Lee County, Mississippi Housing Market Prices
Lee 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.
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Median home price 25% above the Mississippi median$162,980
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Median rent About the same as the Mississippi median More expensive than 85% of counties in Mississippi$956
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lee County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,980 | $130,069 | $248,835 |
| Price Trend (Annual %) | 11.5% | 5.6% | 7.5% |
| Median Gross Rent | $956 | $954 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lee County is about 25% higher than in Mississippi. Rent follows a similar pattern, running close to 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 Lee County, up about 11.5% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Lee County rose about 44.1% between 2015 and 2024, from $664 to $956. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Lee County.
Buying the median-priced home in Lee County costs roughly 14.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lee County. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Lee County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,980 | $130,069 | $248,835 |
| Median Household Income | $68,266 | $56,669 | $80,455 |
| Price-to-Income Ratio | 2.4 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lee County rose about 124.1%, while median household income rose about 65.8% 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 | Lee County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.3% | 59.8% | 58.5% |
| Rental Rate | 25.3% | 25.6% | 31.2% |
| Vacancy Rate | 13.4% | 14.6% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Lee County has a homeownership rate of 61.3%, higher than the Mississippi average of 59.8%. Its housing vacancy rate is 13.4%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Lee County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1986 | 1986 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Lee County was built around 1986. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Lee County, MS Housing Compared With Nearby Counties
How Lee County, MS compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lee County, MS | 83,034 | $162,980 #2/3 | $956 #1/3 | 70.8% #2/3 |
| Pontotoc County, MS | 31,525 | $95,972 | $863 | 69.8% |
| Monroe County, MS | 33,747 | $215,625 | $768 | 76.3% |
Frequently Asked Questions
Common questions about the housing market in Lee County, Mississippi.
What is the median home price in Lee County, Mississippi?
The median home price in Lee County, Mississippi is $162,980, higher than the Mississippi average of $130,069.
What is the average home price in Lee County, Mississippi?
The typical home price in Lee County, Mississippi, reported as the median sale price, is $162,980. 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 Lee County, Mississippi?
The median gross rent in Lee County, Mississippi is $956 per month, about the same as the Mississippi average.
What was the median gross rent in Lee County in 2020?
In 2020, the median gross rent in Lee County, Mississippi was $781 per month.
What is the price-to-rent ratio in Lee County, Mississippi?
The price-to-rent ratio in Lee County, Mississippi is about 14.2, meaning it would take roughly 14.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lee County.
Are home prices or rent rising faster in Lee County, Mississippi?
Both home prices and rent are rising in Lee County, up about 11.5% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lee County, Mississippi?
61.3% of households in Lee County, Mississippi own their home, higher than the Mississippi average of 59.8%.
What is the vacancy rate in Lee County, Mississippi?
The housing vacancy rate in Lee County, Mississippi is 13.4%, lower than the Mississippi average of 14.6%.
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