. With a typical home value in the U.S. at $367,369, Mississippi’s market is witnessing higher prices despite economic difficulties. The 30-year mortgage rate also stood at 6.75%, further impacting buyers’ purchasing power. The disconnect between income and housing costs continues to prompt new legislative proposals aimed at addressing these issues and promoting affordable housing development across the state.
Jackson, Mississippi – In June 2025, home values in Mississippi continued to experience significant increases, contributing to ongoing affordability challenges for residents. The typical home value in the United States at that time was $367,369, reflecting a modest 0.2% increase from the previous year. In contrast, the housing market in Mississippi is seeing vastly different trends, with some areas witnessing notable surges in home prices despite a challenging economic landscape.
As of July 17, 2025, the 30-year fixed mortgage rate stood at 6.75%. This rate is an important factor influencing buyers’ purchasing power and overall housing affordability in the state. The increase in home values in Mississippi comes alongside high poverty rates, with approximately 18% of residents living below the poverty line as of 2023 and a median household income in the state of $54,915.
Home Prices Across Mississippi
Analysis from Stacker revealed the Mississippi cities with the highest home values based on the Zillow Home Values Index. The most expensive housing markets include:
- Memphis, TN-MS-AR: 9 cities
- Jackson, MS: 7 cities
- Gulfport-Biloxi, MS: 6 cities
- Oxford, MS: 4 cities
- Hattiesburg, MS: 1 city
- Columbus, MS: 1 city
- Picayune, MS: 1 city
- Starkville, MS: 1 city
Selected Typical Home Values and Changes
Key statistics for typical home values across various cities in Mississippi as of June 2025 are as follows:
- Gulfport-Biloxi: $241,409 (1-year change: -2.3%, 5-year change: +32.0%); also noted is a higher estimate of $244,239 with a price increase of 7.9% over the last year.
- Oxford: $245,266 (1-year change: +3.1%, 5-year change: +41.6%); higher brackets such as $401,034 showed a 9.8% increase over one year.
- Memphis: $246,680 with a slight rise of 0.5% over the past year; higher estimates reached $378,741, reflecting an annual rise of 7.0%.
- Jackson: $246,809, increasing by 3.6% over the past year, with other home values in the city also trending upward.
- Starkville: $278,744 (1-year change: +3.3%, 5-year change: +36.5%).
- Picayune: $259,338, increasing by 3.8% over the past year.
Economic Challenges for Home Buyers
Despite the rising home values, the cost of purchasing a home in Mississippi remains prohibitive for many residents. The median household income required to afford a home priced at $289,450 is approximately $85,239. With average earnings in the state around $58,000 annually, many residents fall short of this requirement. Additionally, MIT’s living wage calculator suggests an adult with no children would need to earn $20.75 per hour just to maintain self-sufficiency.
Government Initiatives
The growing disconnect between earnings and housing costs has prompted legislative proposals aimed at addressing these issues. Lieutenant Governor Delbert Hosemann has announced plans to propose tax incentives to lower home prices, particularly for new construction. The Gulf Coast Association of Realtors has backed initiatives aimed at reducing the cost of building materials, further suggesting that such measures are necessary to improve the overall housing market.
Legislative suggestions currently on the table include the More Homes on the Market Act and the Revitalize Downtowns and Main Streets Act, both of which aim to stimulate affordable housing development across Mississippi.
As home values surge, residents and lawmakers alike are grappling with the growing affordability crisis in Mississippi, necessitating urgent action to ensure that homeownership remains within reach for all.
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Additional Resources
- WJTV: Cities with the Most Expensive Homes in Mississippi
- Stacker: Cities with the Most Expensive Homes in Mississippi
- Clarion Ledger: How Much Do You Need to Make to Buy a Home in Mississippi?
- Newsweek: US City where Home Prices have Jumped Nearly 30 Percent
- SFGate: 7.9% of Homeowners in Mississippi Will Face a Challenge
- Wikipedia: Mississippi
- Google Search: Mississippi Housing Market
- Google Scholar: Mississippi Home Ownership
- Encyclopedia Britannica: Mississippi
- Google News: Mississippi Real Estate
Author: STAFF HERE STARKVILLE WRITER
The STARKVILLE STAFF WRITER represents the experienced team at HEREstarkville.com, your go-to source for actionable local news and information in Starkville, Oktibbeha County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Cotton District Arts Festival, Bulldog Bash, and Mississippi State University homecoming celebrations. Our coverage extends to key organizations like the Starkville Area Chamber of Commerce and the Mississippi State University Extension Service, plus leading businesses in education and agriculture that power the local economy such as Mississippi State University and Starkville Manufacturing. As part of the broader HERE network, we provide comprehensive, credible insights into Mississippi's dynamic landscape.
