Quick facts: Mount olive, MS

Quick Facts

92.7
Cost of Living
below US average
878
Population
113.9
Crime Rate per 1000
above US average
$53,947
Median Income
below US average
$180,000
Median House Price
above US average
$1110.0
Average Rent
below US average
18%
Poverty Rate
above US average
6.5%
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 $53,947.

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Income Needed to Buy

βœ— Stretch
$56k/year
Based on $180,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $56k vs median $53,947
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Income Needed to Rent

βœ“ Affordable
$48k/year
Based on $1110.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($53,947) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Mount olive, MS

Mount Olive is a small town located in Covington County, Mississippi. With a population of around 1,500 residents, it offers a tight-knit community atmosphere. This quaint town is known for its rich history and Southern charm, featuring several historic buildings and landmarks that give insight into its past. The area around Mount Olive boasts scenic landscapes characteristic of Mississippi, with lush greenery and open fields. Outdoor enthusiasts can enjoy nearby parks and recreational activities, such as hiking and fishing in the surrounding natural areas. Mount Olive is also known for its community events and local traditions, which foster a sense of belonging among residents. The town supports local businesses, providing a unique selection of small shops and eateries. Centrally located, Mount Olive offers convenient access to larger cities like Hattiesburg and Laurel, where residents can find additional shopping, dining, and entertainment options. Overall, Mount Olive embodies the essence of small-town life in Mississippi, marked by easy-going living and community spirit.

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