Mississippi is emerging as a prime location for first-time homebuyers, offering attractive affordability with an average starter home priced at $184,470. This is markedly lower than the national average of $440,000, requiring an income of just $44,182 to afford. While affordability varies across cities, areas like Meridian and Hattiesburg stand out for their reasonable prices. Despite a significant increase in home prices over the past five years, Mississippi's monthly mortgage payment rises are less steep than national averages, making home ownership accessible for many.
In Mississippi, the average starter home costs $184,470, significantly lower than the national average, making it one of the most affordable states for first-time homebuyers.
Despite a 54% rise in starter home prices over the last five years, Mississippi's increase in monthly mortgage payments is relatively modest at 117% compared to national trends.
#first-time-homebuyers #affordable-housing #mississippi-real-estate #housing-market-trends #starter-homes
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