Rankin County, Mississippi Housing Market Prices
Rankin 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 4% below the Mississippi median$125,446
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Median rent 33% above the Mississippi median Among the 3 most expensive counties in Mississippi$1,270
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Rankin County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,446 | $130,069 | $248,835 |
| Price Trend (Annual %) | 0.7% | 5.6% | 7.5% |
| Median Gross Rent | $1,270 | $954 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rankin County is about 4% lower than in Mississippi. Rent is about 33% 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 Rankin County, up about 0.7% and 4.3% a year respectively. Rent is changing faster.
Median rent in Rankin County rose about 42.6% between 2015 and 2024, from $890 to $1,270. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Rankin County.
Buying the median-priced home in Rankin County costs roughly 8.2 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 Rankin County. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Rankin County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,446 | $130,069 | $248,835 |
| Median Household Income | $79,849 | $56,669 | $80,455 |
| Price-to-Income Ratio | 1.6 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rankin County rose about 79.2%, while median household income rose about 41.4% 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 | Rankin County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.7% | 59.8% | 58.5% |
| Rental Rate | 21.6% | 25.6% | 31.2% |
| Vacancy Rate | 6.6% | 14.6% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Rankin County has a homeownership rate of 71.7%, higher than the Mississippi average of 59.8%. Its housing vacancy rate is 6.6%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Rankin County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1989 | 1986 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Rankin County was built around 1989. On average, 2.6 people live in a home with about 6.0 rooms, staying for about 15.0 years on average.
Rankin County, MS Housing Compared With Nearby Counties
Rankin County, MS is the 2nd largest of the 4 counties compared here, 158,854 residents against a local median of 111,640. Rankin County, MS's median home price, at $125,446, runs 23% above the $101,955 typical of the counties around it.
Median rent tells the same story from another angle: $1,270 against a local median of $1,060, 20% above it. The counties themselves spread $178,180 on median home price, so Rankin County, MS sits at one end of an already wide local range rather than apart from it. Rankin County, MS has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Rankin County, MS | 158,854 | $125,446 #2/4 | $1,270 #1/4 | 76.8% #1/4 |
| Madison County, MS | 111,640 | $212,500 | $1,185 | 71.3% |
| Scott County, MS | 27,718 | $34,321 | $887 | 71.3% |
| Hinds County, MS | 218,428 | $101,955 | $1,060 | 58.3% |
Frequently Asked Questions
Common questions about the housing market in Rankin County, Mississippi.
What is the median home price in Rankin County, Mississippi?
The median home price in Rankin County, Mississippi is $125,446, lower than the Mississippi average of $130,069.
What is the average home price in Rankin County, Mississippi?
The typical home price in Rankin County, Mississippi, reported as the median sale price, is $125,446. 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 Rankin County, Mississippi?
The median gross rent in Rankin County, Mississippi is $1,270 per month, higher than the Mississippi average of $954.
What was the median gross rent in Rankin County in 2020?
In 2020, the median gross rent in Rankin County, Mississippi was $1,044 per month.
What is the price-to-rent ratio in Rankin County, Mississippi?
The price-to-rent ratio in Rankin County, Mississippi is about 8.2, meaning it would take roughly 8.2 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 Rankin County.
Are home prices or rent rising faster in Rankin County, Mississippi?
Both home prices and rent are rising in Rankin County, up about 0.7% and 4.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Rankin County, Mississippi?
71.7% of households in Rankin County, Mississippi own their home, higher than the Mississippi average of 59.8%.
What is the vacancy rate in Rankin County, Mississippi?
The housing vacancy rate in Rankin County, Mississippi is 6.6%, lower than the Mississippi average of 14.6%.
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