Simpson County

Simpson County prices in at a $158,834 median home price, down 1.47% year-over-year, which puts it squarely in the affordable end of the Mississippi market. The affordability score of 96 out of 100 reflects that. The problem for investors is that the cash flow score comes in at 0, meaning the rent-to-price math here does not pencil to a usable yield at current financing. With a 6.85% interest rate on a $158,834 purchase and a $31,767 down payment, the monthly mortgage alone consumes a significant share of any realistic rent, and the data does not support a cap rate or cash-on-cash figure worth underwriting. This is not a market where you buy for yield. The appreciation score of 43 and a slightly negative price trend confirm it is not a strong appreciation play either. Simpson ranks 344th out of 1,000 counties nationally (56th percentile) and 28th out of 80 Mississippi counties, meaning it sits in the middle of the pack regionally but offers little differentiation.

The investor profile this county would need to suit is a deeply contrarian value-add operator who can force appreciation through renovation or subdivision, or someone buying all-cash who can tolerate thin margins and does not need the leverage math to work. At $158,834, the entry price is low enough that an all-cash buyer eliminates the mortgage drag entirely and may be able to generate a net yield. A cash-flow buyer using conventional financing at 6.85% will find this market unrewarding. An appreciation buyer faces a market where prices just fell 1.47% and the score sits at 43, which does not justify that thesis either. The affordability index of 96 does suggest that if rates fall meaningfully or if rents rise relative to prices, this county could become viable, but that is a future-state bet the data does not currently support.

The economic context for Simpson County is limited by what is provided here. The county has a population of 25,889, which is a small, relatively static base. Small single-county economies with no named institutional anchors in the data carry concentration risk by definition: a single employer departure or sector contraction can shift vacancy and rent levels faster than a diversified metro absorbs the same shock. Without economic anchor data to cite, investors should conduct independent diligence on the county's employer base before committing capital.

On carry costs, the combined monthly tax and insurance figure is $173, using a state-average effective property tax rate of 0.81% and an insurance rate of 0.50% against the $158,834 purchase price. The tax flag is "normal," so the rate is not a particular headwind or tailwind. That said, the note on this data is worth internalizing: the 0.81% figure is a state-average estimate from the Tax Foundation (2024), and actual county or township rates in Simpson can differ. Pull the county assessor's current millage rate before finalizing any underwrite. At $173 per month, taxes and insurance are not the reason this market fails to cash flow, but they are a real line item that should not be omitted from pro forma modeling.

The primary risk here is a thin and illiquid rental market in a low-population county with no visible economic growth engine in the data. Population of 25,889 translates to a small pool of renters, which means individual vacancies hit portfolio performance harder than in a larger metro, and selling a property in a down cycle is slower. Price depreciation of 1.47% year-over-year is not alarming in isolation, but in a small market it can reflect demand contraction rather than the normal cyclical correction you might see in a larger city. Regulatory risk is not specifically flagged by the data, but Mississippi generally maintains a landlord-friendly legal environment, which is a structural positive for the state overall.

Compared to neighbors, Simpson is mid-tier in price and overall score. Forrest County carries a $182,640 median price and a rent-to-price ratio of 7.34%, Harrison County sits at $220,811 with a 7.55% ratio, and DeSoto County at $295,634 shows a 7.04% ratio. All three neighboring counties with rent data show gross rent-to-price ratios above 7%, which is meaningfully better yield profile data than what is reflected in Simpson's zero cash flow score. Pike County at $97,345 is cheaper, but it also ties on the overall score at 61. If cash flow is the mandate, Forrest or Harrison give you actual rent-to-price ratios to model against. DeSoto, while more expensive at $295,634, benefits from Memphis metro proximity and is likely a different risk profile entirely. Simpson makes sense over its neighbors only if an investor specifically wants the lower entry price for an all-cash or equity-heavy strategy and is willing to do the work to verify that the local rental demand justifies the deployment.