Cost of Living & Housing in Booneville
Booneville's cost of living centers on a real, genuine affordability advantage in housing, offset by an effective property tax rate above both the national and Mississippi statewide medians.
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Learn moreGenuinely affordable housing
Booneville's own typical home value runs approximately $131,391 to $136,700 (mid-2026), well below both national and Mississippi statewide figures, though this pass found a likely small-sample $195,000 median-sale outlier in November 2025 (base record).
A 1.39% effective property tax rate, above both medians
Booneville's own 1.39% effective property tax rate (Ownwell) runs above both the national median (1.02%) and Ownwell's own cited Mississippi statewide median (1.35%), though low home prices keep dollar tax bills modest (base record).
Mississippi's 4.0% flat income tax applies statewide
Mississippi's real, current flat 4.0% individual income tax rate (2026), with a further legislated path toward 3% by 2030, applies in Booneville as it does statewide (base record).
Real economic-hardship indicators to weigh directly
Booneville's median household income ($50,879) runs below Mississippi's own already-low statewide figure, alongside a real, elevated 15.07% poverty rate -- a real, disclosed cost-of-living context beyond housing alone (base record).
Key takeaways
- Booneville's housing runs genuinely affordable, approximately $131,391-$136,700 as a typical value.
- Booneville's own 1.39% effective property tax rate runs above both the national and Mississippi statewide medians.
- Mississippi's 4.0% flat income tax applies statewide.
- Booneville's median household income runs below Mississippi's statewide figure, alongside a real, elevated poverty rate.
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