With a 150k income, you're well-positioned to purchase a home in Mississippi. Financial advisors recommend spending about 3 to 4 times your annual income on a home, suggesting a budget between $450,000 and $600,000, depending on factors like your down payment and existing debts.

In Jackson, the median home price is approximately $175,000, which is below your minimum affordability range. This situation opens up a broad selection of homes, potentially allowing you to consider higher-end properties or homes in better neighborhoods.

Other areas such as Gulfport and Hattiesburg offer competitive pricing at around $165,000. Mississippi's property tax rate averages 0.83%, adding roughly $1,453 annually on an average home. Coupled with a cost of living significantly below the national average, your income provides ample opportunities for homeownership.