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For many would-be homeowners, buying on a single income can feel like a stretch. According to recent data from the National Association of Realtors®, 62% of recent homebuyers were married couples, while only 20% were single women and 8% were single men. That means one-income households still face an uphill climb—especially in states where housing prices and living costs continue to rise.
But Mississippi bucks the trend. Ranked No. 10 on the list of most affordable states for solo homebuyers, it’s one of the few places where one income is enough to afford a mortgage, cover basic expenses, and still have money left over.
The Most Affordable State for Solo Living
In Mississippi, the median home price is just $295,680, with a monthly mortgage payment (excluding taxes and insurance) of $1,544. To live comfortably, a solo buyer needs an income of about $86,320, according to SmartAsset’s 50/30/20 rule—50% for essentials, 30% for discretionary spending, and 20% for savings or debt payments.
That makes Mississippi the most affordable state on the list in terms of housing cost relative to income needed for solo living. While it has the highest income threshold among the top 10, it also offers one of the lowest median home prices. That balance gives single buyers more flexibility in how—and where—they spend their money.
“Owning a home on one income may be feasible in affordable states in the Midwest and the South,” says Hannah Jones, senior economic research analyst at Realtor.com®. In Mississippi, where housing costs remain well below the national average, solo buyers can make homeownership work without the financial strain.
Practical Homes, Focused Buyers
Single-income shoppers tend to be prepared and pragmatic. “They do want something smaller,” says Brooke Nelson, a real estate agent who frequently works with solo clients. “The single person that’s buying homes right now seems to be pretty responsible as far as their finances go… They do seem to have their ducks in a row”.
In Mississippi, single family homes that are well maintained and move-in ready can be found across a range of price points. “They want things that are pretty much move-in ready or that need very few repairs,” Nelson adds. “There might be a lot of homes on the market, but a lot of them need real work”.
For solo buyers, avoiding major renovations and unexpected expenses is key—and Mississippi’s mix of newer builds and updated older homes offers plenty of options.
Growing Equity on a Stable Path
While tax data doesn’t break down home equity gains by filing status in Mississippi, the broader trend across the region shows consistent, moderate appreciation. That’s good news for solo buyers who aren’t necessarily looking to flip a property, but want to build equity over time.
“Single home shoppers may have to compromise on the type or size of home, or the location, to achieve homeownership on just one income,” says Jones. But in Mississippi, that often means finding a smaller house or considering a different neighborhood—not giving up the dream entirely.
A Straightforward Path to Ownership
Mississippi’s low home prices and accessible income threshold make it one of the best states for solo buyers. In a challenging national market, it stands out for offering a path to ownership that doesn’t require financial gymnastics.
Budget-conscious buyers can use a mortgage calculator or rent vs. buy calculator to see how the numbers work out. For those looking to live comfortably, buy responsibly, and thrive on a single income, Mississippi checks all the right boxes.
This article was produced with editorial input from Dina Sartore-Bodo, Gabriella Iannetta, and Allaire Conte.