# 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](https://www.mshomecorp.com/developers/housing-tax-credit-program/)
- [Housing Trust Fund](https://www.mshomecorp.com/federal-programs/htf/)
- [HOME Investment Partnership Program](https://www.mshomecorp.com/federal-programs/home/)
- [Community Housing Development Organizations (CHDO)](https://www.mshomecorp.com/federal-programs/home/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

1. **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.  
2. **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.  
3. **States With the Largest Homeless Populations**  
   - Annual report shows a 12% increase in homelessness.  
4. **The homebuying affordability gap is widening across the country**  
   - National affordability gap nears a 10-year high due to rising costs.  
5. **Homelessness appears to be worsening among workers**  
   - Rising costs and lack of options force workers into an affordability crisis.