Mississippi Residential Rent and Rental Statistics
The median monthly gross residential rent in Mississippi was $777 in 2019 according to the Census ACS survey.1 Average gross rent was $689 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Mississippi median and average rent data will be released in September of 2021.
Data is also available below for Mississippi rental vacancy rates, Mississippi rent as a percent of median income and the fraction of renters in Mississippi.
Real Gross Rent in Mississippi (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Mississippi Median Gross Rent | $777 | -1.77% | +1.97% |
Mississippi Real Gross Rent Trends
Median gross rent for Mississippi peaked in real terms in 2018 at $791 and is now $14 (1.77%) lower. Average gross rent for Mississippi peaked in real terms in 2018 at $724 and is now $35 (4.83%) lower.
Real Gross Rent in Mississippi: Median, Average, US Median
Real Gross Rent History for Mississippi
| Date | US Median | Mississippi Median | Mississippi Average |
|---|---|---|---|
| 2019 | $1,097 | $777 | $689 |
| 2018 | $1,077 | $791 | $724 |
| 2017 | $1,043 | $765 | $688 |
| 2016 | $1,027 | $762 | $708 |
| 2015 | $1,017 | $768 | $701 |
| 2014 | $986 | $751 | $683 |
| 2013 | $953 | $746 | $673 |
| 2012 | $940 | $708 | $637 |
| 2011 | $941 | $744 | $671 |
| 2010 | $955 | $751 | $683 |
| 2009 | $960 | $734 | $656 |
| 2007 | $927 | $715 | $632 |
| 2005 | $910 | $673 | $605 |
Mississippi Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Mississippi was 10.67% according to Census ACS data.
Rental Vacancy Rate in Mississippi
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Mississippi | 10.67% | +0.19% | +2.04% |
Trends in Mississippi Rental Vacancy Rate
The rental vacancy rate in Mississippi peaked in 2011 at 13.13%. Since then it has fallen by 2.46% to 10.67%. Data records for this series originated in 2005.
Rental Vacancy Rate: Mississippi, US
Historical Rental Vacancy Rate data for Mississippi
| Date | US | Mississippi |
|---|---|---|
| 2019 | 5.97% | 10.67% |
| 2018 | 6.15% | 10.48% |
| 2017 | 6.18% | 10.71% |
| 2016 | 5.89% | 8.63% |
| 2015 | 5.85% | 8.89% |
| 2014 | 6.32% | 9.10% |
| 2013 | 6.49% | 8.71% |
| 2012 | 6.77% | 10.91% |
| 2011 | 7.40% | 13.13% |
| 2010 | 8.17% | 12.60% |
| 2009 | 8.43% | 11.34% |
| 2007 | 7.87% | 10.16% |
| 2005 | 7.74% | 8.56% |
Mississippi Rent as a Fraction of Income
Using median household income data for Mississippi, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Mississippi, median monthly gross rent as a fraction of median household income was 20.36% in 2019 according to the ACS.
Mississippi Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Mississippi | 20.36% | -0.49% | -0.56% |
Trends in Mississippi Rent as a Fraction of Income
The fraction of median Mississippi household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 22.39%. Since then it has fallen by 2.03% to 20.36%.
Fraction of Income towards Rent: Mississippi, US
Historical Data for Annual Rent as a Fraction of Income in Mississippi
| Date | US | Mississippi |
|---|---|---|
| 2019 | 20.03% | 20.36% |
| 2018 | 20.50% | 20.85% |
| 2017 | 20.13% | 20.46% |
| 2016 | 20.43% | 20.92% |
| 2015 | 20.63% | 21.40% |
| 2014 | 20.89% | 21.50% |
| 2013 | 20.78% | 22.38% |
| 2012 | 20.65% | 21.54% |
| 2011 | 20.70% | 22.39% |
| 2010 | 20.50% | 21.88% |
| 2009 | 20.12% | 21.09% |
| 2007 | 18.66% | 20.11% |
| 2005 | 18.89% | 19.60% |
Renter Fraction in Mississippi
You can calculate the renter fraction in Mississippi in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Mississippi as a fraction of total Mississippi households. In 2019 32.68% of households were renters according to Census ACS data.
Mississippi Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Mississippi | 32.68% | +0.89% | -0.05% |
Trends in the Mississippi Renter Fraction
The Mississippi household renter fraction peaked in in 2013 at 32.80% and is now 0.12% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Mississippi, US
History of Mississippi Renter Fraction
| Date | US | Mississippi |
|---|---|---|
| 2019 | 35.89% | 32.68% |
| 2018 | 36.05% | 31.79% |
| 2017 | 36.13% | 31.50% |
| 2016 | 36.88% | 32.73% |
| 2015 | 36.97% | 32.61% |
| 2014 | 36.90% | 32.33% |
| 2013 | 36.50% | 32.80% |
| 2012 | 36.09% | 31.81% |
| 2011 | 35.42% | 30.19% |
| 2010 | 34.65% | 30.24% |
| 2009 | 34.13% | 30.51% |
| 2007 | 32.80% | 28.71% |
| 2005 | 33.10% | 30.13% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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