Cost of Living in Franklin County, Mississippi

$706/mo

Median Monthly Rent

$95,100

Median Home Value

10% below state averageUnaffordable

At a Glance

Median Monthly Rent

$706/mo

10% below state average

Median Home Value

$95,100

66% below national

Rent-to-Income Ratio

24.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Franklin County Compares

Median monthly rent comparison

Franklin County$706/mo

Mississippi Average$782/mo

National Median$1,163/mo

Detailed Housing Stats

$706/mo

Median Gross Rent

$95,100

Median Home Value

$418/mo

Monthly Owner Cost

24.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Franklin County, Mississippi

Lowest income, but affordable housing

Franklin County's median household income of $45,618 is 39% below the national average, yet its 18.6% rent-to-income ratio ranks better than the national standard. This rare affordability paradox reflects extremely low rents—just $706 monthly—that align with residents' modest earnings.

Mississippi's most affordable rental county

Franklin boasts the lowest rent-to-income ratio in our eight-county sample at 18.6%, and its $706 monthly rent is 10% below the state average. The county offers the clearest example of housing costs matching local income levels, avoiding the strain seen in wealthier areas.

Cheapest rents, lowest incomes

Franklin's $706 rent and $45,618 income are the lowest in the region, but the balance between them is notably healthier than higher-income counties. Greene County ($811 rent, $55,838 income) and George County ($868 rent, $54,822 income) charge more while offering only slightly better wages.

Owner costs stay lean and accessible

Franklin's $418 monthly owner cost (11% of income) is the absolute lowest in the sample, making homeownership dramatically more accessible than renting. At a median home value of just $95,100, residents can build equity affordably—a genuine advantage for lower-income households.

Best bet for budget-conscious relocators

If affordability is your north star, Franklin County delivers: the lowest rent-to-income ratio, cheapest rents, and most achievable homeownership costs statewide. Readers priced out of wealthier counties like DeSoto or Harrison should seriously explore Franklin's genuine housing accessibility.

Affordability Calculator

See how your income compares to housing costs in Franklin County

Your Annual Household Income

Rent Burden

18.6%

of gross income

Max Housing (28% Rule)

$1,064

per month

Owner Cost Burden

11.0%

of gross income

You can likely afford the median home in Franklin County

Median home value is $95,100. Estimated monthly cost: $759 vs. your max of $1,064.

Rent Affordability Guide

Your rent-to-income ratio18.6%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Franklin County, Mississippi?

Franklin County, Mississippi has a median monthly rent of $706/mo and a median home value of $95,100. The affordability rating is Unaffordable, with rent making up approximately 24.0% of median household income.

What is the median rent in Franklin County?

The median gross rent in Franklin County is $706/mo. This is 10% below state average for Mississippi.

Is Franklin County affordable?

Franklin County is rated Unaffordable based on rent-to-income ratio of 24.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Franklin County's rent compare to the state average?

Franklin County's median rent of $706/mo is 10% below state average of $782/mo for Mississippi.

What is the median home value in Franklin County?

The median home value in Franklin County, Mississippi is $95,100. This is 66% below the national median home value of $281,900.