The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.
But all things are not equal when it comes to real estate in the United States.
Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Mississippi. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.
The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency's House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.
Keep reading to discover which county in Mississippi has the lowest home prices.
Mac H. Alford // Wikimedia Commons
1 / 30#30. Amite County
- Monthly mortgage payment in 2020: $321 (3.0% less than 2019)
- Monthly mortgage payment in 2019: $331
- Median home value in 2020: $86,700
- Ranked #376 out of 3,120 counties nationwide
Marduk // Wikimedia Commons
2 / 30#29. Leake County
- Monthly mortgage payment in 2020: $320 (7.0% less than 2019)
- Monthly mortgage payment in 2019: $344
- Median home value in 2020: $86,400
- Ranked #369 out of 3,120 counties nationwide
NatalieMaynor // Wikimedia Commons
3 / 30#28. Panola County
- Monthly mortgage payment in 2020: $320 (5.6% less than 2019)
- Monthly mortgage payment in 2019: $339
- Median home value in 2020: $86,400
- Ranked #370 out of 3,120 counties nationwide
CapCase // Wikimedia Commons
4 / 30#27. Neshoba County
- Monthly mortgage payment in 2020: $319 (10.6% less than 2019)
- Monthly mortgage payment in 2019: $357
- Median home value in 2020: $86,000
- Ranked #354 out of 3,120 counties nationwide
Nick Shields // Wikimedia Commons
5 / 30#26. Choctaw County
- Monthly mortgage payment in 2020: $312 (12.8% less than 2019)
- Monthly mortgage payment in 2019: $358
- Median home value in 2020: $84,400
- Ranked #306 out of 3,120 counties nationwide
Jerrye & Roy Klotz, MD // Wikimedia Commons
6 / 30#25. Leflore County
- Monthly mortgage payment in 2020: $312 (10.6% less than 2019)
- Monthly mortgage payment in 2019: $349
- Median home value in 2020: $84,200
- Ranked #303 out of 3,120 counties nationwide
Tony Webster // Wikimedia Commons
7 / 30#24. Attala County
- Monthly mortgage payment in 2020: $310 (6.9% less than 2019)
- Monthly mortgage payment in 2019: $333
- Median home value in 2020: $83,700
- Ranked #294 out of 3,120 counties nationwide
NatalieMaynor // Wikimedia Commons
8 / 30#23. Yalobusha County
- Monthly mortgage payment in 2020: $306 (15.9% less than 2019)
- Monthly mortgage payment in 2019: $364
- Median home value in 2020: $82,600
- Ranked #275 out of 3,120 counties nationwide
Mississippi Department of Archives and History // Wikimedia Commons
9 / 30#22. Issaquena County
- Monthly mortgage payment in 2020: $304 (20.6% greater than 2019)
- Monthly mortgage payment in 2019: $252
- Median home value in 2020: $82,100
- Ranked #265 out of 3,120 counties nationwide
NatalieMaynor // Wikimedia Commons
10 / 30#21. Jasper County
- Monthly mortgage payment in 2020: $303 (5.9% less than 2019)
- Monthly mortgage payment in 2019: $322
- Median home value in 2020: $81,900
- Ranked #260 out of 3,120 counties nationwide
Jimmy Emerson from Dalton GA // Wikimedia Commons
11 / 30#20. Sunflower County
- Monthly mortgage payment in 2020: $301 (7.1% less than 2019)
- Monthly mortgage payment in 2019: $324
- Median home value in 2020: $81,300
- Ranked #252 out of 3,120 counties nationwide
Cohee // Wikimedia Commons
12 / 30#19. Benton County
- Monthly mortgage payment in 2020: $299 (0.7% less than 2019)
- Monthly mortgage payment in 2019: $301
- Median home value in 2020: $80,900
- Ranked #246 out of 3,120 counties nationwide
Jerrye & Roy Klotz, MD // Wikimedia Commons
13 / 30#18. Greene County
- Monthly mortgage payment in 2020: $298 (15.8% less than 2019)
- Monthly mortgage payment in 2019: $354
- Median home value in 2020: $80,500
- Ranked #233 out of 3,120 counties nationwide
Nlsanfor // Wikimedia Commons
14 / 30#17. Covington County
- Monthly mortgage payment in 2020: $296 (14.0% less than 2019)
- Monthly mortgage payment in 2019: $344
- Median home value in 2020: $79,900
- Ranked #222 out of 3,120 counties nationwide
Z28scrambler // Wikimedia Commons
15 / 30#16. Franklin County
- Monthly mortgage payment in 2020: $294 (12.2% less than 2019)
- Monthly mortgage payment in 2019: $335
- Median home value in 2020: $79,400
- Ranked #214 out of 3,120 counties nationwide
Nicholas Brown // Wikimedia Commons
16 / 30#15. Washington County
- Monthly mortgage payment in 2020: $290 (11.3% less than 2019)
- Monthly mortgage payment in 2019: $327
- Median home value in 2020: $78,400
- Ranked #194 out of 3,120 counties nationwide
NatalieMaynor // Wikimedia Commons
17 / 30#14. Kemper County
- Monthly mortgage payment in 2020: $283 (9.3% less than 2019)
- Monthly mortgage payment in 2019: $312
- Median home value in 2020: $76,300
- Ranked #165 out of 3,120 counties nationwide
Larry D. Moore // Wikimedia Commons
18 / 30#13. Scott County
- Monthly mortgage payment in 2020: $274 (9.0% less than 2019)
- Monthly mortgage payment in 2019: $301
- Median home value in 2020: $73,900
- Ranked #138 out of 3,120 counties nationwide
Cohee // Wikimedia Commons
19 / 30#12. Calhoun County
- Monthly mortgage payment in 2020: $271 (8.8% less than 2019)
- Monthly mortgage payment in 2019: $297
- Median home value in 2020: $73,100
- Ranked #126 out of 3,120 counties nationwide
Natalie Maynor // Wikimedia Commons
20 / 30#11. Wilkinson County
- Monthly mortgage payment in 2020: $270 (12.1% less than 2019)
- Monthly mortgage payment in 2019: $307
- Median home value in 2020: $72,900
- Ranked #121 out of 3,120 counties nationwide
Jerrye & Roy Klotz, MD // Wikimedia Commons
21 / 30#10. Humphreys County
- Monthly mortgage payment in 2020: $265 (12.3% less than 2019)
- Monthly mortgage payment in 2019: $302
- Median home value in 2020: $71,600
- Ranked #110 out of 3,120 counties nationwide
Chris Crookston // Wikimedia Commons
22 / 30#9. Coahoma County
- Monthly mortgage payment in 2020: $262 (10.9% less than 2019)
- Monthly mortgage payment in 2019: $294
- Median home value in 2020: $70,800
- Ranked #105 out of 3,120 counties nationwide
Infrogmation of New Orleans // Wikimedia Commons
23 / 30#8. Claiborne County
- Monthly mortgage payment in 2020: $259 (6.2% less than 2019)
- Monthly mortgage payment in 2019: $276
- Median home value in 2020: $70,000
- Ranked #98 out of 3,120 counties nationwide
Cohee // Wikimedia Commons
24 / 30#7. Chickasaw County
- Monthly mortgage payment in 2020: $255 (11.8% less than 2019)
- Monthly mortgage payment in 2019: $289
- Median home value in 2020: $68,900
- Ranked #84 out of 3,120 counties nationwide
Thomas R Machnitzki // Wikimedia Commons
25 / 30#6. Tallahatchie County
- Monthly mortgage payment in 2020: $255 (8.3% less than 2019)
- Monthly mortgage payment in 2019: $278
- Median home value in 2020: $68,800
- Ranked #82 out of 3,120 counties nationwide
Natalie Maynor // Wikimedia Commons
26 / 30#5. Sharkey County
- Monthly mortgage payment in 2020: $247 (8.9% less than 2019)
- Monthly mortgage payment in 2019: $271
- Median home value in 2020: $66,800
- Ranked #66 out of 3,120 counties nationwide
Mthunter58 // Wikimedia Commons
27 / 30#4. Jefferson County
- Monthly mortgage payment in 2020: $243 (11.0% less than 2019)
- Monthly mortgage payment in 2019: $273
- Median home value in 2020: $65,700
- Ranked #59 out of 3,120 counties nationwide
Chillin662 // Wikimedia Commons
28 / 30#3. Holmes County
- Monthly mortgage payment in 2020: $232 (5.7% less than 2019)
- Monthly mortgage payment in 2019: $246
- Median home value in 2020: $62,600
- Ranked #46 out of 3,120 counties nationwide
Rdstephens // Wikimedia Commons
29 / 30#2. Noxubee County
- Monthly mortgage payment in 2020: $229 (13.9% less than 2019)
- Monthly mortgage payment in 2019: $266
- Median home value in 2020: $61,900
- Ranked #44 out of 3,120 counties nationwide
Thomas R Machnitzki (thomas@machnitzki.com) // Wikimedia Commons
30 / 30#1. Quitman County
- Monthly mortgage payment in 2020: $195 (14.8% less than 2019)
- Monthly mortgage payment in 2019: $229
- Median home value in 2020: $52,800
- Ranked #16 out of 3,120 counties nationwide
