Lafayette County, Mississippi Housing Market
In Lafayette County, Mississippi, the median home value is $315,400, with a median monthly rent of $1,085. This places Lafayette County at #548 nationally out of 3134 counties by median home value, and #1 within Mississippi.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $887
- Establishments: 1,534
- BLS QCEW, 2025
Housing Supply
- Single-family: 452
- Multi-family: 58
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 19,198 (avg $100,099)
- Outflow: 17,280 (avg $102,459)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Lafayette County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 38606 | 263.4 | +17.82% | 2025 |
| 2 | 38655 | 295.3 | +8.88% | 2025 |
| 3 | 38863 | 232.0 | -0.84% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
💰 Ready to Finance a Purchase?
See the 2026 FHA and conforming loan limits for Lafayette County, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Lafayette County →How Lafayette County Compares
| Metric | Lafayette County | Mississippi Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $315,400 | $135,817 | $227,706 |
| Median Gross Rent | $1,085 | $804 | $968 |
| Owner Occupancy Rate | 63.8% | 72.4% | 73.3% |
| Price/Rent Ratio | 24.2 | 13.9 | 18.7 |
Market Analysis
The median home value in Lafayette County is 132.2% above the Mississippi state average and 38.5% above the U.S. national average. The median rent of $1,085/month is 35.0% above the state average.
With a price-to-rent ratio of 24.2, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Lafayette County has an owner-occupancy rate of 63.8%, compared to 72.4% in Mississippi and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Louisa County | Virginia | $315,300 | $1,220 |
| Petersburg Borough | Alaska | $315,100 | $950 |
| Orleans Parish | Louisiana | $315,700 | $1,251 |
| Emmet County | Michigan | $315,700 | $1,112 |
| King William County | Virginia | $315,700 | $1,166 |
Other Counties in Mississippi
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Madison County | $311,100 | $1,186 | 71.3% |
| DeSoto County | $269,600 | $1,451 | 77.9% |
| Oktibbeha County | $237,700 | $915 | 48.0% |
| Rankin County | $237,400 | $1,270 | 76.8% |
| Lamar County | $224,700 | $1,126 | 69.5% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).