Cost of Living in Monroe County, Mississippi
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Monroe County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monroe County ranks #1,851 of 3,144 counties for affordability (bottom 41%)
Data Story
About Cost of Living in Monroe County, Mississippi
Monroe County hits affordability sweet spot
Monroe County renters spend 16.9% of income on rent, just above the national 16% benchmark and well below Mississippi's 19.6% state average. At $721 monthly on a $51,231 median income, Monroe delivers solid affordability without sacrifice.
Top tier of Mississippi affordability
Monroe County's 16.9% rent-to-income ratio ranks among Mississippi's most affordable, beaten only by Lee ($16.6%) and Madison ($16.7%). This performance is remarkable given that Monroe's median income trails both those counties, showing that conservative rents here do real work.
Lowest rents, solid wage foundation
Monroe's $721 rent ranks among the region's cheapest, yet the $51,231 median income is respectable—higher than Marion ($42,320) and Leflore ($33,188). This combination delivers the region's best bang-for-buck housing.
Renters prosper; homeowners thrive
Renters pay $721 monthly (16.9% of income), while homeowners commit just $637 monthly on properties valued at $115,200—representing only 14.9% of income. Monroe offers the region's best homeownership value relative to wages, beating even Lincoln County.
Monroe delivers real affordability gains
If you're relocating and prioritize keeping housing costs below 17% of income, Monroe County excels: cheap rents, affordable homes, and modest wages that still stretch your dollar. Compare your current burden—if you're paying more than 18%, Monroe offers measurable relief.
Cost of Living Advisory: Monroe County
Affordability Verdict
Housing in Monroe County is affordable. The median rent is $721/month against a median household income of $51,231, putting rent at 16.9% of income.
Rent vs. Own
At $721/month rent versus $637/month in owner costs, owning is roughly $84/month cheaper — a 12% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,840/year. For owner costs at the 28% rule, the required income is roughly $27,300/year. With a median household income of $51,231, most households can comfortably afford rent here. Notably, 26.0% of renter households in Monroe County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Monroe County sits 8% more expensive than Sunflower County ($670/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Monroe County
Rent Burden
16.9%
of gross income
Max Housing (28% Rule)
$1,195
per month
Owner Cost Burden
14.9%
of gross income
You can likely afford the median home in Monroe County
Median home value is $115,200. Estimated monthly cost: $920 vs. your max of $1,195.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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