Cost of Living in Smith County, Mississippi
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Smith County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Smith County ranks #572 of 3,144 counties for affordability (top 18%)
Data Story
About Cost of Living in Smith County, Mississippi
Smith County rents are a bargain nationally
At 15.5%, Smith County's rent-to-income ratio sits well below the nation's affordability threshold—renters here spend significantly less of their income on housing than typical Americans. The national median household income of $74,755 towers over Smith County's $51,396, yet monthly rent of $664 keeps housing costs manageable even for lower earners.
Among Mississippi's most affordable counties
Smith County ranks among the state's best for rental affordability, with a 15.5% rent-to-income ratio that beats Mississippi's 19.6% state average. Median rent of $664 undercuts the state's $782 standard, giving renters breathing room that many Mississippi counties don't enjoy.
Competitive pricing in rural central region
Smith County's $664 rent aligns closely with Sunflower County ($670) and Tallahatchie County ($695) to the north, creating a consistent rental landscape across rural central Mississippi. Homeownership costs diverge more widely—Smith's $532 monthly mortgage payment is notably lower than nearby Tippah County's $667.
Housing takes a modest slice of income
Smith County residents allocate just 15.5% of their $51,396 median income to rent, leaving $3,860 annually for other essentials. For homeowners, monthly costs average $532, meaning owner-occupied housing claims roughly 12.5% of median household income.
Affordable stability for budget-conscious families
If you're relocating on a moderate income, Smith County offers a rare combination: rents below $700 and median home values under $120,000. Compare this stability to neighboring counties or Mississippi's state average before deciding—you may find Smith's affordability hard to beat.
Cost of Living Advisory: Smith County
Affordability Verdict
For renters in Smith County, the market is affordable. Expect to pay around $664/month in gross rent, with 24.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Smith County is $664/month, while owner costs run $532/month. Owning saves approximately $132/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,560/year. For owner costs at the 28% rule, the required income is roughly $22,800/year. With a median household income of $51,396, most households can comfortably afford rent here. Notably, 24.0% of renter households in Smith County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Mississippi, Smith County is less affordable than Clay County by roughly 8% ($664/mo vs $718/mo).
Affordability Calculator
See how your income compares to housing costs in Smith County
Rent Burden
15.5%
of gross income
Max Housing (28% Rule)
$1,199
per month
Owner Cost Burden
12.4%
of gross income
You can likely afford the median home in Smith County
Median home value is $114,000. Estimated monthly cost: $910 vs. your max of $1,199.
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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