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City · 10,587 residents · Rankin County, Mississippi

Flowood , Mississippi

In Flowood, a typical home is worth $342,200 and typical rent is $1,430 a month. Compared with all of Rankin County, the typical home value is 44% higher, typical rent is 13% higher, and the share of households that own their home is 23 points lower.

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  • Typical home value

    $342,200

    44% above the county

    102% above Mississippi

    • Flowood
    • Rankin
    • Mississippi

  • Typical rent

    $1,430a month

    13% above the county

    50% above Mississippi

    • Flowood
    • Rankin
    • Mississippi

  • Typical household income

    $83,880a year

    6% above the county

    49% above Mississippi

    • Flowood
    • Rankin
    • Mississippi

  • Households that own their home

    54%

    23 points below the county

    16 points below Mississippi

    • Flowood
    • Rankin
    • Mississippi

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$333,126
1.5% more than 12 months ago
Typical rent
$1,615 a month
3.8% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Flowood is in Rankin County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Rankin County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Flowood apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Jackson, the typical home value is $111,700: 67% less than in Flowood ($342,200).

  2. 54% of households in Flowood own their home, against 77% in Rankin County.

  3. Flowood has the 3rd highest typical home value of the 67 cities in Mississippi with more than 5,000 people ($342,200).

  4. Nearby, in Jackson, the typical rent is $1,055: 26% less than in Flowood ($1,430).

  5. Flowood has the 5th highest typical household income of the 67 cities in Mississippi with more than 5,000 people ($83,880).

  6. Flowood has the 6th highest typical rent of the 66 cities in Mississippi with more than 5,000 people ($1,430).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Flowood

What homes there are in Flowood, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Flowood, but it weighs less than in Rankin County: 56% against 73%.

Year built

Homes in Flowood are newer: the typical year built is 2001; in Rankin County, 1995.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,966 a month

Rankin County: $1,575 a month

Without a mortgage

$548 a month

Rankin County: $467 a month

Owners with a mortgage

69%

Rankin County: 61%

Owning costs more in Flowood: with a mortgage, the typical cost is $1,966 a month; in Rankin County, $1,575. Without one, $548.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Flowood rose 83%; in Rankin County, it rose 46%.

The typical rent in Flowood rose 25% over the same time; in Rankin County, it rose 29%.

To compare: typical income in Flowood rose 29%; the home, +83%; the rent, +25%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureFlowoodRankin CountyMississippiUnited States
Rental vacancy Unreliable estimate5.8%8.2%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimate1.2%2.2%3.4%
People per household 2.212.562.492.53
Drive alone 78%82%82%69%
Carpool 10%9%9%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimate1%1%3%
Work from home 10%7%6%15%
Other means Unreliable estimate1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Households in Flowood are smaller: 2.21 people on average; in Rankin County, 2.56.

In Flowood, 78% of workers drive alone to work; in Rankin County, 82%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Flowood?

A typical home costs more than the typical income allows

We start with a typical home in Flowood, worth $342,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 40% of the typical household income in Flowood, which is $83,880 a year. For that payment to be 28% of income, a household would need to earn about $118,459 a year.

The calculator's FHA and conventional loan limits are those of all of Rankin County.

Your numbers

Local data
$

Starts at the typical home value in Flowood. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $11,977 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,764

at 7.18% · 30 years

Loan amount
$336,002
Total interest
$483,428
Paid off in
November 2056

Includes $5,779 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,957 a month

  • Tight

    $1,957 to $2,516 a month

  • Hard

    more than $2,516 a month

    Your payment · 40%

Compared with the typical household income in Flowood ($83,880 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,764
Principal & interest$2,276
Property tax$194
Home insurance$143
FHA mortgage insurance (MIP)$151

You need at least $11,977 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Flowood and Rankin County

Flowood is in Rankin County, Mississippi. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Flowood's own numbers

Typical home value
$342,200
Typical monthly rent
$1,430
Typical yearly household income
$83,880
Households that own their home
54%
Effective property tax rate
0.68%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Rankin County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,289
Price change over 5 years (FHFA)
+39%
Homes in a high flood-risk zone
4.5%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Rankin County.

Everything about Rankin County

Buying

Buying a home in Flowood

A typical home in Flowood is worth $342,200: 44% above the county and 102% above Mississippi. With the typical household income in Flowood ($83,880 a year), a typical home costs 4.1 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Flowood 4.1 years
  • Rankin 3.0 years
  • Mississippi 3.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Rankin County

According to FHFA’s house price index, home prices in Rankin County rose 56% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Rankin County.

Period County Mississippi U.S.
Last year (2025) +2.3% +3.5% +2.9%
5 years (2020–2025) +39% +42% +47%
10 years (2015–2025) +56% +62% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Flowood next to Rankin County, Mississippi and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Flowood $342,200
  • Rankin $237,400
  • Mississippi $169,800
  • United States $332,700
Typical monthly rent
  • Flowood $1,430
  • Rankin $1,270
  • Mississippi $954
  • United States $1,413
Typical yearly household income
  • Flowood $83,880
  • Rankin $79,357
  • Mississippi $56,447
  • United States $80,734
See the full table
Flowood next to Rankin County and Mississippi
Measure Flowood Rankin County Mississippi U.S.
Typical home value $342,200 $237,400 $169,800 $332,700
Typical monthly rent $1,430 $1,270 $954 $1,413
Typical yearly household income $83,880 $79,357 $56,447 $80,734
Households that own their home 54% 77% 70% 65%
Typical yearly property tax $2,341 $1,428 $1,215 $3,119
Effective property tax rate 0.68% 0.6% 0.72% 0.94%
Renters with high rent for their income 53% 50% 51% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Rankin County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Flowood

For a typical $342,200 home in Flowood, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Flowood's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,764a month

    Least cash to close
    Down payment
    $11,977
    Cash to close
    $22,243
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $151

  • Conventional, 5% down $2,701a month

    Down payment
    $17,110
    Cash to close
    $27,376
    Rate
    7.18%
    Mortgage insurance
    PMI · $163

  • Conventional, 20% down, no PMI $2,191a month

    Down payment
    $68,440
    Cash to close
    $78,706
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,507a month

    Down payment
    $51,330
    Cash to close
    $61,596
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Flowood and for Rankin County.

Property tax

Effective rate in Flowood

0.68%of the home’s value each year

$2,341 a year for the typical owner in Flowood.

  • Flowood 0.68%
  • Rankin 0.6%
  • Mississippi 0.72%

What Mississippi publishes Regular homestead exemption (Tier 1) (Mississippi Department of Revenue)

Exemptions and deadlines in Mississippi

Flood risk in Rankin County

FEMA does not publish these numbers by city: they are for all of Rankin County.

Homes in the high-risk zone
4.5%
2,338
Of those, with NFIP insurance
33%
County Mississippi U.S.
Homes in the high-risk zone 4.5% 7.6% 3.5%
Of those, with NFIP insurance 33% 33% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Flowood

Typical rent in Flowood is $1,430 a month: 13% above the county. In Flowood, 53% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Rankin County, by unit size. To pay the 2-bedroom one ($1,289 a month) without spending more than 30% of your income, you would need to earn $24.79 an hour working full time.

HUD fair market rent for all of Rankin County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,099 $21.13 $43,960
1 bedroom $1,105 $21.25 $44,200
2 bedrooms $1,289 $24.79 $51,560
3 bedrooms $1,536 $29.54 $61,440
4 bedrooms $1,694 $32.58 $67,760

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Flowood

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Flowood is in ZIP code 39232.

For 2 bedrooms it is $1,670: $381 more than the fair market rent for Rankin County ($1,289).

  • 39232 $1,670$1,990

A ZIP code counts for Flowood when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Flowood

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Rankin County. The nearest ones are below; many serve by phone or online.

A man smiles on a bench outside his apartment building.

HUD counseling is free or low-cost

Assistance programs in Flowood

No down payment, repair or rent-help program on our list is for Flowood or Rankin County. The ones below are statewide in Mississippi: they work in Flowood the same as in the rest of the state.

Which programs do I qualify for? All programs in Mississippi

  • Smart7 Mortgage Program

    Statewide in Mississippi

    Mississippi state corporation 30-year mortgage with $7,000 for the down payment or closing costs as a 0% second mortgage, repaid when you sell, refinance, stop living in the home or pay off the mortgage; no first-time buyer requirement. Offered by Mississippi Home Corporation (MHC).

    Deferred

    See the program Official page

  • Easy8

    Statewide in Mississippi

    Mississippi state corporation 30-year mortgage with $8,000 at 0% as a second mortgage for the down payment, closing costs or prepaid expenses, repaid when you sell, refinance, stop living in the home or pay off the mortgage; for first-time buyers, except in designated areas and for veterans. Offered by Mississippi Home Corporation (MHC).

    Deferred

    See the program Official page

  • Home4All

    Statewide in Mississippi

    Mississippi state corporation forgivable grant, with federal HOME funds, of up to $25,000 for the down payment, closing costs or to reduce the principal; for first-time buyers with incomes under 80% of the area median and a fixed-rate mortgage; if you sell before 5 or 10 years (depending on the amount), you may repay part of it. Offered by Mississippi Home Corporation (MHC).

    Grant

    See the program Official page

Housing counselors near Flowood

The HUD-approved agencies closest to the center of Flowood, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • NSC (naca Counseling Subsidiary) - Jackson, MS

    405 Briarwood Dr, Jackson · 6 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (601) 922-4008

  • Mississippi Housing Partnership, Inc.

    1217 N West St, Jackson · 7 miles away

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 4 more
    (601) 969-1895

  • Voice of Calvary Ministries

    531 W. Capitol St., Jackson · 8 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    601-969-3088-17

All counseling agencies in Mississippi

Help in Spanish near Flowood

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Flowood

HUD lists no housing authority with an office in Rankin County. One in a neighboring county or the state’s may serve the area.

All housing agencies in Mississippi Source: HUD

Cities

Other cities in Rankin County

These cities are also in Rankin County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Rankin County Housing in Mississippi

Nearby cities

The cities closest to Flowood, with the typical home value.

Neighboring counties

If Rankin County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Flowood.

All guides
A mother holding her baby watches her daughter blow bubbles outdoors.

Questions

Housing questions about Flowood

Short answers with the numbers for Flowood and all of Rankin County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Flowood?

The typical home value in Flowood is $342,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Rankin County it is $237,400.

How much does it cost to rent in Flowood?

Typical rent in Flowood is $1,430 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Rankin County is $1,289.

What is the FHA loan limit in Flowood?

Flowood uses the FHA limit for all of Rankin County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Flowood?

The typical homeowner in Flowood pays $2,341 a year, according to the U.S. Census Bureau. That is 0.68% of the home’s value; in Rankin County, the rate is 0.6%.

Where can I find free help to buy or rent in Flowood?

We found no HUD-approved counseling agencies with an office in Rankin County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).