Builders Patch | HousingCount: Mississippi affordable housing data and latest news
Mississippi
Summary
Mississippi state is facing challenges to housing affordability. For every 100 low-income renter households, there are 71 units available that are affordable to them. The median household income in the state is $29,498 whereas the median rent in the state is $625. Currently, the state is short over 26,287 low-income housing units, meaning rental units that are affordable to households earning ≤60% of AMI.
- 31.1%: share of renter households
- 40.9%: share of low-income households
- 42.1%: share of rent-burdened households
Renter population data
Renters vs homeowners
| Household Type | Households | % Share |
|---|---|---|
| Renter households | 344,555 | 31.1% |
| Homeowner households | 764,115 | 68.9% |
| Total households | 1,108,670 | 100.0% |
Low-income renter households
| Income Group | Households | % Share |
|---|---|---|
| Extremely low-income (≤30% AMI) | 48,718 | 14.1% |
| Very low-income (31-50% AMI) | 40,602 | 11.8% |
| Low-income (51-80% AMI) | 51,734 | 15.0% |
| All low-income households (<80% AMI) | 141,054 | 40.9% |
Rent-burdened households
| Burden Level | Households | % Share |
|---|---|---|
| Moderately rent-burdened | 70,837 | 20.6% |
| 30.0–34.9% | 25,502 | 7.4% |
| 35.0–39.9% | 19,138 | 5.6% |
| 40.0-49.9% | 26,197 | 7.6% |
| Severely rent-burdened | 74,253 | 21.6% |
| ≥50.0% | 74,253 | 21.6% |
| All rent-burdened households | 145,090 | 42.1% |
Affordable housing shortage
- Median household income:
- Amount ($) in 2010: 22,196
- Amount ($) in 2021: 29,498
- Increase (2010–2021): 32.9%
- Median rent:
- Amount ($) in 2010: 454
- Amount ($) in 2021: 625
- Increase (2010–2021): 37.7%
Affordable housing stock
| Units | Amount |
|---|---|
| Supply (current stock) | 63,033 |
| Demand (total units needed) | 89,320 |
| Shortage | 26,287 |
| Supply/Demand Ratio | 70.6% |
Finance institutions
Mississippi Home Corporation
735 Riverside Drive
Jackson, MS 39202-1166
List of loan programs:
- Housing Tax Credit Program
- Housing Trust Fund
- HOME Investment Partnership Program
- Community Housing Development Organizations (CHDO)
QAP document (Qualified Allocation Plan)
The QAP is a document that states, and a few local agencies, must develop in order to distribute federal Low Income Housing Tax Credits (LIHTCs), which can be awarded only to a building that fits the QAP’s priorities and criteria. The priorities must be appropriate to local conditions.
Housing news
- How Fed Rate Cuts Impact the Housing Market
- Lower mortgage rates could ease the burden for homebuyers and those refinancing. Home sales may recover gradually.
- Housing market won’t come ‘unstuck’ until 2026, economists predict — here’s why
- Home prices expected to rise, and "lock-in effect" of homeowners persists.
- States With the Largest Homeless Populations
- Annual report shows a 12% increase in homelessness.
- The homebuying affordability gap is widening across the country
- National affordability gap nears a 10-year high due to rising costs.
- Homelessness appears to be worsening among workers
- Rising costs and lack of options force workers into an affordability crisis.