Lafayette County, Mississippi Housing Market Prices
Lafayette County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 67% above the Mississippi median More expensive than 79% of counties in Mississippi$217,605
-
Median rent 14% above the Mississippi median More expensive than 93% of counties in Mississippi$1,085
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lafayette County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $217,605 | $130,069 | $248,835 |
| Price Trend (Annual %) | 65.4% | 5.6% | 7.5% |
| Median Gross Rent | $1,085 | $954 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lafayette County is about 67% higher than in Mississippi. Rent is about 14% higher than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lafayette County, up about 65.4% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Lafayette County rose about 35.9% between 2015 and 2024, from $799 to $1,085. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Lafayette County.
Buying the median-priced home in Lafayette County costs roughly 16.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lafayette County. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Lafayette County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $217,605 | $130,069 | $248,835 |
| Median Household Income | $70,279 | $56,669 | $80,455 |
| Price-to-Income Ratio | 3.1 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lafayette County rose about 70.1%, while median household income rose about 64.2% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lafayette County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.3% | 59.8% | 58.5% |
| Rental Rate | 24.0% | 25.6% | 31.2% |
| Vacancy Rate | 33.7% | 14.6% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Lafayette County has a homeownership rate of 42.3%, lower than the Mississippi average of 59.8%. Its housing vacancy rate is 33.7%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Lafayette County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1997 | 1986 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Lafayette County was built around 1997. On average, 2.7 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Lafayette County, MS Housing Compared With Nearby Counties
Lafayette County, MS is the largest of the 5 counties compared here, 58,327 residents against a local median of 32,166. Lafayette County, MS's median home price, at $217,605, runs 200% above the $72,633 typical of the counties around it.
Median rent tells the same story from another angle: $1,085 against a local median of $865, 25% above it. The counties themselves spread $143,187 on median home price, so Lafayette County, MS sits at one end of an already wide local range rather than apart from it. Lafayette County, MS has the highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lafayette County, MS | 58,327 | $217,605 #1/5 | $1,085 #1/5 | 63.8% #5/5 |
| Marshall County, MS | 33,979 | $177,591 | $867 | 79.1% |
| Calhoun County, MS | 12,852 | $49,294 | $663 | 72.2% |
| Panola County, MS | 32,808 | $34,404 | $874 | 71.1% |
| Pontotoc County, MS | 31,525 | $95,972 | $863 | 69.8% |
Frequently Asked Questions
Common questions about the housing market in Lafayette County, Mississippi.
What is the median home price in Lafayette County, Mississippi?
The median home price in Lafayette County, Mississippi is $217,605, higher than the Mississippi average of $130,069.
What is the average home price in Lafayette County, Mississippi?
The typical home price in Lafayette County, Mississippi, reported as the median sale price, is $217,605. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lafayette County, Mississippi?
The median gross rent in Lafayette County, Mississippi is $1,085 per month, higher than the Mississippi average of $954.
What was the median gross rent in Lafayette County in 2020?
In 2020, the median gross rent in Lafayette County, Mississippi was $967 per month.
What is the price-to-rent ratio in Lafayette County, Mississippi?
The price-to-rent ratio in Lafayette County, Mississippi is about 16.7, meaning it would take roughly 16.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lafayette County.
Are home prices or rent rising faster in Lafayette County, Mississippi?
Both home prices and rent are rising in Lafayette County, up about 65.4% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lafayette County, Mississippi?
42.3% of households in Lafayette County, Mississippi own their home, lower than the Mississippi average of 59.8%.
What is the vacancy rate in Lafayette County, Mississippi?
The housing vacancy rate in Lafayette County, Mississippi is 33.7%, higher than the Mississippi average of 14.6%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →