Department of Numbers

Mississippi Residential Rent and Rental Statistics

The median monthly gross residential rent in Mississippi was $728 in 2016 according to the Census ACS survey.1 Average gross rent was $676 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Mississippi median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Mississippi (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Mississippi Median Gross Rent $728 -0.68% +2.25%

Mississippi Real Gross Rent Trends

Median gross rent for Mississippi peaked in real terms in 2015 at $733 and is now $5 (0.68%) lower. At $676, real average gross rent in Mississippi was at its highest level in 2016 since the series began in 2005.

Real Gross Rent in Mississippi: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Mississippi

Date US Median Mississippi Median Mississippi Average
2016 $981 $728 $676
2015 $972 $733 $670
2014 $942 $717 $652
2013 $910 $712 $643
2012 $898 $677 $609
2011 $898 $711 $641
2010 $912 $717 $652
2009 $916 $701 $627
2008 $932 $722 $635
2007 $885 $683 $604
2006 $895 $685 $589
2005 $869 $642 $578

Mississippi Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Mississippi was 8.63% according to Census ACS data.

Rental Vacancy Rate in Mississippi

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Mississippi 8.63% -0.26% -0.08%

Trends in Mississippi Rental Vacancy Rate

The rental vacancy rate in Mississippi peaked in 2011 at 13.13%. Since then it has fallen by 4.50% to 8.63%. Data records for this series originated in 2005.

Rental Vacancy Rate: Mississippi, US

Rental vacancy rate in Mississippi

Historical Rental Vacancy Rate data for Mississippi

Date US Mississippi
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%
2008 7.86% 9.22%
2007 7.87% 10.16%
2006 7.70% 9.37%
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 20.92% in 2016 according to the ACS.

Mississippi Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Mississippi 20.92% -0.48% -1.46%

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 1.47% to 20.92%.

Fraction of Income towards Rent: Mississippi, US

Percent of median household income going towards median monthly gross rent in Mississippi

Historical Data for Annual Rent as a Fraction of Income in Mississippi

Date US Mississippi
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%
2008 19.00% 20.26%
2007 18.66% 20.11%
2006 18.90% 20.33%
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 2016 32.73% of households were renters according to Census ACS data.

Mississippi Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Mississippi 32.73% +0.12% -0.07%

Trends in the Mississippi Renter Fraction

The Mississippi household renter fraction peaked in in 2013 at 32.80% and is now 0.07% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Mississippi, US

Fraction of renters in Mississippi

History of Mississippi Renter Fraction

Date US Mississippi
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%
2008 33.36% 29.91%
2007 32.80% 28.71%
2006 32.73% 29.31%
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.