1st Advantage MortgageLafayette County households have a median income of $67,185 and median rent of $1,085 a month (ACS 2020 to 2024). A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Mississippi license first.
On this page
- Getting oriented in Lafayette County
- Income in Lafayette County compared with Mississippi
- Renting and owning in Lafayette County
- Employment and commuting in Lafayette County
- Lafayette County next to its neighbors
- Lafayette County towns compared
- Budget math at the Lafayette County median
- Before borrowing in Lafayette County
- Lafayette County residents: age, schooling, coverage
- Steps before you apply in Lafayette County
- Mississippi rules that apply in Lafayette County
- Nearby and statewide guides
- Frequently asked questions
Getting oriented in Lafayette County
Roughly 58,327 residents live in Lafayette County, Mississippi, 12th by population among the state's 82 counties and county equivalents. It covers 632 square miles of land, or about 92 people per square mile. Under the July 2023 OMB definitions, Lafayette County is not part of any metropolitan area. The Census Bureau counts 6 places in the county (3 incorporated, 3 census-designated); the largest is Oxford, with about 26,411 residents, or 45% of the county.
Income in Lafayette County compared with Mississippi
Lafayette County households have a median income of $67,185 (ACS 2020 to 2024), which ranks 8th of 82 in Mississippi.
| Yearly household income | Lafayette County | Gap to Mississippi |
|---|---|---|
| Under $35,000 | 27.8% | -4.7 pts |
| $35,000 to $99,999 | 37.7% | -3.6 pts |
| $100,000 to $199,999 | 24.4% | +3.9 pts |
| $200,000 or more | 10.1% | +4.4 pts |
The spread is wide: 35% of Lafayette County households make $100,000 or more, and 28% make less than $35,000. 18.5% of residents fall below the federal poverty line (statewide: 18.9%). The Gini index of income inequality is 0.523 (0 is perfect equality). Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.
Renting and owning in Lafayette County
Renters in Lafayette County pay a median of $1,085 a month, 14% above the Mississippi figure of $954. 54% of renting households spend 30% or more of income on rent, and 32% spend half or more. With a median value of $315,400, a typical Lafayette County house costs 4.7 times what the median household earns in a year. Owners occupy 64% of homes. The median year built is 2000.
| Housing | Lafayette County | Mississippi statewide | Typical U.S. county |
|---|---|---|---|
| Median gross rent | $1,085/mo | $954/mo | $877/mo |
| Median home value | $315,400 | $169,800 | $185,300 |
| Owners | 64% | 70% | 75% |
| Rent-burdened renters | 54% | 51% | 45% |
| Burdened owners | 29% | 26% | n/a |
| Mobile homes | 8.4% | 14.4% | n/a |
Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
Employment and commuting in Lafayette County
By the Census industry count, 33% of employed Lafayette County residents work in education and health care and 12% in retail trade. The sharpest difference from the state is in education and health care, at 33% locally and 25% for Mississippi. ACS puts five-year average unemployment at 2.1% in Lafayette County. 14% of commuters travel 45 minutes or more each way, and 9% work from home. Households without a car make up 6.7% of the total (6.3% statewide).
| Top industries | Lafayette County share | +/- vs Mississippi |
|---|---|---|
| Education and health care | 33.0% | +7.6 pts |
| Retail trade | 11.7% | +0.3 pts |
| Arts, lodging and food service | 11.7% | +3.0 pts |
| Professional and administrative services | 9.1% | +1.5 pts |
| Manufacturing | 8.2% | -4.8 pts |
| Other services | 5.8% | +1.1 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Lafayette County next to its neighbors
Distances run center to center, from Yalobusha County at 26 miles out to Calhoun County at 30. Income ranges from $43,125 in Calhoun County to $55,505 in Union County; none of these neighbors top Lafayette County's median.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Lafayette County | - | $67,185 | $1,085/mo | 64% |
| Yalobusha County, MS | 26 mi | $49,151 | $667/mo | 69% |
| Pontotoc County, MS | 27 mi | $51,484 | $864/mo | 70% |
| Panola County, MS | 27 mi | $45,945 | $874/mo | 71% |
| Marshall County, MS | 29 mi | $53,458 | $868/mo | 79% |
| Union County, MS | 29 mi | $55,505 | $865/mo | 75% |
| Calhoun County, MS | 30 mi | $43,125 | $662/mo | 72% |
Lafayette County towns compared
The table lists the 6 largest of 6 Census places in Lafayette County, by population. Together all 6 hold about 32,707 people, so roughly 44% of residents live outside any named place. None of the 6 has its own city guide, so this page covers all of them.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Oxford | city | 26,411 | $64,451 | $1,071 | 3 mi |
| University | CDP | 5,315 | n/a | n/a | 3 mi |
| Abbeville | town | 311 | $61,250 | $1,056 | 10 mi |
| Paris | CDP | 302 | n/a | n/a | 12 mi |
| Taylor | village | 245 | $80,208 | $1,021 | 8 mi |
| Tula | CDP | 123 | n/a | n/a | 10 mi |
Budget math at the Lafayette County median
Lafayette County at the medians, through a lender's eyes (what DTI means):
- Start: $5,599 gross per month ($67,185 / 12)
- 19% goes to median rent ($1,085)
- With a 40% ceiling, about $1,154 remains for car, card, student and any new loan payments
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
Before borrowing in Lafayette County
Based on the Lafayette County data above, these borrowing questions are most likely to matter locally.
- 19% below poverty. Emergency aid, payment plans and counseling (list) come first.
- Rent squeeze. 54% of renters spend 30%+ of income on rent; borrow only if the loan cuts what you pay overall.
- Credit reports. Pull free reports at AnnualCreditReport.com and dispute errors before applying.
Lafayette County residents: age, schooling, coverage
College graduates make up 46% of the adult population. About 9% go without health insurance.
| Indicator | Lafayette County | All of Mississippi | U.S. county median |
|---|---|---|---|
| Median age | 30.7 | 38.6 | 41.5 |
| Bachelor's or higher | 46.5% | 25.1% | 22.2% |
| No high school diploma | 7.5% | 12.9% | n/a |
| No health insurance | 9.3% | 11.0% | 7.8% |
| No vehicle | 6.7% | 6.3% | 5.4% |
| Work from home | 8.6% | 5.9% | 8.7% |
| Poverty rate | 18.5% | 18.9% | 13.2% |
| Unemployment (ACS) | 2.1% | 5.8% | 4.4% |
| Minutes to work | Lafayette County workers |
|---|---|
| Under 15 min | 44.4% |
| 15 to 29 min | 32.1% |
| 30 to 44 min | 9.8% |
| 45 to 59 min | 4.2% |
| 60+ min | 9.4% |
Steps before you apply in Lafayette County
Four checks before you sign anything:
- Borrow the amount the job needs; extra cash adds interest.
- Prequalify with soft pulls where offered, then compare in writing.
- Verify the Mississippi license before giving out your Social Security number.
- Ask a Lafayette County credit union about member loans.
Mississippi rules that apply in Lafayette County
Consumer lenders serving Lafayette County are licensed by the state, not the county; in Mississippi that is the Mississippi Department of Banking and Consumer Finance. Federal complaints: consumerfinance.gov. Statewide data and rules: Mississippi guide.
Nearby and statewide guides
The Mississippi guide covers the whole state.
Frequently asked questions
Is Lafayette County a high-income county?
Its $67,185 median ranks 8th of 82 Mississippi counties and compares with $65,681 for the median U.S. county.
How much is rent in Lafayette County?
Median gross rent, utilities included, is $1,085 a month; 54% of renters spend 30% or more of income on it.
I live in a small Lafayette County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Oxford, University, Abbeville, Paris, Taylor and 1 more.
Will a Lafayette County address affect my match?
Beyond confirming Mississippi as your state, no. Your answers about amount, credit, income and payments are all that count.
Who regulates personal lenders for Lafayette County residents?
The Mississippi Department of Banking and Consumer Finance licenses consumer lenders in Mississippi; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.