1st Advantage MortgageIn Smith County, Mississippi, the typical household earns $60,916 a year and the typical rent is $664. 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
- Smith County at a glance
- Paychecks and income spread in Smith County
- Jobs and commutes in Smith County
- What it costs to live in Smith County
- How Smith County compares with nearby counties
- Smith County towns compared
- Debt-to-income at Smith County's medians
- Reading the Smith County data as a borrower
- More Smith County figures
- Mississippi rules that apply in Smith County
- Before you sign
- Related local guides
- Frequently asked questions
Smith County at a glance
Roughly 14,132 residents live in Smith County, Mississippi, 57th by population among the state's 82 counties and county equivalents. Spread over 636 square miles, that works out to roughly 22.2 residents per square mile. No metropolitan area includes Smith County in the 2023 federal delineation, so its numbers stand on their own rather than as part of a metro. The Census Bureau counts 5 places in the county (5 incorporated, 0 census-designated); the largest is Taylorsville, with about 1,650 residents, or 12% of the county.
Paychecks and income spread in Smith County
The median household income in Smith County is $60,916; statewide it is $56,447, so Smith County runs 8% above Mississippi as a whole. Only 10 Mississippi counties post a higher median.
| Band | Smith County | Compared with Mississippi |
|---|---|---|
| Under $35,000 | 36.1% | +3.6 pts |
| $35,000 to $99,999 | 38.0% | -3.3 pts |
| $100,000 to $199,999 | 22.1% | +1.5 pts |
| $200,000 or more | 3.9% | -1.9 pts |
Some 36% of households here live on less than $35,000 a year; 26% have six-figure incomes. The poverty rate is 17.0%, 2 points lower than the state's 18.9%. The Gini index of income inequality is 0.454 (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.
Jobs and commutes in Smith County
Education and health care employs 25% of working residents, the largest share; manufacturing is next with 19%. The sharpest difference from the state is in manufacturing, at 19% locally and 13% for Mississippi. ACS puts five-year average unemployment at 4.4% in Smith County. Long commutes are common here: 24% of workers spend 45 minutes or longer getting to work. 4.8% of households have no vehicle.
| Industry (employed residents 16+) | Smith County | Gap to Mississippi |
|---|---|---|
| Education and health care | 24.9% | -0.5 pts |
| Manufacturing | 19.5% | +6.5 pts |
| Transportation, warehousing and utilities | 11.9% | +4.5 pts |
| Retail trade | 10.6% | -0.8 pts |
| Agriculture, forestry and mining | 6.4% | +4.3 pts |
| Professional and administrative services | 5.5% | -2.0 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
What it costs to live in Smith County
Median gross rent, utilities included, comes to $664 in Smith County versus $954 statewide. 48% of renting households spend 30% or more of income on rent, and 13% spend half or more. Home values center on $112,600, or 1.8 years of median income. Owners occupy 87% of homes. Median construction year: 1986.
| Measure | Smith County | Mississippi | Median U.S. county |
|---|---|---|---|
| Median gross rent | $664/mo | $954/mo | $877/mo |
| Median home value | $112,600 | $169,800 | $185,300 |
| Owners | 87% | 70% | 75% |
| Rent-burdened renters | 48% | 51% | 45% |
| Burdened owners | 17% | 26% | n/a |
| Mobile homes | 24.9% | 14.4% | n/a |
| Vacant units | 17% | 15% | n/a |
In an owner-heavy county like Smith County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
How Smith County compares with nearby counties
Six nearby counties, 22 to 34 miles away by the straight-line distance between their centers. Income ranges from $45,051 in Covington County to $79,357 in Rankin County; 1 of these neighbors top Smith County's median.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Smith County | - | $60,916 | $664/mo | 87% |
| Jasper County, MS | 22 mi | $48,660 | $724/mo | 82% |
| Simpson County, MS | 26 mi | $56,381 | $852/mo | 81% |
| Covington County, MS | 27 mi | $45,051 | $662/mo | 78% |
| Scott County, MS | 27 mi | $48,786 | $888/mo | 71% |
| Rankin County, MS | 31 mi | $79,357 | $1,270/mo | 77% |
| Jones County, MS | 34 mi | $52,216 | $869/mo | 75% |
Smith County towns compared
The table lists the 5 largest of 5 Census places in Smith County, by population. Together all 5 hold about 3,852 people, so roughly 73% of residents live outside any named place. Incomes vary by place: $67,031 at the median in Polkville, $37,885 in Taylorsville. Rent is cheapest in Raleigh ($496) and steepest in Polkville ($800). This guide covers each of the 5 places and the rural areas around them.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Taylorsville | town | 1,650 | $37,885 | $655 | 13 mi |
| Raleigh | town | 1,118 | $61,667 | $496 | 2 mi |
| Polkville | town | 713 | $67,031 | $800 | 17 mi |
| Mize | town | 248 | $67,500 | n/a | 11 mi |
| Sylvarena | village | 123 | n/a | n/a | 7 mi |
Debt-to-income at Smith County's medians
How much room does a median Smith County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- Start: $5,076 gross per month ($60,916 / 12)
- Less median rent of $664, which is 13% of it
- 36% debt-to-income limit: $1,163 left for all other debt payments
- Under a 43% cap, $2,183 total minus rent leaves $1,519
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Reading the Smith County data as a borrower
The county's numbers point to a few situations that come up often for Smith County borrowers.
- Uninsured care. 11% lack coverage here; nonprofit hospitals must publish an assistance policy, so ask for it first (guide).
- Vehicle repairs. 24% of Smith County workers commute 45+ minutes, so a breakdown can cost a paycheck. Get two written estimates.
- Repairs on manufactured housing. With 25% of homes here, compare a personal loan with any dealer or park repair program.
- 48% rent-burdened. A payment on top of high rent needs a cushion; size it with the calculator.
More Smith County figures
Degree holders: 16% of adults over 25. 11.4% of residents have no health coverage.
| Indicator | Smith County | All of Mississippi | U.S. county median |
|---|---|---|---|
| Median age | 43.5 | 38.6 | 41.5 |
| Bachelor's or higher | 15.6% | 25.1% | 22.2% |
| No high school diploma | 14.8% | 12.9% | n/a |
| No health insurance | 11.4% | 11.0% | 7.8% |
| No vehicle | 4.8% | 6.3% | 5.4% |
| Work from home | 3.8% | 5.9% | 8.7% |
| Poverty rate | 17.0% | 18.9% | 13.2% |
| Unemployment (ACS) | 4.4% | 5.8% | 4.4% |
| Commute length | Smith County |
|---|---|
| Under 15 min | 22.3% |
| 15 to 29 min | 31.8% |
| 30 to 44 min | 22.3% |
| 45 to 59 min | 8.0% |
| 60+ min | 15.7% |
Mississippi rules that apply in Smith County
No county office licenses personal lenders. For Smith County, check the Mississippi Department of Banking and Consumer Finance. Problems with a lender can also go to the CFPB. See the Mississippi state guide for the statewide picture.
Before you sign
Quick steps for Smith County:
- Size the loan to the bill, not to the most a lender offers.
- Line up offers side by side: APR, fees in dollars, total cost.
- Confirm the lender is licensed in Mississippi.
- Pick the shortest term whose payment still fits.
Related local guides
The Mississippi guide covers the whole state.
Frequently asked questions
What does a typical Smith County household make?
About $60,916 a year at the median (ACS 2020-24), 8% above the Mississippi median.
Is Smith County expensive for renters?
Median rent is $664 against $954 statewide, and 48% of renter households are cost-burdened.
Should Smith County homeowners use home equity instead?
Maybe, but weigh the risk: 87% of Smith County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
Which towns does the Smith County guide cover?
Every community in the county, unincorporated areas included. The largest of its 5 Census places: Taylorsville, Raleigh, Polkville, Mize, Sylvarena.
Are Smith County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.