Mississippi housing (Jackson, Clinton, Oxford: sales, house prices, neighborhood)

[familyguyfan]

I have been looking at the pages on city-data and noticed that the house prices in Mississippi is very low. Another city-data poster said that they live in a house just a few blocks away from the beach for $30,000. Why are they so low? I would love to live somewhere that is more affordable. Is the cost of living in Mississippi lower than other states overall, or is it mostly the house prices?

[Thriftygal]

Well I am speaking for North Mississippi, which is the only part of the state I have lived in thus far, but I believe as a whole Mississippi has a lower cost of living as compared to some other states. I think property taxes as well as vehicle tags are very reasonable. We do pay state taxes, but our sales tax is only 7% (where I live). Our weather isn't extreme, so our utility bills are pretty constant and reasonable (of course recently they have jumped considerably due to gas prices). I would contribute wages to the lower cost of living.

[familyguyfan]

Originally Posted by Thriftygal

Well I am speaking for North Mississippi, which is the only part of the state I have lived in thus far, but I believe as a whole Mississippi has a lower cost of living as compared to some other states. I think property taxes as well as vehicle tags are very reasonable. We do pay state taxes, but our sales tax is only 7% (where I live). Our weather isn't extreme, so our utility bills are pretty constant and reasonable (of course recently they have jumped considerably due to gas prices). I would contribute wages to the lower cost of living.

Thank you.

[jacksonian]

"In 2002, 11,276 privately owned units were authorized for construction. The median home value was $79,425, the 2nd lowest in the country."
source: http://www.city-data.com/states/Miss...i-Housing.html

My mother bought a 2 br duplex (1100 sq ft) in Clinton, MS (a nice suburb city of Jackson) in 1998 for app. $75k. She now lives in a 3 br house (1450 sq ft) in the same area and it is $160k+ today. I also have a friend that bought a house (3 br/1 bath) in Clinton 2 years ago for $87k and just sold it for $95k with no work done to it. I just bought a 2 br/1.5 bath (1520 sq ft) in June that was completely renovated in 2005 in Jackson, and it was app. $140k. I hope this helps.

[mmtagnet]

I live in Oxford, MS. and you would love to live here. The cost of living is lower here and you would love our town. The housing prices are higher because we are a college and a retirement community, but in comparison, it might be cheaper than were you live now.

[familyguyfan]

Originally Posted by mmtagnet

I live in Oxford, MS. and you would love to live here. The cost of living is lower here and you would love our town. The housing prices are higher because we are a college and a retirement community, but in comparison, it might be cheaper than were you live now.

The average house where I am currently living costs about $140,200.
I checked city-data for the house prices in Oxford, and it looks like they are about the same. The cost of living otherwise could be less than where I am now.

[nancy thereader]

they live in a house just a few blocks away from the beach for $30,000

That sounds low even for Mississippi. Are you sure of that figure?

[familyguyfan]

Originally Posted by nancy thereader

they live in a house just a few blocks away from the beach for $30,000

That sounds low even for Mississippi. Are you sure of that figure?

That's incredible. That's one reason I am considering moving to Mississippi.

[willdufauve]

I heard MS was a great place to retire so I went there this past summer and drove around several areas of the state. I really liked MS, can only rave about it, but when you see very low house prices it's likely a run down area and sub standard houses. Based on what I looked at and saw, anything for $30k will be pretty bad. And I do mean really bad.

[aiangel_writer]

I would have to agree. 30k not far from the beach would mean in a very bad neighborhood. Heck, many of the homeowners who had homes on beach road are not rebuilding back since Katrina because they cannot afford to. These people owned the land!

I also live in North Mississippi and our housing is pretty reasonable. You can get a nice smaller home in a decent neighborhood for around 50k.