Quick facts: Booneville, MS

Quick Facts

92.7
Cost of Living
below US average
8,978
Population
45.0
Crime Rate per 1000
above US average
$48,655
Median Income
below US average
$114,500
Median House Price
above US average
$870.0
Average Rent
below US average
20%
Poverty Rate
above US average
4.8%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $48,655.

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Income Needed to Buy

βœ“ Affordable
$36k/year
Based on $114,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($48,655) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$37k/year
Based on $870.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($48,655) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Booneville, MS

Booneville is a small city located in Prentiss County, Mississippi. With a rich history and a close-knit community, it's known for its charming Southern atmosphere. The city's population is approximately 8,000 residents, fostering a friendly environment where neighbors know each other. Booneville is situated along the scenic Highway 45, making it easily accessible for travelers. The local economy is driven by manufacturing, retail, and small businesses, creating a diverse job market. The city is also home to several historical sites and attractions, including the historic downtown area with its unique shops and restaurants. Booneville hosts various community events throughout the year, contributing to a vibrant community spirit. Outdoor enthusiasts can enjoy nearby recreational opportunities, including parks and natural areas. The city is also in proximity to larger metropolitan areas, allowing residents to access urban amenities while enjoying the peacefulness of small-town life. With its Southern charm, friendly residents, and a blend of history and modern conveniences, Booneville is a welcoming place to live or visit.

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