Cost of Living in Panola County, Mississippi
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Panola County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Panola County ranks #989 of 3,142 counties for affordability (top 31%)
Sourced county brief
Median Gross Rent in Panola County Reaches 874 Dollars Monthly
Median gross rent in Panola County is $874 per month according to ACS 5-year estimates. This amount is $69 above the Mississippi unweighted county mean of $805. The official median gross rent as a percentage of household income (GRAPI) is 30.6%, which differs from the state unweighted county mean by 1.1 percentage points. This official B25071 figure describes the median relationship between rent and income among renter-occupied units. The median renter-household income for the county was estimated at $30,971. Regarding the ownership market, the median home value in Panola County is $127,800, which is below the Mississippi unweighted county mean of $135,817. For owner-occupied units, the median selected monthly owner cost is $622. This figure is $54 lower than the state's unweighted county mean of $676. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Panola County
Affordability Verdict
ACS B25071 estimates median gross rent at 30.6% of renter household income in Panola County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $874 per month; median selected monthly owner costs are $622. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $34,960 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Mississippi unweighted mean of county median rents is $805 per month. Panola County's $874 median is 8.6% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Panola County
Rent Burden
22.8%
of gross income
Max Housing (28% Rule)
$1,072
per month
Owner Cost Burden
16.2%
of gross income
You can likely afford the median home in Panola County
Median home value is $127,800. Estimated monthly cost: $1,020 vs. your max of $1,072.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
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
What is the cost of living in Panola County, Mississippi?
What is the median rent in Panola County?
Is Panola County affordable?
How does Panola County's rent compare to the state average?
What is the median home value in Panola County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Panola County, Mississippi? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Panola County
Whether you're buying in Panola County, Mississippi, or refinancing, compare rates from top lenders using the terms each lender provides.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.