Homeownership in Mississippi: A Milestone That Builds Community
June marks National Homeownership Month, a time to reflect on the importance of owning a home and to empower more Mississippians to achieve that goal. At the Mississippi REALTORS® Institute (MRI), we believe homeownership is not just a personal milestone, it’s a pathway to stronger communities, long-term financial security, and a greater sense of stability and pride. Whether you’re a real estate professional supporting clients or an individual ready to take the next step, this is the perfect time to explore the path to homeownership in Mississippi.
The Value of Homeownership in Mississippi
Mississippi continues to rank among the states with the highest homeownership rates. As of early 2025, the U.S. Census Bureau reports that 74.1% of Mississippians own their homes, well above the national average. This high rate reflects both the affordability of our market and a cultural appreciation for the benefits of ownership.
Homeownership contributes to financial growth through equity building, tax benefits, and property appreciation. Beyond finances, it encourages community involvement and provides a stable foundation for individuals and families.
Renting vs. Owning: Making the Right Choice
Homeownership supports financial stability through equity building, potential tax advantages, and the opportunity for property appreciation over time. Beyond the financial aspects, owning a home can offer greater control over living spaces, stability in housing costs, and a stronger connection to local neighborhoods. It also encourages greater civic engagement and investment in surrounding communities.
Renting may make more sense for individuals who prioritize flexibility, are saving for a down payment, or are not ready for the responsibilities of ownership. It’s essential for REALTORS® to help clients evaluate their goals, finances, and lifestyle before making the leap.
Guidance for First-Time Homebuyers
Buying a first home is exciting, but it can also be intimidating. First-time buyers should start by:
- Reviewing their credit and finances
- Exploring mortgage options
- Understanding the full cost of homeownership (insurance, taxes, maintenance)
Educational tools and resources from the National Association of REALTORS® (NAR) and the U.S. Department of Housing and Urban Development (HUD) can help buyers prepare. HUD offers homeownership resources, counseling, and financial assistance programs specifically tailored to first-time buyers.
Encourage clients to take advantage of homebuyer education courses to better understand the process and avoid common pitfalls.
The First Steps to Buying a Home in Mississippi
For prospective buyers, knowing where to begin is half the battle. Here are four essential steps to get started:
1. Assess Your Financial Situation
Buyers should evaluate their credit score, debt-to-income ratio, and savings for a down payment and closing costs. Budgeting now can prevent surprises later.
2. Get Pre-Approved for a Mortgage
Pre-approval strengthens a buyer’s offer and shows sellers they are serious. It involves a credit check, income verification, and a review of financial documents. In Mississippi’s competitive market, many sellers require pre-approval before scheduling showings.
3. Work with a Mississippi REALTOR®
A REALTOR® brings local expertise, negotiation skills, and a commitment to ethical service. REALTORS® can help clients:
- Find properties that match their criteria
- Make competitive offers
- Understand legal documents
- Navigate the closing process
4. Begin House Hunting
With a REALTOR® by their side and a pre-approval letter in hand, buyers can explore listings confidently and efficiently.
For those still learning the ropes, the First Time Buyer™ resource from NAR offers stories, strategies, and tips to help new buyers navigate the process from start to finish.
Investing in Real Estate for Passive Income
Homeownership is not just for personal use, it can also be a gateway to investment income. Mississippi offers a favorable environment for investors, especially in single-family rentals, which are in high demand.
Rental properties can provide:
- Monthly passive income
- Long-term appreciation
- Tax advantages such as depreciation and mortgage interest deductions
For REALTORS® working with investor clients, it’s important to discuss:
- Local rental demand
- Zoning laws and landlord responsibilities
- The value of professional property management
Investors should also explore opportunities in opportunity zones and areas experiencing revitalization to maximize their return.
What to Expect in the Mississippi Housing Market in 2025
Mississippi remains one of the most affordable states for homeownership, offering opportunities for both first-time buyers and investors. While real estate markets across the country continue to adapt to shifting interest rates and inventory levels, Mississippi’s housing market has shown relative stability, supported by consistent demand and a low cost of living.
Market conditions can vary across regions, REALTORS® should stay informed about local market trends through MLS data, state and regional housing reports, and tools available through the NAR.
How REALTORS® Support Buyers During Homeownership Month
Homeownership Month is more than a celebration, it’s a call to action. REALTORS® can make a meaningful impact by:
- Using NAR’s Homeownership Month Toolkit to share graphics, homebuying tips, and client success stories across platforms.
- Hosting homebuyer workshops or webinars to educate clients about financing, market conditions, and the homebuying process.
- Connecting buyers with trusted professionals, including lenders, inspectors, and homeownership counselors.
- Advocating for housing opportunities by supporting local and state policies that improve affordability and access to homeownership.
By actively engaging with their communities, REALTORS® reinforce their role as trusted advisors and champions for sustainable homeownership throughout Mississippi.
The Journey Starts Now
At the Mississippi REALTORS® Institute, we are committed to helping real estate professionals and homebuyers succeed. As we celebrate Homeownership Month, we encourage every REALTOR® to deepen their knowledge, share resources, and guide clients with confidence.
For homebuyers, this is your moment. Take the first step toward a brighter future, and connect with a REALTOR® who can help you navigate the path to ownership in Mississippi.
If you have any questions or need assistance, don’t hesitate to contact us or call us directly at 601-932-5241. Together, we can make the dream of homeownership a reality—this June and every day after.
Homeownership Resources