Cost of Living in Sharkey County, Mississippi
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Sharkey County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Sharkey County ranks #867 of 3,144 counties for affordability (top 28%)
Data Story
About Cost of Living in Sharkey County, Mississippi
Sharkey balances low rent with tight income
Sharkey County residents spend 20.9% of income on rent, slightly above Mississippi's 19.6% average despite rock-bottom $622 monthly payments. The county's median household income of $35,741 ranks among the state's lowest, making even affordable rents feel substantial relative to earning power.
Affordable rent, challenging income dynamics
Sharkey County's $622 median rent nearly matches Prentiss County's state-leading affordability, but Sharkey's 20.9% rent-to-income ratio exceeds Mississippi's 19.6% average due to lower household incomes. The county offers cheap housing in the context of limited economic opportunity.
Cheap rent, tightest income constraints
Sharkey's $622 rent rivals Prentiss County's lowest-in-region pricing, yet Sharkey's $35,741 median income trails all peers except Quitman County at $32,131. This income disadvantage means Sharkey's cheap rents don't necessarily translate to affordability advantages.
Homeownership costs exceed renting
Uniquely among these counties, Sharkey homeowners spend $716 monthly—$94 more than renters at $622—suggesting an unusual ownership cost structure. Despite low rents, housing (both options) consumes 20.9% of the $35,741 median income, leaving limited flexibility for household emergencies or savings.
Low costs can't overcome wage gaps
While Sharkey offers the cheapest or near-cheapest rents, the county's income constraints rival Quitman's challenges. Seeking employment or relocation to higher-wage counties like Rankin, Pontotoc, or Simpson will have far greater financial impact than finding marginally cheaper housing.
Cost of Living Advisory: Sharkey County
Affordability Verdict
Sharkey County is affordable for renters, with a median gross rent of $622/month representing approximately 20.9% of median household income. The rent burden (GRAPI) stands at 30.0%.
Rent vs. Own
Renters in Sharkey County pay $622/month on average, compared to $716/month for homeowners. This market favors renters by about 13%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $24,880/year. For owner costs at the 28% rule, the required income is roughly $30,686/year. With a median household income of $35,741, most households can comfortably afford rent here. Notably, 30.0% of renter households in Sharkey County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Sharkey County sits 8% less expensive than Calhoun County ($674/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Sharkey County
Rent Burden
20.9%
of gross income
Max Housing (28% Rule)
$834
per month
Owner Cost Burden
24.0%
of gross income
The median home in Sharkey County may be a stretch
Median home value is $108,000. Estimated monthly cost: $862 vs. your max of $834.
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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