What Are The Most Expensive ZIP Codes In Mississippi? Zillow Data Reveals

We’ve been going state by state, analyzing and identifying the most expensive ZIP codes in each U.S. state. We’re particularly interested in the states along the Mississippi River, having previously determined the most expensive ZIP codes in Arkansas and Louisiana. Now, we want to turn to the state named for America’s mightiest river — Mississippi.

Many, if not most, housing markets across the United States experienced a surge in homebuying activity, beginning some time in 2021. Rate hikes cooled the frenzy, but prices are far and away above what they were pre-pandemic. Mississippi witnessed the uptick in its home values and homebuying activity. But home value appreciation, overall, was nothing crazy.

Read on to find out the most expensive ZIP codes in Mississippi in 2024, based on the latest data from Zillow’s home value index.

The Most Expensive ZIP Codes In Mississippi

We made use on data from Zillow’s home value index, plus the Census Bureau’s 2023 American Community Survey, we analyzed thousands of ZIP codes from all over the U.S. We zeroed in on the 345 ZIP codes tracked by Zillow in Mississippi. As part of our analysis, we took into consideration the latest monthly home values Zillow has — December 2024 — as well as the average of 12 months of median home values from January 2024 to December 2024.

The Top 5 Most Expensive ZIP Codes in Mississippi

ZIP code 39110 is the most expensive one in Mississippi. This ZIP code is centered on Madison, which is north of the state capital of Jackson. It also covers Annandale and Gluckstadt, and includes a strip of coast along the Ross R Barnett Reservoir. Incomes in ZIP code 39110 are high, but are particularly high relative to Mississippi overall. The median household income here is $122,955, while the average household income is $167,765. Home values certainly increased over the last five years, but not at the robust rates that other ZIP codes we analyzed displayed. From $287,715 in December 2019, the median home value rose by 34.2%, surpassing $386,000 in 2023, and settling at $386,122 in December 2024.

Home values surged even more in the second most expensive ZIP code — 38655. This ZIP code is centered on Oxford, where the famous college Ole Miss is located. But for understandable postal reasons, this ZIP code doesn’t include the University of Mississippi itself. There’s a notable gap between median and mean income in ZIP code 38655. The median household income is $64,423, while the average household income is $103,067. Home value appreciation in 38655 was greater than in the No. 1 most expensive ZIP code. Over the five years from December 2019 to December 2024, the median home value rose by 57%, from $236,602 to $371,494. The one-year growth was a stunning 11.4% from December 2023’s median of $333,574.

The No. 3 most expensive ZIP code is 38673 and it is centered on Taylor, southwest of Oxford. This ZIP code covers an expanse of woodland, filled with many beautiful homes. The median household income in 38673 is $89,150. The mean household income is only slightly higher, at $92,513. Home values here grew substantially over the last five years. In December 2019, the median home value was $226,570. It then proceeded to increase by more than 60%, reaching $363,402 in December 2024. The home value appreciation in just one year was robust, at 9.5%, from a median of $363,402 in December 2023.

The No. 4 most expensive ZIP code in Mississippi is 38651. It’s centered on Nesbit and covers a wonderful suburban area south of — and across the border from — Memphis, Tennessee. Incomes are high in ZIP code 38651, though very balanced in terms of distribution. The median household income is $96,667 and the average is $111,972. Home value appreciation was steadier here than in the No. 2 and no. 3 most expensive ZIP codes. From $258,139 in December 2019, the median home value rose by 33.5%, to reach $344,570 in December 2024.

The fifth most expensive ZIP code in Mississippi is immediately south of the No. 4 most expensive ZIP code. This one, 38632, is centered on Hernando and is quite large, especially from east to west. A good portion of this ZIP code lies along Arkabutla Lake. The median household income in 38632 is $90,277, while the average household income is $108,706. The median home value was $242,641 in December 2019. It increased by 35.1% over the next five years, reaching $327,769 by December 2024.