Key Economic Benchmarks
Median Household Income
$45,945$3,829 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Panola County, MS
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Panola County, MS
Official FY2026 HUD Fair Market Rents for Panola County, MS. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $605 | $7,260 | $24,200 | 15.8% |
| 1-Bedroom Apartment | $743 | $8,916 | $29,720 | 19.4% |
| 2-Bedroom ApartmentBenchmark | $878 | $10,536 | $35,120 | 22.9% |
| 3-Bedroom Home | $1,121 | $13,452 | $44,840 | 29.3% |
| 4-Bedroom Home | $1,455 | $17,460 | $58,200 | 38% |
50/30/20 Living Budget in Panola County, MS
Based on the local median household income of $45,945/year ($3,829/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Mississippi
Explore net income after federal income tax, FICA, and Mississippi state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Mississippi with official federal datasets:
Frequently Asked Questions About Living in Panola County, MS
What is the median household income in Panola County, MS?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Panola County, MS is $45,945 per year (approximately $3,829 per month).
What is the average rent in Panola County, MS?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Panola County, MS are $605 for a studio, $743 for 1 bedroom, $878 for 2 bedrooms, $1,121 for 3 bedrooms, and $1,455 for 4 bedrooms.
How does the cost of living in Panola County, MS compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Panola County, MS is 87.0 (13% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Panola County, MS?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($878/month) in Panola County, MS requires a minimum gross household income of $35,120 per year ($2,927 per month).
What is a balanced 50/30/20 monthly budget in Panola County, MS?
For a typical household earning the median income of $45,945/year ($3,829/month) in Panola County, MS, a balanced 50/30/20 budget allocates $1,914/month to essential needs (rent, utilities, groceries), $1,149/month to discretionary spending, and $766/month to savings and debt repayment.
What are typical electricity and utility costs in Panola County, MS?
Residential electricity rates in Mississippi average 14.9¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $134 per month.